NOTES TO THE FINANCIAL STATEMENTS
24 Related parties
For the purposes of these financial statements, parties are considered to be related to the Group if the Manager
or the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the
party in making financial and operating decisions, or vice versa, or where the Manager and the party are subject
to common significant influence. Related parties may be individuals or other entities.
Other than as disclosed elsewhere in the financial statements, there were the following significant related party
transactions carried out in the normal course of business on terms agreed between the parties:
Group and Trust
2014
2013
$’000
$’000
Cambridge Industrial Trust Management Limited (the Manager)
Management fees paid and payable
6,568
6,454
Performance fees paid and payable
1,684
13,869
Acquisition fee paid
1,408
1,100
Disposal fee paid
39
931
Cambridge Industrial Property Management Pte. Ltd.
(Subsidiary of immediate holding company of the Manager)
Property manager’s fees paid and payable
2,962
2,844
Lease marketing services commission paid and payable
3,210
2,407
Project management fees paid and payable
813
507
RBC Investor Services Trust Singapore Limited (the Trustee)
Trustee fees paid and payable
364
359
National Australia Bank Limited (Related company of the Manager) (Note 10)
Loan disbursed
14,185
57,547
Loan repaid
18,750
78,575
Loan transaction costs paid and payable
22
2,835
Commitment fee paid and payable
89
388
Interest paid and payable
4,628
5,755
Hedging costs paid/payable on partial unwinding of interest rate swaps
–
226
Note 1:
National Australia Bank Limited (“NAB”), which is the ultimate holding company of nabInvest
Capital Partners Pty Limited (“nabInvest Capital”) in Australia, is related to the Manager by virtue of
nabInvest Capital’s indirect equity interest of 56% in the Manager.
CAMBRIDGE INDUSTRIAL TRUST | ANNUAL REPORT 2014
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