53 ANNUAL REPORT 2022 KFC & PIZZA HUT OUTLETS F&B RESTAURANT SEGMENT The F&B restaurant segment comprises 43 restaurant establishments across Malaysia. The properties form part of the crucial downstream segment which houses fast food services for well-known household brands KFC and Pizza HUT under QSR. Al-Salām REIT leases all properties to the QSR Group of Companies. Description No of Properties Market Value (RM) Restaurant located at shophouses /offices 23 82.2 Single-storey restaurants building with drive through outlets 16 203.6 Restaurants at mall 4 21.9 Total 43 307.7 LEASE TERM No of Properties (Second Acquisition) First Rental Period 5 17 September 2020 – 16 September 2023 No of Properties (Second Acquisition) Second Rental Period 16 19 March 2022 – 18 March 2025 No of Properties (First Acquisition) Third Rental Period 11 6 May 2021 – 5 May 2024 10 29 September 2021 – 28 September 2024 Note : 1 property at Megamall Pinang Shopping Complex is currently untenanted since 29 September 2020 and the Manager has appointed a property agent to market the property to a prospect tenant. CHALLENGES AND PROSPECTS KFC and Pizza Hut have pivoted heavily towards e-commerce / contactless channels and drive-thru facilities, enabling QSR to capitalise on the changed behaviour of F&B patrons. Al-Salām REIT is exploring and engaging with QSR on potential development of drive-thru facilities in key areas throughout Malaysia as the REIT continues to play a strategic partnership role with QSR. MANAGEMENT DISCUSSION AND ANALYSIS F &KBF CR E&S TPAI ZUZRAA NH TU TS EO GU MT LE EN TT S-
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