Corporate
Governance Report
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or if aggregated with other transactions involving the
same Related Party during the same financial year)
equal to or exceeding S$100,000 in value but below
3.0% of the value of IREIT’s net tangible assets will be
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if aggregated with other transactions involving the same
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or exceeding 3.0% but below 5.0% of the value of IREIT’s
net tangible assets will be subject to the review and
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Such approval shall only be given if the transactions
are on normal commercial terms and not prejudicial
to the interests of IREIT and the Unitholders and are
consistent with similar types of transactions made by
the Trustee with third parties which are unrelated to
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or if aggregated with other transactions involving the
same Related Party during the same financial year)
equal to or exceeding 5.0% of the value of IREIT’s net
tangible assets will be reviewed and approved prior
to such transactions being entered into, on the basis
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from independent sources or advisers, including the
obtaining of valuations from independent professional
valuers.
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approved by the Unitholders at a meeting of Unitholders
duly convened and held in accordance with the provisions
of the Trust Deed.
Where matters concerning IREIT relate to transactions
entered into or to be entered into by the Trustee for and
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consider the terms of such transactions to satisfy itself that
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relating to the transaction in question.
The Trustee has the discretion under the Trust Deed to
decide whether or not to enter into a transaction involving
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IREIT, the Trustee will review the contract to ensure that it
complies with the relevant requirements relating to Related
Party Transactions (as may be amended from time to time)
as well as such other guidelines as may from time to time
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by announcing any Interested Person Transaction in
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transaction, by itself or when aggregated with other
Interested Person Transactions entered into with the same
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more of IREIT’s latest audited net tangible assets.
The aggregate value of all Related Party Transactions which
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internal control systems, the relevant provisions of the
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The review will include the examination of the nature of the
transaction and supporting documents or such other data
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AUDIT AND RISK COMMITTEE
Principle 12: The Board should establish an Audit Committee
with written terms of reference which clearly set out its
authority and duties
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quality and reliability of information prepared for inclusion
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of external auditors and reviewing the adequacy of external
auditors in respect of cost, scope and performance.
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