PARAGON REIT

The Manager has general powers of management over the assets of PARAGON REIT. The Manager’s main responsibility is to manage PARAGON REIT’s assets and liabilities for the benefit of Unitholders.

The Manager will set the strategic direction of PARAGON REIT and give recommendations to the Trustee on the acquisition, divestment, development and/or enhancement of assets of PARAGON REIT in accordance with its stated investment strategy.

The Manager has covenanted in the Trust Deed to use its best endeavours to:

• carry on and conduct its business in a proper and efficient manner;
• ensure that PARAGON REIT is carried on and conducted in a proper and efficient manner; and
• ensure that its Related Parties will conduct all transactions with or for PARAGON REIT on an arm’s length basis and on normal commercial terms.

The Manager will prepare property plans on a regular basis, which may contain proposals and forecasts on Gross Revenue, capital expenditure, sales and valuations, explanations of major variances to previous forecasts, written commentary on key issues and any relevant assumptions. The purpose of these plans is to explain the performance of PARAGON REIT’s properties.

The Manager will also be responsible for ensuring compliance with the applicable provisions of the SFA and all other relevant legislation, the Listing Manual, the Property Funds Appendix, the Singapore Code on Take-overs and Mergers, the Trust Deed, the CMS Licence and any tax ruling and all relevant contracts. The Manager will be responsible for all regular communications with Unitholders.