1) Regulatory Compliance Monitoring
- Monitor the REIT's operations and activities to ensure compliance with:
o CMA Act and Regulations.
o REIT Regulations and Guidelines.
o Trust Deed.
o Information Memorandum/Prospectus.
o Applicable laws and industry best practices.
- Maintain a compliance monitoring framework and compliance checklist for all Trustee oversight obligations.
- Review periodic compliance reports submitted by service providers.
- Identify and escalate actual or potential regulatory breaches to the Head of Custody Services.
- Track remedial actions and ensure timely closure of compliance findings.
2) Trustee Oversight and Administration
- Support the Trustee in carrying out its fiduciary duties under the Trust Deed and applicable regulations.
- Monitor activities of:
o REIT Manager.
o Property Manager.
o Fund Administrator.
o Custodian.
o Valuers and Auditors.
- Review Trustee reports, management reports, and performance reports.
- Ensure Trustee records are maintained accurately and securely.
- Maintain an action log for Trustee matters and follow up on implementation.
3) Governance and Reporting
- Coordinate Trustee meetings and stakeholder engagements.
- Prepare meeting packs, agenda papers, minutes, and action trackers.
- Review board and committee papers submitted by the REIT Manager.
- Prepare periodic Trustee monitoring and compliance reports.
- Coordinate submission of statutory and regulatory reports as required.
4) Financial and Operational Monitoring
- Review periodic financial statements and operational reports of the REIT.
- Monitor key performance indicators and financial covenants.
- Review distribution calculations and investor payment schedules.
- Monitor asset acquisition and disposal transactions to ensure compliance with approved mandates and regulatory requirements.
- Follow up on material issues affecting REIT performance.
5) Stakeholder Management
- Act as the day-to-day Trustee contact point for all REIT-related matters.
- Liaise with:
o Capital Markets Authority.
o REIT Manager.
o Custodian.
o Property Managers.
o Auditors.
o Legal Advisors.
o Valuers and Consultants.
- Facilitate information sharing between stakeholders and the Trustee.