AL-SALAM REIT ANNUAL REPORT 2017

AL-SALĀM REIT ANNUAL REPORT 2017 121 Note 2017 2016 RM RM Gross rental income 5 73,333,345 70,881,590 Other income 6 6,699,417 5,253,083 Total revenue 80,032,762 76,134,673 Utilities expenses (6,677,878) (6,459,000) Maintenance expenses (3,837,171) (2,426,171) Quit rent and assessment (1,452,438) (600,689) Property manager fee (270,000) (270,000) Other property expenses (10,907,964) (9,466,257) Total property expenses (23,145,451) (19,222,117) Net property income 56,887,311 56,912,556 Investment income 7 1,187,792 943,064 Fair value gain on investment properties 11 5,063,150 10,630,000 Total investment income 6,250,942 11,573,064 Net investment income 63,138,253 68,485,620 Islamic financing costs: Finance costs (17,577,304) (17,923,685) Imputed finance costs (894,012) (894,012) Manager’s fees (2,341,523) (1,837,996) Trustee’s fees (121,777) (119,252) Audit fees (120,000) (90,000) Valuation fees (350,000) (332,000) Other expenses (1,128,005) (621,267) Total Fund expenses (22,532,621) (21,818,212) STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017