AL-SALAM REIT ANNUAL REPORT 2019

Note The Group The Fund 2019 2018 2019 2018 RM RM RM RM Gross rental income 5 88,542,113 75,408,052 88,542,113 75,408,052 Other income 6 6,370,271 6,742,696 6,370,271 6,742,696 Total revenue 94,912,384 82,150,748 94,912,384 82,150,748 Utilities expenses (6,580,693) (6,778,164) (6,580,693) (6,778,164) Maintenance expenses (4,238,846) (3,788,020) (4,238,846) (3,788,020) Quit rent and assessment (1,730,461) (1,614,101) (1,730,461) (1,614,101) Property manager fee (413,477) (270,000) (413,477) (270,000) Other property expenses (12,827,893) (11,455,436) (12,827,893) (11,455,436) Total property expenses (25,791,370) (23,905,721) (25,791,370) (23,905,721) Net property income 69,121,014 58,245,027 69,121,014 58,245,027 Investment income 7 1,067,052 1,025,884 1,067,052 1,025,884 Fair value gain on investment properties 11 3,543,048 7,581,684 3,543,048 7,581,684 Total investment income 4,610,100 8,607,568 4,610,100 8,607,568 Net investment income 73,731,114 66,852,595 73,731,114 66,852,595 Islamic financing costs: Finance costs 17 (31,636,851) (22,076,860) (22,601,079) (18,803,277) Finance costs from a subsidiary 17 - - (9,035,772) (3,273,583) Imputed finance costs 17 (2,185,227) (1,307,321) (2,185,227) (1,307,321) Manager’s fees (2,229,843) (1,503,100) (2,229,843) (1,503,100) Trustee’s fees (123,539) (122,492) (123,539) (122,492) Audit fees (155,000) (155,000) (130,000) (130,000) Valuation fees (521,189) (560,000) (521,189) (560,000) Other expenses (726,821) (826,411) (685,602) (826,391) Total Fund expenses (37,578,470) (26,551,184) (37,512,251) (26,526,164) Profit before tax 36,152,644 40,301,411 36,218,863 40,326,431 Tax 8 - - - - Profit for the financial year and total comprehensive income for the financial year 36,152,644 40,301,411 36,218,863 40,326,431 AL-SALĀM REIT • 108 ANNUAL REPORT 2019 Statements of Comprehensive Income For The Financial Year Ended 31 December 2019