Treasury Holdings Real Estate Pte Ltd, Trustee Manager of Treasury China Trust (“TCT”), is pleased to announce that TCT, a Singapore-listed business trust and leading owner, manager and developer of commercial real estate in China has been recognised as “Outstanding China Enterprise for Property Trust” by Capital Magazine in its “The 6th Capital Outstanding China Enterprise Awards 2011”. Winners were announced during the annual award ceremony hosted on 29 June at Island Shanghai-La in Hong Kong. Mr. Ng Leung-Sing, SBS, JP, HK Deputy to the 11th National People’s Congress of the PRC; Dr. K K Lee, BBS, Member of the National Committee of CPPCC; and Mr. Alex Fong, CEO of the Hong Kong General Chamber of Commerce, presented the awards at the award ceremony.

“The Capital Outstanding Enterprise Awards” was first established in 2006 by Capital Magazine to acknowledge the increasing influence of Chinese enterprises on the global economy and recognise superior performance by Chinese companies. Capital Magazine, launched in 1987, is an Asian business magazine targeting the finance industry, traders, manufacturers and middle-to-high income professionals.

Richard David, Chief Executive Officer of TCT commented, “This accolade recognises the positive steps we have taken as a business to be identified very closely with best in class corporations world-wide.. [Comment: At present, some notable Chinese corporates listed in US and Singapore are facing concerns of accounting fraud. Suggest to take the best-in-class level to a global level, than make comparisons at the China level]. In many ways, particularly in the areas of corporate governance and transparency, we are a leader in terms of best practices and this is underpinned by the continued operational out-performance achieved across all our assets. Following on from the recent AsianInvestor Award as the Real Estate Fund Manager of the Year, this award from Capital Magazine is a further validation [Comment: vindication has negative connotations] of our growing sphere of influence in the Chinese property sector.”

As a Singapore-listed vehicle, TCT has its China headquarters in Shanghai and with more than RMB12 billion of assets under management, has expanded its footprint into Beijing and Qingdao since its initial establishment in 2005. TCT, which has an on-the-ground platform of more than 80 staff, has honed its delivery of high quality management services across all phases of the commercial real estate cycle. Its adoption of the philosophy of “Think Global Act Local” is reflected through its majority local staff contingent representing more than 90% of its total staff resources, complemented by a senior management team very experienced in global commercial real estate.

Uniquely positioned as a “total return vehicle” combining approximately 300,000 square metres of income producing office buildings and shopping malls with 500,000 square metres of development projects, TCT has created a formidable portfolio that delivers strong recurrent income via its current portfolio occupancy of more than 93% in addition to a strongly accretive balance sheet as the development pipeline transitions to high yielding rental income assets over the short to medium term.