C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
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keep the market and investors apprised of CIT’s financial
performance and corporate developments. The Manager
believes in regular, effective, unbiased and transparent
communication and conducts regular briefings for analysts
and media representatives, which generally coincide with
the release of CIT’s results. During these briefings, the
Manager will review CIT’s most recent performance, as well
as discuss the business outlook for CIT. In accordance with
the Manager’s objective of transparent communication,
briefing materials are released to the SGX-ST and made
available on CIT’s website.
For the year, the Management met with institutional
investors in Singapore, Hong Kong, Malaysia, Australia,
China, Japan and Europe through one-on-one or group
meetings as well as teleconferences. The retail investors
were also engaged directly with the Manager as well as the
Board of Directors through the AGM.
In compliance with the Property Funds Appendix, an AGM
of Unitholders will be held after the close of the financial
year allowing the Manager to interact with investors.
A copy of CIT’s Annual Report will also be sent to Unitholders
no later than four months from the end of each financial
year. Notice of the AGM will be published on SGXNET,
newspapers and CIT’s website.
At the AGM, each distinct matter will be proposed as a
separate resolution. Unitholders will be invited to raise
questions they may have relating to the resolution to be
passed before voting on each of the resolutions by poll, using
an electronic voting system. This will allow all Unitholders
present, or represented at the meeting to vote on a one
unit, one vote basis. The voting results will be screened at
the meeting and announced via SGXNET after the meeting.
As andwhen an EGM is to be convened, a circular containing
details of the matters proposed for the Unitholder’s
consideration and approval will also be sent to Unitholders;
together with the notice of the EGM. Such notice will also
be published on SGXNET, newspapers and CIT’s website.
Board members, Management and the external auditors
will be present at the AGM and EGM.
As part of the Manager’s efforts to encourage greater
Unitholders’ participation at the AGM, a Question and
Answer session is held at the end of the AGM to allow
Unitholders the opportunity to put forth any questions and
clarify any issues they may have with the Board members,
Management or external auditors regarding the affairs of
the Manager and CIT.
CORPORATE GOVERNANCE
CIT’s website also provides visitors with the option to sign
up for a free email alert service when there is any newly
posted information on the website or provide any feedback
via the electronic feedback form on the website.
ADDITIONAL INFORMATION
Additional Committees
Apart from the ARCC and NRC, the Manager also set up
the IC and BFC. The chairman of both committees are
Independent Non-executive Directors.
The IC is guided by its terms of reference, in particular, the IC:
(a) reviews the investment, divestments, capital works and
major leasing activities of CIT and its subsidiaries to
ensure they are consistent with the goals and objectives
of CIT set by the Board;
(b) determines that investment constraints are consistently
followed and that procedures are in place to ensure
that the investment portfolio is managed in compliance
with the investment policy and applicable investment
constraints;
(c) reviews the performance of the investment portfolios of
CIT and its subsidiaries; and
(d) considers and makes recommendations regarding any
issues and policies with significant investment impact,
upon requested by the Board of Directors.
The BFC is guided by its terms of reference, in particular,
the BFC:
(a) reviews the annual budgets of CIT and the Manager for
recommendation to the Board;
(b) reviews and monitors periodic reports on budget
variances;
(c) recommends the annual budgets to the Board of
Directors and updates the budget variance status to the
Board on a periodic basis;
(d) reviews, recommends and monitors capital structure
and corporate finance strategy of the Trust including the
issuance of equity and debt securities, financing and re-
financing plans, and financial risk management; and
(e) makes recommendations to the Board on policies
relating to budget and finance.
