Manager’s Report Directors of the Manager’s interests (Cont’d) Other than as disclosed above, the other directors of the Manager in office at the end of the financial year had no interest in units of the Fund and of 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. Reserves 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. Holding company and corporation The immediate holding company is Damansara Assets Sdn Bhd. The ultimate holding corporation is Johor Corporation, a body corporate established under the Johor Corporation Enactment No. 4, 1968 (as amended by the Enactment No. 5, 1995). Both holding company and corporation are incorporated in Malaysia. 1 ABOUT US 179 3 SUSTAINABILITY STATEMENT 6 FINANCIAL STATEMENTS 2 BUSINESS OVERVIEW 4 CORPORATE GOVERNANCE 5 OTHER INFORMATION
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