148 AL-SALAM REIT MANAGER'S REPORT The Manager of Al-Salām Real Estate Investment Trust (the “Fund”), Damansara REIT Managers Sdn Berhad (the “Manager”) have pleasure in presenting their report and the audited financial statements of the Group and of the Fund for the financial year ended 31 December 2022. Results Group Fund 2022 RM 2022 RM Profit for the year 65,416,049 65,146,725 Income distributions Since the end of the previous financial year, the amounts of dividends paid by the Fund were as follows: Fund 2022 RM In respect of the financial year ended 31 December 2021 as reported in the directors’ report of that year: Final income distribution of 1.80 sen per unit on 580,000,000 units, paid on 28 February 2022 10,439,929 In respect of the financial year ended 31 December 2022 as reported in the directors’ report of current year: First interim income distribution of 0.50 sen per unit on 580,000,000 units, paid on 11 October 2022 2,899,986 Second interim income distribution of 0.50 sen per unit on 580,000,000 units, paid on 6 January 2023 2,900,000 16,239,915 A final income distribution in respect of the financial year ended 31 December 2022, of 1.50 sen per unit on 580,000,000 units amounting to an income distribution payable of RM8,700,000 will be payable on 28 February 2023. The financial statements for the current year do not reflect this final interim income distribution. Such income distribution will be accounted for in equity as an appropriation of profits in the financial year ending 31 December 2023. The Fund and its investment objective The Fund is a Malaysia-based real estate and investment trust established pursuant to the execution of a Trust Deed dated 26 March 2015 between the Fund, the Manager and AmanahRaya Trustees Berhad (the “Trustee”). The said Trust Deed was registered with the Securities Commission Malaysia on 30 March 2015 which is the Fund’s establishment date. The Fund was listed on the Main Market of Bursa Malaysia Securities Berhad on 29 September 2015. On 6 June 2019, at the Extraordinary General meeting the unitholders of the Fund has approved the proposed amendments and consolidation of the Trust Deed into Restated Trust Deed was executed and lodged on 25 November 2019 with the Securities Commission Malaysia. The Fund will continue its operations until such time as determined by the Trustee and the Manager as provided under the provision of the Restated Trust Deed (the “Deed”). The Fund’s key objective is to provide unitholders with regular and stable income distributions, sustainable long term unit prices and distributable income and capital growth, while maintaining an appropriate capital structure.
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