43 ANNUAL REPORT 2022 Table 2: Segmental Gross Revenue and NPI 2021-2022 Gross Revenue Net Property Income Group FY2021 RM`000 FY2022 RM`000 Change % FY2021 RM`000 FY2022 RM`000 Change % KOMTAR JBCC 12,779 11,999 (6.1) 4,010 414 (89.7) @Mart Kempas 7,888 8,275 4.9 4,351 4,286 (1.5) Mydin Hypermart Gong Badak 13,825 13,824 - 13,814 13,795 (0.1) Total Retail Segment 34,492 34,098 (1.1) 22,175 18,495 (16.6) Menara KOMTAR 8,288 8,708 5.1 4,927 4,757 (3.5) Total Office Segment 8,288 8,708 5.1 4,927 4,757 (3.5) KFC & Pizza Hut Outlets 17,388 17,834 2.6 17,352 17,801 2.6 Total F&B Restaurants 17,388 17,834 2.6 17,352 17,801 2.6 Industrial Premises 8,839 8,895 0.6 8,820 8,882 0.7 KPJIC 2,536 2,265 (10.7) 2,257 1,980 (12.3) Total Industrial & Others 11,375 11,160 (1.9) 11,077 10,862 (1.9) Property Manager Fee - - - (537) (476) (11.4) TOTAL PORTFOLIO 71,543 71,800 0.4 54,994 51,439 (6.5) PROFIT FOR THE YEAR For FY2022, Al-Salām REIT recorded a realised profit of RM15.7 million (FY2021: RM14.6 million) and an unrealised profit of RM49.7 million (FY2021: unrealised loss of RM11.4 million). Realised profit was higher by 7% or RM1.1 million mainly attributable to lower provision of rental support of RM6.9 million offsetted by higher Islamic financing costs of RM2.3 million and the drop in realised NPI of RM3.4 million. The unrealised gain of RM49.7 million was attributed to fair value gain from the revaluation of investment properties of RM46.7 million and unbilled rental income of RM3.6 million offsetted by tax expenses of RM0.6 million. DISTRIBUTION PER UNIT Total income available for distribution for FY2022 was RM15.8 million (FY2021: RM14.7 million). The Fund had distributed interim income distributions of 1.00 sen per unit amounting to approximately RM5.8 million on 11 October 2022 and 6 January 2023 respectively. On 2 February 2023, the Manager, declared a final income distribution of 1.50 sen per unit totalling RM8.7 million. Total income distribution for FY2022 is 2.50 sen per unit (FY2021: 2.30 sen) totalling RM14.5 million, which represents 92.0% of the income available for distribution. MANAGEMENT DISCUSSION AND ANALYSIS
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