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PAGE / MUKA SURAT
BOARD OF DIRECTORS AND MANAGEMENT / LEMBAGA PENGARAH DAN PENGURUSAN
2
CHAIRMAN’S STATEMENT / PENYATA PENGERUSI
3 - 6
FINANCIAL STATEMENT / PENYATA KEWANGAN
7 -18 / 19 - 30
ANALYSIS OF UNIT HOLDERS / ANALISIS PEMEGANG-PEMEGANG UNIT
31
DIRECTORY / DIREKTORI
32
C ONTENTS / KANDUNGAN
ARAB-MALAYSIAN FIRST PROPERTY TRUST
aims to acquire quality real estate in Malaysia which
generates a steady income stream and a
reasonably attractive yield to investors, with
potential for capital growth.
The Trust was the first to be listed on the Kuala
Lumpur Stock Exchange.
The Manager, Arab-Malaysian Property Trust
Management Berhad, is wholly-owned subsidiary
of Arab-Malaysian Merchant Bank Berhad, the
largest merchant bank in Malaysia. The ultimate
holding company is AMMB Holdings Berhad, a
company listed on the Kuala Lumpur Stock
Exchange.
Arab-Malaysian Banking Group advises and
manages investment as well as unit and property
trust funds.
ARAB-MALAYSIAN FIRST PROPERTY TRUST
bermatlamat untuk memperolehi harta tanah yang
berkualiti di Malaysia yang boleh memberi aliran
pendapatan yang mantap dan perolehan yang
menarik bagi para pelabur, serta mempunyai potensi
pertumbuhan modal.
Amanah ini adalah yang pertama disenaraikan di
Bursa Saham Kuala Lumpur.
Pengurusnya, Arab-Malaysian Property Trust
Management Berhad, adalah anak syarikat milik
penuh Arab-Malaysian Merchant Bank Berhad, bank
saudagar yang terbesar di Malaysia. Syarikat
induknya adalah AMMB Holdings Berhad, sebuah
syarikat yang tersenarai di Bursa Saham Kuala
Lumpur.
Kumpulan Perbankan Arab-Malaysian menasihati
dan mengendalikan dana pelaburan dan amanah
unit-unit serta harta tanah.
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BOARD OF DIRECTORS / LEMBAGA PENGARAH
Y. Bhg. Tan Sri Dato’ Azman HashimPSM, DPMS, JMN, KMN
FCA (Aust), FCIS, CPA, FIBMChairman / Pengerusi
Y. Bhg. Dato’ Azlan HashimDSNS, DSSA
FCA (Ireland), CPA, FIBM,Fellow EDI (Washington, D.C.)
Deputy Chairman / Timbalan Pengerusi
Cheah Tek KuangB Econs (Hons) (Malaya)
Ross Bingham ShackellFCA (Aust)
Murugiah M N SinghamFCCA
COMPANY SECRETARY / SETIAUSAHA SYARIKAT
Ravindra Kumar ThambimuthuLL B (Melbourne), LL B (Hons),
LL M (London),Dip Air & Space Law (London)
MANAGEMENT / PENGURUSAN
Kamalul Arifin OthmanAdv. Dip. Estate Management (UiTM)
MBA (Ohio), MMIMChief Executive Officer / Ketua Pegawai Eksekutif
Yusri Kamaruzaman Mohd YusofAdv. Dip. Estate Management (UiTM)
Property Manager / Pengurus Harta Tanah
B OARD OF DIRECTORS AND MANAGEMENTLEMBAGA PENGARAH DAN PENGURUSAN
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Y. Bhg. Tan Sri Dato’ Azman Hashim
HAIRMAN’S STATEMENT
The Malaysian economy is now firmly back on anexpansionary phase. Following buoyant exports andindustrial activity, the expansion of output has beensubstantially faster than envisaged. In the first half of2000, real Gross Domestic Product (GDP) expandedby more than 10.0%, rising sharply from 1.4% in thesame period of last year and 9.7% in the preceedinghalf. While exports remained as a major propeller ofgrowth, the stronger performance showed thatrecovery in domestic spending had accelerated. Therobust exports also helped to generate more currentaccount surplus and external reserves which, in turn,accommodated the conduct of monetary and fiscalpolicies to stimulate the economy. (Theaccommodative policy stance was further facilitatedby the easing of inflationary pressures). In the first halfof this year, the Consumer Price Index (CPI)moderated to 1.5% from 2.8% in 1999 chiefly to reflectstable import cost following the fixing of the Ringgitexchange rate at 3.80 against the US Dollar inSeptember 1998. With the banking sector and financialmarkets moving in tandem with the improvedmacroeconomic developments, the broad propertysector had also recorded recovery.
