| Financial Year Ended 31 December | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| 12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
|
| Presented in RM’000 | |||||
| Gross revenue | |||||
| Rental income | |||||
| - Realised | 72,276 | 77,719 | 86,252 | 91,517 | 95,878 |
| - Unrealised (in relation to unbilled lease income receivable) | 121 | 136 | 317 | 488 | 998 |
| 72,398 | 77,855 | 86,569 | 92,005 | 96,876 | |
| Property operating expenses | (25,913) | (21,660) | (18,948) | (19,360) | (16,210) |
| Net property income | 46,485 | 56,195 | 67,621 | 72,645 | 80,666 |
| Finance income | 531 | 513 | 308 | 606 | 1,097 |
| Other income | 2,168 | 896 | 894 | 129 | 89 |
| Changes in fair value of investment properties | |||||
| - As per valuation | (2,879) | (1,715) | 981 | (38,107) | 3,117 |
| - On assets classified as held for sale | - | (4,740) | - | - | - |
| - Unbilled lease income receivable | (121) | (136) | (317) | (488) | (998) |
| Net property and investment income | 46,184 | 51,013 | 69,488 | 34,785 | 83,971 |
| Manager’s fees | (6,235) | (6,330) | (6,424) | (6,653) | (6,653) |
| Trustee’s fees | (252) | (271) | (282) | (411) | (443) |
| Valuation Fees | (224) | (267) | (176) | (310) | (272) |
| Auditors’ fees | |||||
| - Audit | (156) | (166) | (145) | (120) | (135) |
| - Other services | (10) | (17) | (10) | (10) | (10) |
| Tax agent’s fees | - | - | (10) | (10) | (10) |
| Administrative expenses | (2,831) | (1,879) | (1,253) | (1,808) | (2,297) |
| Finance costs | (31,725) | (26,206) | (24,043) | (26,276) | (33,167) |
| Net loss on impairment of financial instruments | - | (645) | (5,559) | (6,587) | - |
| Total trust expenses | (41,433) | (35,781) | (37,902) | (42,185) | (42,986) |
| Net income before taxation | 4,751 | 15,232 | 31,585 | (7,400) | 40,985 |
| Tax benefit/(expense) | 289 | (2,931) | (160) | - | (5,490) |
| Net income for the year and total comprehensive income for the year attributable to unitholders | 5,040 | 12,301 | 31,425 | (7,400) | 35,494 |
| Net income for the year is made up as follows: | |||||
| Realised | 7,630 | 21,687 | 30,604 | 30,707 | 37,137 |
| Unrealised | |||||
| - Unrealised rental income (in relation to unbilled lease income receivable) | 121 | 136 | 317 | 488 | 998 |
| - Change in fair value of investment properties | |||||
| - As per valuation | (2,879) | (1,715) | 981 | (38,107) | 3,117 |
| - On assets classified as held for sale | - | (4,740) | - | - | - |
| - Unbilled lease income receivable | (121) | (136) | (317) | (488) | (998) |
| - Deferred tax income/(expense) | 289 | (2,931) | (160) | - | (4,759) |
| (2,590) | (9,386) | 821 | (38,107) | (1,642) | |
| 5,040 | 12,301 | 31,425 | (7,400) | 35,494 | |
| Earnings per unit (sen) | |||||
| - Before Manager’s fees | 1.967 | 3.250 | 6.603 | (0.130) | 7.353 |
| - After Manager’s fees | 0.879 | 2.146 | 5.482 | (1.291) | 6.192 |
| Net income distribution * | 6,867 | 19,518 | 28,812 | 29,143 | 35,540 |
| Income distribution per unit (sen) * | 1.198 | 3.405 | 5.026 | 5.084 | 6.200 |
Note:
| * | Withholding tax will be deducted for distributions made to resident non-corporate, non-resident individual, non-resident corporate and non-resident institutional unitholders. |