AL-SALAM REIT ANNUAL REPORT 2017

154 AL-SALĀM REIT ANNUAL REPORT 2017 No. of units 2017 2016 2017 2016 RM RM Related parties: Johor Corporation 23,543,400 23,543,400 23,543,400 25,191,438 Damansara Assets Sdn Bhd 251,039,417 279,075,417 251,039,417 298,610,696 Kulim (Malaysia) Berhad 23,406,600 22,688,100 23,406,600 24,276,267 Waqaf An-Nur Corporation Berhad 57,859,401 57,859,401 57,859,401 61,909,559 Johor Land Berhad 1,100,000 1,100,000 1,100,000 1,177,000 KPJ Healthcare Berhad 2,000,000 2,000,000 2,000,000 2,140,000 Kumpulan Bertam Plantations Berhad 296,000 296,000 296,000 316,720 Market value for purposes of disclosure above is based on the closing price of the Fund as shown on the board of the Main Market of Bursa Malaysia, which was RM1.00 per unit as at 31 December 2017 (2016: RM1.07). 18. MANAGEMENT EXPENSE RATIO (“MER”) 2017 2016 % % MER 0.66 0.51 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 administrative 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 (“REIT”) which use a different basis of calculation may not be an accurate comparison. 19. PORTFOLIO TURNOVER RATIO (“PTR”) 2017 2016 % % PTR (times) - - The calculation of PTR is based on the average of total acquisitions and total disposals of investments in the Fund for the year to the average net asset value during the year calculated on a monthly basis. NOTES TO THE FINANCIAL STATEMENTS - CONT’D