Al-`Aqar Healthcare REIT Annual Report 2019

Al-`Aqar Healthcare REIT 06 FINANCIAL STATEMENT 117 Notes To The Financial Statements For The Financial Year Ended 31 December 2019 (Continued) (ii) Manager’s fee Pursuant to the Second Restated Trust Deed dated 25 November 2019, the Manager is entitled to receive the following fees from the Fund: (a) Management fee of 0.1% per annum of the gross assets value of the Fund that is below RM1,000,000,000 and 0.125% of the gross assets value of the Fund that exceeds RM1,000,000,000 calculated based on monthly accrual basis and payable monthly in arrears; The Management fee for the current financial year is RM1,719,328 (2018: RM1 ,674,718) . (b) An acquisition fee of 1% of the acquisition price of any investment property purchased directly or indirectly by the Fund which is payable after the completion of the acquisition; and The acquisition fee to the Manager during the current financial year is RM780,000 (2018:RMNil). (c) A disposal fee of 0.5% of the disposal price of any investment property to be disposed directly or indirectly by the Fund which is payable upon completion of the disposal. There is no disposal fee to the Manager during the current and previous financial years. (iii) Trustee’s fee Pursuant to the Second Restated Trust Deed dated 25 November 2019, the Trustee is entitled to receive a fee of up to 0.04% per annum of the net asset value of the Fund, calculated based on the monthly accrual basis and payable monthly in arrears. The Trustee’s fees for the financial year ended 31 December 2019 of RM284,114 (2018: RM273,226) is determined based on 0.03% (2018: 0.03%) of the monthly net asset value. Prior to the execution of the Second Restated Trust Deed, the Trustee is entitled to receive a fee of up to 0.03% per annum of the net asset value of the Fund. The financial statements of the Group and of the Fund were authorised by the Board of Directors of the Manager for issuance on 13 February 2020. 2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements of the Group and of the Fund have been prepared in accordance with the applicable provisions of the Second Restated Trust Deed dated 25 November 2019, Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards and the SC Guidelines. At the beginning of the current financial year, the Group and the Fund adopted new and amended MFRSs which are mandatory for financial periods beginning on or after 1 January 2019 as fully described in Note 2.1. 1. CORPORATE INFORMATION (CONTINUED)