MFPT INVESTMENTS
Bangunan Arab-Malaysian was revalued by anindependent professional valuer in October 1999 atRM160.0 million or approximately RM445 per squarefeet (psf). The revaluation was subsequently approvedby the Securities Commission in March 2000 and therevaluation deficit of RM66,795,601 was incorporatedinto the Trust’s accounts.
Despite the competitive market, Bangunan Arab-Malaysian continued to enjoy full occupancy during theperiod under review. However, the occupancy rate inWisma Kimseah fell to approximately 70.0% as one ofthe tenants moved to their own building. Currently,appointed estate agents are actively marketing tore-let the vacant space at Wisma Kimseah.
C
A
ENYATA PENGERUSI
Ekonomi Malaysia pada masa ini berada di dalam fasaperkembangan. Berdasarkan penambahan ekspot danaktiviti perindustrian, perkembangan pengeluaran telahbertambah lebih cepat dari jangkaan. Pada separuhtahun pertama 2000, Keluaran Dalam Negara Kasar(KDNK) berkembang lebih 10.0% berbanding 1.4% didalam jangkamasa yang sama pada tahun sebelumnyadan 9.7% pada tahun sebelumnya. Sementara ekspotmasih menjadi nadi utama perkembangan ekonomi,prestasi yang kukuh menunjukkan bahawa pemulihanperbelanjaan dalaman telah bertambah. Ekspot yangkukuh telah membantu janaan lebihan akaun semasadan simpanan luar, dalam pada itu, membantu polisikewangan dan fiskal untuk mempercepatkan pemulihanekonomi. (Polisi ini telah mengurangkan tekanan inflasi).Pada separuh masa pertama tahun ini, Indeks HargaPengguna menurun kepada 1.5% dari 2.8% pada tahun1999, menunjukkan kestabilan kos impot akibatpenetapan Ringgit pada kadar pertukaran 3.80 keatasDolar Amerika Syarikat pada September 1998. Denganpergerakan yang selari antara sektor perbankan dankewangan dengan perkembangan makroekonomi,sektor harta tanah juga telah menunjukkanperkembangan.
ELABURAN AMFPT
Bangunan Arab-Malaysian telah dinilai semula olehpenilai professional bebas pada bulan Oktober 1999pada RM160.0 juta atau lebih kurang RM445 sekakipersegi (skp). Penilaian semula ini telah diluluskan olehSuruhanjaya Sekuriti pada Mac 2000 dan pengurangannilaian semula RM66,795,601 telah dimasukkan kedalam akaun Amanah.
Walaupun menghadapi pasaran yang bersaing, BangunanArab-Malaysian terus mendapat kadar penghunian penuhdalam jangka masa kajian semula. Walau bagaimanapun,kadar penghunian di Wisma Kimseah turun kepada kadar70.0% kerana salah satu daripada penyewa telahberpindah ke bangunan mereka sendiri. Kini, agensi hartatanah yang dilantik sedang memasarkan secara aktif ruangkosong untuk disewa semula di Wisma Kimseah.
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About 26.0% of the tenancies in Bangunan Arab-Malaysian have been successfully renewed whilstapproximately 14.0% of the tenancies will be reviewedin the second half of the year.
Rental rates for Bangunan Arab-Malaysian rangedbetween RM3.50 psf and RM5.50 psf per month whilstthe rental rates for Wisma Kimseah ranged betweenRM2.00 psf and RM2.50 psf per month.
