| Financial Year Ended 31 December | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| 12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
12 months (Audited) |
|
| Presented in RM’000 | |||||
| Gross revenue | |||||
| Rental income | |||||
| - Realised | 78,727 | 77,057 | 72,276 | 77,719 | 86,252 |
| - Unrealised (in relation to unbilled lease income receivable) | 6,335 | 461 | 121 | 136 | 317 |
| 85,062 | 77,517 | 72,398 | 77,855 | 86,569 | |
| Property operating expenses | (31,270) | (28,306) | (25,913) | (21,660) | (18,948) |
| Net property income | 53,792 | 49,212 | 46,485 | 56,195 | 67,621 |
| Finance income | 37 | 794 | 531 | 513 | 308 |
| Other income | 966 | 69 | 2,168 | 896 | 894 |
| Changes in fair value of investment properties | |||||
| - As per valuation | 162 | (9,916) | (2,879) | (1,715) | 981 |
| - On assets classified as held for sale | - | - | - | (4,740) | - |
| - Unbilled lease income receivable | (6,335) | (461) | (121) | (136) | (317) |
| Net property and investment income | 48,622 | 39,698 | 46,184 | 51,013 | 69,488 |
| Manager’s fees | (9,478) | (7,134) | (6,235) | (6,330) | (6,424) |
| Trustee’s fees | (379) | (220) | (252) | (271) | (282) |
| Valuation Fees | (243) | (354) | (224) | (267) | (176) |
| Auditors’ fees | |||||
| - Audit | (180) | (156) | (156) | (166) | (145) |
| - Other services | (80) | (10) | (10) | (17) | (10) |
| Tax agent’s fees | - | - | - | - | (10) |
| Administrative expenses | (5,118) | (1,875) | (2,831) | (1,879) | (1,253) |
| Finance costs | (26,170) | (28,257) | (31,725) | (26,206) | (24,043) |
| Net loss on impairment of financial instruments | - | - | - | (645) | (5,559) |
| Total trust expenses | (41,648) | (38,007) | (41,433) | (35,781) | (37,902) |
| Net income before taxation | 6,974 | 1,691 | 4,751 | 15,232 | 31,585 |
| Tax benefit/(expense) | 331 | 112 | 289 | (2,931) | (160) |
| Net income for the year and total comprehensive income for the year attributable to unitholders | 7,306 | 1,802 | 5,040 | 12,301 | 31,425 |
| Net income for the year is made up as follows: | |||||
| Realised | 6,813 | 11,607 | 7,630 | 21,687 | 30,604 |
| Unrealised | |||||
| - Unrealised rental income (in relation to unbilled lease income receivable) | 6,335 | 461 | 121 | 136 | 317 |
| - Change in fair value of investment properties | |||||
| - As per valuation | 162 | (9,916) | (2,879) | (1,715) | 981 |
| - On assets classified as held for sale | - | - | - | (4,740) | - |
| - Unbilled lease income receivable | (6,335) | (461) | (121) | (136) | (317) |
| - Deferred tax income/(expense) | 331 | 112 | 289 | (2,931) | (160) |
| 493 | (9,804) | (2,590) | (9,386) | 821 | |
| 7,306 | 1,803 | 5,040 | 12,301 | 31,425 | |
| Earnings per unit (sen) | |||||
| - Before Manager’s fees | 2.928 | 1.559 | 1.967 | 3.250 | 6.603 |
| - After Manager’s fees | 1.274 | 0.314 | 0.879 | 2.146 | 5.482 |
| Net income distribution * | 9,141 | 8,545 | 6,867 | 19,518 | 28,812 |
| Income distribution per unit (sen) * | 1.595 | 1.491 | 1.198 | 3.405 | 5.026 |
Note:
| * | Withholding tax will be deducted for distributions made to resident non-corporate, non-resident individual, non-resident corporate and non-resident institutional unitholders. |