Capital Distribution :: Mandatory

SGX-ST Announcement

Notice of Books Closure and Distribution Payment Date

NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of Starhill Global Real Estate Investment Trust ("Starhill Global REIT") will be closed on Monday, 6 February 2017, at 5.00 p.m. (the "Books Closure Date") to determine the entitlements of holders of units in Starhill Global REIT's ("Units" and holders of Units, "Unitholders") distributable income of 1.2600 cents per Unit for the period from 1 October 2016 to 31 December 2016 (the "Distribution"), comprising a taxable income component of 0.9700 cents per Unit, a tax-exempt income component of 0.1500 cents per Unit and a capital component of 0.1400 cents per Unit.

Unitholders whose securities accounts with The Central Depository (Pte) Limited ("CDP") are credited with the Units as at 5.00 p.m. on the Books Closure Date will be entitled to the Distribution to be paid on Tuesday, 28 February 2017.

DECLARATION FOR SINGAPORE TAX PURPOSES

1. Tax-exempt income component

   The tax-exempt income of the distribution is exempt from tax in the hands of all Unitholders.

2. Capital component

   The capital component of the distribution represents a return of capital to Unitholders for tax purposes and is therefore not subject to income tax. For Unitholders who hold the Units as trading assets, the amount of capital distribution will be applied to reduce the cost base of their Units for the purpose of calculating the amount of taxable trading gains arising from the disposal of the Units.

3. Taxable income component

1. The trustee of Starhill Global REIT ("Trustee") and the manager of Starhill Global REIT ("Manager") will not deduct tax from the Distribution made out of Starhill Global REIT's taxable income that is not taxed at Starhill Global REIT's level to:

2. Unitholders who are individuals and who hold the Units either in their sole names or jointly with other individuals;

3. Unitholders which are companies incorporated and tax resident in Singapore;

4. Unitholders which are Singapore branches of foreign companies;

5. Unitholders which are non-corporate entities (excluding partnerships) constituted or registered in Singapore, such as:

6. institutions, authorities, persons or funds specified in the First Schedule to the Income Tax Act (Cap. 134);

7. co-operative societies registered under the Co-operative Societies Act (Cap. 62);

8. trade unions registered under the Trade Unions Act (Cap. 333);

9. charities registered under the Charities Act (Cap. 37) or established by an Act of Parliament; and

10. town councils; or

11. international organisations that are exempt from tax on such distributions by reason of an order made under the International Organisations (Immunities and Privileges) Act (Cap. 145).

12. For the Distribution made to classes of Unitholders that do not fall within the categories stated under Note C1 above, the Trustee and the Manager will deduct tax at the rate of 10% if the Unitholders are foreign non-individual investors. A foreign non-individual investor is one who is not a resident of Singapore for income tax purposes and:

13. who does not have a permanent establishment in Singapore; or

14. who carries on any operation in Singapore through a permanent establishment in Singapore, where the funds used to acquire the Units are not obtained from that operation.

15. Unitholders are required to complete the applicable Section A, B or C of the "Declaration for Singapore Tax Purposes Form A" ("Form A") if they fall within the classes (b) to (e) stated under Note C1 or Section D of Form A if they qualify as a foreign non-individual investor as described under Note C2. The Trustee and the Manager will rely on the declarations made in Form A to determine:

16. if tax is to be deducted for the categories of Unitholders listed in (b) to (e) under Note C1; and

17. if tax is to be deducted at the rate of 10% for the Distribution to foreign non-individual investors.

18. Unitholders who fall within class (a) under Note C1 are not required to submit Form A.

19. Unitholders who do not fall within the classes of Unitholders listed in Notes C1 and C2 above can choose not to return Form A as tax will be deducted from the Distribution made to them at the prevailing corporate tax rate in any case.

20. The Trustee and the Manager will deduct tax at the prevailing corporate tax rate from the Distribution made out of Starhill Global REIT's taxable income that is not taxed at Starhill Global REIT's level, in respect of Units held by depository agents except where the beneficial owners of these Units are:

21. Individuals and the Units are not held through a partnership in Singapore;

22. Qualifying Unitholders (as listed in categories (b) to (e) under Note C1); or

23. Foreign non-individual investors (as defined under Note C2).

    For Units held through depository agents, the depository agents must complete the "Declaration by Depository Agents for Singapore Tax Purposes Form B" ("Form B") and its annexes (Annex 1 for individuals, Annexes 2 and 2.1 for qualifying Unitholders and Annex 3 for foreign non-individuals).

24. Form A and Form B (and its annexes) will be sent to Unitholders and depository agents respectively, by Starhill Global REIT's Unit Registrar, Boardroom Corporate & Advisory Services Pte Ltd, on or around Wednesday, 8 February 2017.

25. Unitholders (Form A) and depository agents (Form B and its annexes) will have to complete the forms legibly and send them to the Unit Registrar such that they are received by 5.00 p.m. on Thursday, 16 February 2017. The Trustee and the Manager will rely on the declarations made in Form A and Form B to determine if tax is to be deducted. Failure to comply with any of these requirements will render Form A and Form B invalid and the Trustee and the Manager will be obliged to deduct the appropriate amount of tax from the Distribution in respect of which this announcement is made.

26. Unitholders who hold Units under the Central Provident Fund Investment Scheme ("CPFIS") or the Supplementary Retirement Scheme ("SRS") do not have to return the Form as they will receive the gross Distribution paid to their respective CPFIS or SRS accounts.

27. Last Date and Time for Return of the Forms

    Unitholders and depository agents must complete and return the "Declaration for Singapore Tax Purposes Form A and Form B (and its annexes)", respectively to Boardroom Corporate & Advisory Services Pte Ltd's office by Thursday, 16 February 2017, at 5.00 p.m. in order to receive the Distribution either at gross or net (after deduction of tax at 10%) as described above.

    DECLARATION IN INCOME TAX RETURN

    The Distribution is considered as income for the financial year ending 30 June 2017. Beneficial owners of the Distribution, other than those who are exempt from tax on the Distribution, are required to declare the gross Distribution as taxable income in their income tax return for the Year of Assessment 2018.

    IMPORTANT DATES AND TIMES

    Monday, 6 February 2017 at 5.00 p.m.	Close of the Transfer Books and Register of Unitholders
    By Thursday, 16 February 2017 at 5.00 p.m.	Unitholders and depository agents must have completed and returned the "Declaration for Singapore Tax Purposes Form A and Form B (and its annexes)" to the Unit Registrar, Boardroom Corporate & Advisory Services Pte Ltd
    Tuesday, 28 February 2017	Payment of Distribution

    For enquiries, please contact Ms. Alice Cheong at tel: [phone] or email: [e-mail]

    By Order of the Board

    YTL Starhill Global REIT Management Limited

    (Company Registration No. 200502123C)

    As Manager of Starhill Global Real Estate Investment Trust

    Lam Chee Kin

    Joint Company Secretary 26 January 2017