NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER 2023 1. Corporate information (Cont’d) The Fund has entered into several service agreements in relation to the management of the Fund and its property operations. The fees structure of these services is as follows: (i) Maintenance and management fee The maintenance manager, Healthcare Technical Services Sdn Bhd, is entitled to an annual maintenance and management fee of up to 0.08% of the gross value of the investment properties in respect of the management of the investment properties owned by the Fund in accordance with the Property Maintenance Agreement. The fee is calculated on a monthly accrual basis. (ii) Manager’s fee Pursuant to the Second Restated Trust Deed dated 25 November 2019 and the Supplemental Deed to the Second Restated Trust Deed dated 29 December 2022, the Manager is entitled to receive the following fees from the Fund: (a) Management fee of up to 0.30% per annum of the total assets value of the Fund calculated based on monthly accrual basis and payable monthly in arrears; The management fee for the current financial year is RM4,430,769 (2022: RM1,851,471). Prior to the execution of the Supplemental Deed to the Second Restated Trust Deed dated 29 December 2022, the Manager is entitled to receive management fee of 0.1% per annum of the total assets value of the Fund that is below RM1,000,000,000 and 0.125% of the total assets value of the Fund that exceeds RM1,000,000,000 calculated based on monthly accrual basis and payable monthly in arrears; (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 paid to the Manager during the current financial year is RMNil (2022: RM1,920,000). (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. The disposal fee to the Manager during the current financial year is RMNil (2022: RM1,004). (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 2023 of RM418,825 (2022: RM380,770). The financial statements of the Group and of the Fund were authorised by the board of directors of the Manager for issuance on 22 February 2024. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 FINANCIAL STATEMENTS 1 2 3 4 5 185
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