AL-SALAM REIT ANNUAL REPORT 2018

AL-SALĀM REIT ANNUAL REPORT 2018 144 Details of units held by the related companies of the Manager which comprise companies related to Johor Corporation, a body corporate established under the Johor Corporation Enactment No. 4, 1968 (as amended by the Enactment No. 5, 1995), and substantial unitholders of the Fund, and their market value as of 31 December 2018 based on the Record of Depositors are as follows: No. of units 2018 2018 The Group RM Related companies: Johor Corporation 24,436,600 19,793,646 Damansara Assets Sdn Bhd 278,539,417 225,616,928 Kulim (Malaysia) Berhad 23,829,600 19,301,976 Waqaf An-Nur Corporation Berhad 57,975,301 45,959,994 Johor Land Berhad 1,499,500 1,214,595 KPJ Healthcare Berhad 2,000,000 1,620,000 Kumpulan Bertam Plantations Berhad 296,000 239,760 Tenaga Utama (Johor) Berhad 7,688 6,227 No. of units No. of units 2018 2017 2018 2017 The Fund RM RM Related companies: Johor Corporation 24,436,600 23,543,400 19,793,646 23,543,400 Damansara Assets Sdn Bhd 278,539,417 251,039,417 225,616,928 251,039,417 Kulim (Malaysia) Berhad 23,829,600 23,406,600 19,301,976 23,406,600 Waqaf An-Nur Corporation Berhad 57,975,301 57,859,401 45,959,994 57,859,401 Johor Land Berhad 1,499,500 1,100,000 1,214,595 1,100,000 KPJ Healthcare Berhad 2,000,000 2,000,000 1,620,000 2,000,000 Kumpulan Bertam Plantations Berhad 296,000 296,000 239,760 296,000 Tenaga Utama (Johor) Berhad 7,688 - 6,227 - 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 RM0.81 per unit as at 31 December 2018 (2017: RM1.00). 19. MANAGEMENT EXPENSE RATIO (“MER”) The Fund 2018 2017 % % MER 0.51 0.66 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 diferent basis of calculation may not be an accurate comparison.