The rental income of the Trust declined fromRM12,326,832 in the corresponding period last yearto RM10,563,582 as a result of lower rental ratesachieved during tenancy renewals due to thecompetitive market. Notwithstanding this, it isanticipated that the rental income of the Trust will notbe significantly affected during the remaining half year.
ESULTS
For the six months ended 30 June 2000, the Trustrecorded net income before taxation of RM6,829,319compared to RM8,637,988 in the same correspondingperiod last year. The decline in income of approximately21.0% is attributed to the lower rental income and thereplacement of certain electrical equipments inBangunan Arab-Malaysian.
Barring unforeseen circumstances, the income of theTrust for the accounting period ending 31 December2000 is not expected to be significantly affected.
ISTRIBUTION
The Board of Directors of Arab-Malaysian Property TrustManagement Berhad and the Trustee have approved agross distribution of 4.00 sen per unit for the accountingperiod ended 30 June 2000.
The gross distribution for the accounting period ended30 June 1999 was 3.00 sen per unit.
R
D
Lebih 26.0% sewaan di Bangunan Arab-Malaysian telahberjaya diperbaharui sementara lebih kurang 14.0%sewaan akan disemak pada separuh masa kedua tahunini.
Kadar sewaan di Bangunan Arab-Malaysian adalah diantara RM3.50 skp hingga RM5.50 skp sebulansementara kadar sewaan di Wisma Kimseah adalah diantara RM2.00 skp hingga RM2.50 skp sebulan.
Pendapatan sewa Amanah menurun dariRM12,326,832 pada jangka masa yang sama tahunlepas kepada RM10,563,582 akibat kadar sewa yangrendah dicapai dari pembaharuan sewaan keranapasaran yang bersaing. Walau bagaimanapun, adalahdijangka bahawa pendapatan sewaan Amanah tidakakan tergugat pada separuh masa kedua tahun ini.
ENCAPAIAN
Untuk enam bulan berakhir 30 Jun 2000, Amanahmencatatkan pendapatan bersih sebelum pencukaiansejumlah RM6,829,319 berbanding RM8,637,988dalam jangka masa yang sama tahun lepas. Penurunanpendapatan lebih kurang 21.0% adalah disebabkan olehpendapatan sewa yang rendah dan penukaran alatanelektrik di Bangunan Arab-Malaysian.
Dengan tidak mengambil kira keadaan di luar jangkaan,pendapatan Amanah bagi jangka masa perakaunanberakhir 31 Disember 2000 dijangka tidak akantergugat.
ENGAGIHAN
Lembaga Pengarah Arab-Malaysian Property TrustManagement Berhad dan Pemegang Amanah telahmeluluskan pengagihan pendapatan kasar 4.00 sen seunitbagi jangka masa perakaunan berakhir 30 Jun 2000.
Kadar pengagihan kasar bagi jangka masa perakaunanberakhir 30 Jun 1999 adalah 3.00 sen seunit.
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Income distributionAgihan pendapatan
EarningsPendapatan
EARNINGS AND INCOME DISTRIBUTION
PENDAPATAN DAN AGIHAN PENDAPATAN
ACCOUNTING PERIOD / JANGKAMASA PERAKAUNAN
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ARKET PRICE OF UNITS
Arab-Malaysian First Property Trust units were tradedon the Kuala Lumpur Stock Exchange at prices rangingbetween 87 sen and RM1.05 per unit during the periodunder review. Based on the market price of 88 sen perunit as at 30 June 2000, market capitalisation wasRM121.8 million.
VERVIEW OF THE OFFICE PROPERTYMARKET
The current supply of office space in the Klang Valleystands at 55.5 million sq ft with an additional 4.2 millionsq ft expected to enter the market by year end.Therefore, the total supply of office space by the end ofthe year is estimated at 59.7 million sq ft.
The demand for office space has improved during thefirst half of the year with a take-up of about 1.9 millionsq ft. The overall occupancy rate increased slightly from77.0% in 1999 to 78.0% by the middle of this year. Thiswas due to the improvement in take-up rate of officespace and the lower supply of new space during thefirst half of the year. However, it is anticipated that theoverall occupancy rate will decline due to the additionaloffice space which is expected to come onstream bythe end of 2000.
