AL-SALAM REIT ANNUAL REPORT 2020

110 AL-SALĀM REIT DIRECTORS OF THE MANAGER'S INTERESTS According to the Register of Directors’ Shareholdings kept by the Manager under Section 59 of the Companies Act 2016, the interests of the directors of the Manager in office at the end of the financial year in shares in its related corporations during the financial year were as follows: <--------------- Number of ordinary shares ---------------> At At 1.1.2020 Acquired Sold 31.12.2020 Related company of the Manager, KPJ Healthcare Berhad Zainah binti Mustafa 1,000,000 - - 1,000,000 Save as disclosed above, none of the other directors of the Manager in office at the end of the financial year had any interest in units in the Fund or shares in its related corporations during and at the end of the financial year. MANAGER’S REMUNERATION Pursuant to the Deed dated 25 November 2019, the Manager is entitled to receive from the Fund: (a) A base management fee of up to 1% per annum of total asset value (excluding cash and bank balances) of the Fund calculated on a monthly accrual basis; (b) An acquisition fee of 1% of the transaction value (being the total purchase price) of any investment property directly or indirectly acquired from time to time by the Trustee for and on behalf of the Fund pro-rated, if applicable, to the proportion of the Fund’s interest and payable to the Manager upon completion of the acquisition of the investment property; and (c) A disposal fee of 0.5% of the transaction value (being the total sales price) of any investment property directly or indirectly sold from time to time by the Trustee for and on behalf of the Fund pro-rated, if applicable, to the proportion of the Fund’s interest and payable to the Manager upon completion of the disposal of the investment property. SOFT COMMISSION During the year, the Manager did not receive any soft commission from its broker, by virtue of transactions conducted by the Fund. RSERVES AND PROVISION There was no material transfer to and from reserves or provisions during the year, other than those as disclosed in the statement of changes in net asset value. MANAGER’S REPORT (CONT’D)