195 ANNUAL REPORT 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 18 GROSS REVENUE Group 2025 2024 US$’000 US$’000 Rental income 54,698 56,710 Recoveries income 16,940 16,053 Other operating income 340 455 71,978 73,218 Recoveries income includes, among others, charges to tenants for reimbursements of certain property expenses primarily for common area maintenance such as repair and maintenance expenses, utilities, property management fees and reimbursements, real estate taxes and other recoverable costs and is estimated in accordance with the individual tenant leases. 19 PROPERTY EXPENSES Group 2025 2024 US$’000 US$’000 Real estate taxes 10,452 9,900 Repair, maintenance and utilities expenses 6,131 6,233 Property management fees 2,708 2,719 Insurance expenses 2,019 1,687 Other property expenses 1,717 2,867 23,027 23,406 20 OTHER TRUST EXPENSES Group 2025 2024 US$’000 US$’000 Auditor’s fees 534 521 Tax compliance fees 299 290 Unit registry expense 54 52 Property valuation fees 113 110 Others 1,029 1,174 2,029 2,147
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