Reference is made to the Circular which was despatched to the Unitholders of Al-`Aqar on 28 November 2019.
On behalf of the Board of Directors of Damansara REIT Managers Sdn Berhad, AmInvestment Bank Berhad wishes to draw your attention to the following:-
Section 5.1.1 of the Independent Advice Letter - 2nd paragraph (Page 32)
(a) The lease expiry as stated in the 2nd paragraph should be read as follows:-
“As at 31 December 2018 and based on Al-`Aqar;s portfolio of twenty two (22) properties of lease expiry ranging from year 2021 to year 2110, we have computed Al-`Aqar’s WALE to be at 14.40 years as tabulated in the table below”
(b) The remaining lease years from 31 December 2018 of Jeta Gardens (Item 22), column 5 of the table should be read as follows:-
|
No.
|
Properties
|
Annual Gross Rental Income
FYE 2018
(RM’000)
|
Expiry of Lease
|
Remaining Lease Years from 31/12/2018
|
WALE
(Current)
|
WALE (Add)
|
|
|
|
A
|
|
B
|
A/C*B
|
A/D*B
|
|
|
Australia
|
|
|
|
|
|
|
22
|
Jeta Gardens
|
11,552
|
1/11/2110
|
91.83
|
10.33
|
9.87
|
The amendments above do not affect the evaluation and recommendation by the Independent Adviser on the Proposals.
Save for the above, all other information in the Circular remains unchanged.
This announcement is dated 9 December 2019.