45 ANNUAL REPORT 2022 Fair Value of Investment Properties As at 31 December 2022, the value of Al-Salām REIT’s properties stood at RM1.22 billion (FY2021 RM1.18 billion), an increase of 4%. The increase was due to net fair value gain of RM46.7 million. The portfolio property yield for FY2022 decreased from 4.35% to 3.92% mainly due to higher valuation of Investment Properties and lower performance of KOMTAR JBCC during the financial year. Fair Value @ 31 Dec 2021 (RM’000) Fair Value @ 31 Dec 2022 (RM’000) Property Yield 2021 (%) Property Yield 2022 (%) Retail Komtar JBCC 429,600 431,000 0.92 0.10 @Mart Kempas 72,000 76,000 6.01 5.64 Mydin Hypermart Gong Badak 151,777 153,183 6.64 6.66i Office Menara KOMTAR 62,000 70,000 7.95 6.80 F&B Restaurants 43 KFC and/or Pizza Hut Outlets 286,460 307,690 6.06 5.74 Industrial & Others 6 Industrial Premises 141,400 150,300 6.24 5.91 KPJIC 34,000 36,000 6.70 5.50 TOTAL 1,177,237 1,224,173 4.35 3.92 Notes: i. Computed based on NPI (which excludes unbilled rental income). MANAGEMENT DISCUSSION AND ANALYSIS
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