NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19. Unitholders’ capital (cont’d) 2021 2020 No. of units RM No. of units RM Related parties (cont’d): Kedah Medical Centre Sdn Bhd 15,000,000 17,400,000 15,000,000 19,650,000 Johor Specialist Hospital Sdn Bhd 12,203,000 14,155,480 12,203,000 15,985,930 KPJ Puteri Specialist Hospital Sdn Bhd 12,000,000 13,920,000 12,000,000 15,720,000 Pusat Pakar Darul Naim Sdn Bhd 11,789,000 13,675,240 11,789,000 15,443,590 KPJ Healthcare University College Sdn Bhd 7,758,620 8,999,999 7,758,620 10,163,792 Kuantan Specialist Hospital Sdn Bhd 5,000,000 5,800,000 5,000,000 6,550,000 Kajang Specialist Hospital Sdn Bhd 4,487,000 5,204,920 4,487,000 5,877,970 Jeta Gardens (Qld) Pty Ltd 3,786,924 4,392,832 3,786,924 4,960,870 Kota Kinabalu Specialist Hospital Sdn Bhd 3,500,000 4,060,000 3,500,000 4,585,000 Taiping Medical Centre Sdn Bhd 3,334,000 3,867,440 3,334,000 4,367,540 Johor Ventures Sdn Bhd 173,219 200,934 173,219 226,917 20. Management Expense Ratio (“MER”) Fund 2021 2020 % % MER 0.29 0.32 The calculation of MER is based on the total fees of the Fund incurred for the year, including the Manager’s fees, Trustee’s fees, audit fee, tax agent’s fee and administration expenses, to the average net asset value of the Fund during the year calculated on a monthly basis. Since the average net asset value is calculated on a monthly basis, comparison of the MER of the Fund with other Real Estate Investment Trusts (“REITs”) which use a different basis of calculation may not be an accurate comparison. 21. Significant related party transactions Parties are considered to be related to the Group if the parties have the ability, directly or indirectly, to control the Group or exercise significant influence over the Group in making financial and operation decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. The Group and the Fund derive all their rental income as disclosed in Note 4 from related parties. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 20201 188
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