Rental values and capital values for properties in primelocation have remained stable and ranged betweenRM2.15 psf and RM4.80 psf per month and RM250 psfand RM525 psf respectively.
M
O
ARGA PASARAN UNIT-UNIT
Unit-unit Arab-Malaysian First Property Trust telahdiniagakan di Bursa Saham Kuala Lumpur pada hargadiantara 87 sen hingga RM1.05 seunit pada jangkamasa kajian semula. Berdasarkan harga pasaran 88sen seunit pada 30 Jun 2000, permodalan pasaran ialahRM121.8 juta.
INJAUAN PASARAN HARTA TANAH DILEMBAH KLANG
Penawaran semasa ruang pejabat di Lembah Klang beradapada tahap 55.5 juta kp dengan pertambahan 4.2 juta kpdijangka akan memasuki pasaran pada akhir tahun ini.Dengan itu, jumlah penawaran ruang pejabat pada akhirtahun ini adalah dianggarkan sebanyak 59.7 juta kp.
Permintaan ruang pejabat telah bertambah baik padaseparuh masa pertama tahun ini dengan pengambilansebanyak 1.9 juta kp. Kadar penghunian puratabertambah sebanyak 77.0% pada 1999 kepada 78.0%pada pertengahan tahun ini. Ini adalah disebabkanpengambilan ruang pejabat yang bertambah baik danpenawaran ruang pejabat baru yang berkurangan padaseparuh masa pertama tahun ini. Walau bagaimanapun,adalah dijangkakan kadar penghunian secarakeseluruhan akan menurun akibat pertambahanpenawaran ruang pejabat pada akhir tahun 2000.
Kadar sewaan dan nilai pasaran harta tanah di lokasiutama masih stabil dan berada di tahap RM2.15 skphingga RM4.80 skp sebulan dan RM250 skp hinggaRM525 skp.
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MONTH / BULAN
May Jun
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Unit price / Harga Unit Properties index / Indeks Harta Tanah
UNIT MARKET PRICESHARGA PASARAN UNIT
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ROSPECTS
The second half of this year and 2001 is expectedto see further expansion of the economy as domesticspending and exports continue to grow. However,the pace is expected to be slower given a higherbase established during the same period of 1999and 2000 respectively. A slower rate of expansionis also expected on account of decelerating exportgrowth as external demand moderates in responseto slower growth in the United States. While thegrowth rate in the second half of this year mayaverage 7.5%, the whole of 2000 may register astronger growth of 8.9% before stabilising at a lowerlevel of 7.0% in 2001.
Taking into consideration the potential supply of officespace, rental rates and capital values will continue toremain competitive. However, the income of the Trustfor the second half of the year is not expected to besignificantly affected due to the current structure oftenancies at Bangunan Arab-Malaysian and WismaKimseah.
Tan Sri Dato’ Azman HashimChairman
16 August 2000
P ROSPEK
Pada separuh masa kedua tahun ini dan tahun 2001,dijangkakan pertumbuhan ekonomi akan terusberkembang akibat perbelanjaan tempatan dan ekspotyang bertambah. Walau bagaimanapun, kadar inidijangkakan lebih perlahan memandangkan asas yangtinggi pada 1999 dan 2000 masing-masing. Kadarpertumbuhan yang lebih rendah juga dijangkakanmemandangkan pertumbuhan ekspot yang perlahan.Ini disebabkan permintaan luaran yang menurun akibatpertumbuhan yang rendah ekonomi Amerika Syarikat.Walaupun kadar pertumbuhan pada separuh keduatahun ini adalah pada kadar 7.5%, pertumbuhankeseluruhan pada tahun 2000 dijangka akan lebih kukuhiaitu pada tahap 8.9% sebelum mencecah kestabilanpada tahap 7.0% dalam tahun 2001.
Setelah mengambil kira penawaran ruang pejabatdimasa hadapan, kadar sewa dan nilai pasaran akanterus bersaing. Walau bagaimanapun, pendapatanAmanah pada separuh kedua tahun ini tidak akantergugat kerana struktur sewaan di Bangunan Arab-Malaysian dan Wisma Kimseah.
