MANAGER’S REPORT DIRECTORS OF THE MANAGER’S INTERESTS According to the Register of Directors’ Unitholdings kept by the Manager under Section 59 of the Companies Act 2016, none of the Directors of the Manager in office at the end of the financial year held any interest in shares in its related corporations during and at the end of the financial year. None of the other Directors of the Manager in office at the end of the financial year had any interest in units in the Fund or shares in its related corporations during and at the end of the financial year. MANAGER’S REMUNERATION Pursuant to the Second Restated Trust Deed dated 25 November 2019, the Manager is entitled to receive from the Fund: (a) Management fee of 0.1% per annum of the gross assets value of the Fund that is below RM1,000,000,000 and 0.125% of the gross assets value of the Fund that exceeds RM1,000,000,000 calculated based on monthly accrual basis and payable monthly in arrears; (b) An acquisition fee of 1% of the acquisition price of any investment property purchased directly or indirectly by the Fund which is payable after the completion of the acquisition; and (c) A disposal fee of 0.5% of the disposal price of any investment property to be disposed directly or indirectly by the Fund which is payable upon completion of the disposal. SOFT COMMISSION During the year, theManager did not receive any soft commission from its broker, by virtue of transactions conducted by the Fund. RESERVES AND PROVISIONS There was no material transfer to and from reserves or provisions during the financial year, other than those as disclosed in the statement of changes in net asset value. HOLDING CORPORATION The ultimate holding corporation of the Fund is Johor Corporation, a body corporate established under the Johor Corporation Enactment No. 4, 1968 (as amended by the Enactment No. 5, 1995). GOVERNANCE STRUCTURE FINANCIAL REPORTS 133 AN PO STRATEGIC PERFORMANCE CORPORATE OVERVIEW THE DRIVING FORCES SUSTAINABILITY STATEMENT
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