Tan Sri Dato’ Azman HashimPengerusi
16 Ogos 2000
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086 87 88 89 90 91 92 93 94 95 96 97 98 99 00f
95
Occupancy rateKadar penghunian
KLANG VALLEY OFFICE SPACE
RUANG PEJABAT DI LEMBAH KLANGSupply & DemandPenawaran & Permintaan
YEAR / TAHUN
90
85
80
75
70
65
Supply /Penawaran
Demand /Permintaan
Occupancy rate /Kadar penghunian
F I N A N C I A L S TAT E M E N T
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B ALANCE SHEET AS AT 30 JUNE 2000 (UNAUDITED)
Note 30.6.2000 30.6.1999
RM RM
CURRENT ASSETS
Cash and bank balances 295,370 248,295
Short-term investments 4 10,410,846 11,760,177
Trade debtors 5 387,949 1,339,915
Stores and spares 143,123 148,982
Other debtors 169,542 191,060
11,406,830 13,688,429
CURRENT LIABILITIES
Current portion of term loan (unsecured) 6 - 1,000,000
Rentals received in advance 7 730,032 1,544,023
Rental deposits 8 1,084,050 3,430,017
Other creditors 1,689,417 2,614,345
Provision for taxation 460,654 1,222,384
Income distribution payable 9 4,238,590 4,151,869
8,202,743 13,962,638
NET CURRENT ASSETS / (LIABILITIES) 3,204,087 (274,209)
LAND AND BUILDINGS 10 186,300,000 253,095,601
FIXED ASSETS 11 - 2,233
INTANGIBLE ASSETS 12 - 21,537
NON-CURRENT PORTION OF RENTAL DEPOSITS 8 (3,809,424) (2,128,538)
185,694,663 250,716,624
Represented by:
UNIT HOLDERS’ FUND
Unit holders’ capital 13 138,545,827 138,541,479
Undistributed income 11,062,845 9,293,553
Revaluation reserve 14 26,046,698 92,842,299
General reserve 15 10,039,293 10,039,293
185,694,663 250,716,624
Net tangible asset (per unit) 23 RM1.34 RM1.81
The accompanying notes are an integral part of this balance sheet.
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D ISTRIBUTION STATEMENTFOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2000 (UNAUDITED)
Note 30.6.2000 30.6.1999
RM RM
TOTAL INCOME
Gross rental income 16 10,563,582 12,326,832
Less: Operating expenses 17 (3,104,910) (3,110,727)
Depreciation - (2,680)
Net rental income 7,458,672 9,213,425
Interest income from short-term investments 67,105 157,521
Gain / (loss) on sale of quoted shares 890,322 332,127
Gross dividends from quoted shares 72,763 58,917
(Provision) / write back of provision for diminution
in value of quoted shares (16,521) 498,823
8,472,341 10,260,813
TOTAL EXPENDITURE
Manager’s fee 18 962,503 1,299,438
Trustee’s fee 19 57,750 77,966
Auditors’ remuneration - statutory 5,100 4,900
Printing, postage and general expenses 128,672 103,541
Amortisation of intangible assets - 136,980
Provision for doubtful debt 488,997 -
1,643,022 1,622,825
INCOME BEFORE TAXATION 6,829,319 8,637,988
TAXATION 20 1,659,546 -
INCOME AFTER TAXATION 5,169,773 8,637,988
UNDISTRIBUTED INCOME BROUGHT FORWARD 10,131,662 4,806,281
TOTAL INCOME BEFORE DISTRIBUTION AND TRANSFER 15,301,435 13,444,269
INCOME DISTRIBUTION - net of tax 8 (4,238,590) (4,150,716)
UNDISTRIBUTED INCOME CARRIED FORWARD 11,062,845 9,293,553
EARNINGS PER UNIT 21 3.74 sen 6.24 sen
INCOME DISTRIBUTION PER UNIT - gross of tax 8 4.00 sen 3.00 sen
The accompanying notes are an integral part of this statement.
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C ASH FLOW STATEMENTFOR THE PERIOD ENDED 30 JUNE 2000 (UNAUDITED)
30.6.2000 30.6.1999
RM RM
CASH FLOW FROM OPERATING ACTIVITIES
Net profit before taxation 6,829,319 8,637,988
Adjustments for items not involving the movement of funds:
Amortisation of intangible assets - 136,980
Depreciation - 2,680
Provision for doubtful debt 488,997 -
Provision for diminution in value of investments 16,521 -
Operating profit before working capital changes 7,334,837 8,777,648
Decrease / (increase) in investment in quoted shares 416,299 (224,361)
Decrease / (increase) in trade and other receivables 168,960 (999,418)
Decrease in stores and spares 5,676 260
Decrease in rentals received in advance (330,600) (7,944)
Decrease in rental deposits (140,517) (92,174)
Decrease in other creditors (780,016) (60,013)
Cash generated from operating activities 6,674,639 7,393,998
Income taxes paid (1,198,892) (2,451,218)
Distribution of income to Unit Holders (6,920,012) (4,520,870)
Net cash (used in) / generated from operating activities (1,444,265) 421,910
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of Trust Units - 4,950
Repayment of term loan - (1,000,000)
Net cash used in financing activities - (995,050)
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,444,265) (573,140)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 7,577,456 9,214,677
CASH AND CASH EQUIVALENTS AT END OF PERIOD 6,133,191 8,641,537
Cash and cash equivalents comprise:
Cash and bank balances 295,370 248,295
Short term placements 5,837,821 8,393,242
6,133,191 8,641,537
The accompanying notes are an integral part of this statement.
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1. THE TRUST, THE MANAGER AND THEIR PRINCIPAL ACTIVITIES
The Trust was constituted pursuant to the execution of a Trust Deed dated 16 March 1989 by the
Manager, Arab-Malaysian Property Trust Management Berhad, and the Trustee, Mayban Trustees
Berhad. The Manager, incorporated in Malaysia, is a wholly-owned subsidiary of Arab-Malaysian
Merchant Bank Berhad. The Trustee, also incorporated in Malaysia, is a member of the Malayan
Banking Group. A Trust Deed dated 8 August 1989 was made between the Manager and the Trustee to
replace the Trust Deed dated 16 March 1989 and a Supplemental Deed dated 2 May 1989. A First
Supplemental to the Trust Deed dated 8 August 1989 was issued on 6 December 1991.
The principal activity of the Trust is the acquisition of prime properties in major growth areas of Malaysia,
particularly Kuala Lumpur, which can offer a steady stream of income and ensure a reasonably attractive
yield to Unit Holders, and with potential for capital growth. There has been no significant change in the
nature of this activity during the year.
The principal activity of the Manager is the management of property trusts. There has been no significant
change in the nature of this activity during the year.
2. TERM OF THE TRUST
The Trust has no fixed termination date. However, the Trust Deed does provide for a number
of circumstances under which the Trust may be terminated.
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Basis of Accounting
The accounts have been prepared under the historical cost convention modified by the revaluation
of leasehold land and building and comply with applicable approved accounting standards in
Malaysia.
(b) Land and Buildings
Freehold and leasehold land ; and building are stated at valuation.
Prior to 1995 depreciation was provided using the straight line method over the remaining tenure
of the leasehold land and building. This policy was changed to non depreciation pursuant to the
new Property Trust Guidelines issued by the Securities Commission in June 1995, which removes
the requirement for depreciation charges to be provided on investment properties.
Pursuant to the Property Trust Guidelines, land and buildings are to be revalued at least every 2
years but not later than 3 years after the last valuation.
N OTES TO THE ACCOUNTS - 30 JUNE 2000
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(c) Fixed Assets and Depreciation
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on the
cost of the fixed assets using the straight-line method over the estimated useful lives of the assets
as follows:
Fixtures and fittings - 5 years
Tools and equipment - 5 years
(d) Deferred Taxation
The liability method of deferred taxation accounting is adopted by the Trust. Deferred taxation is
provided for all material timing differences except where there is reasonable evidence that these
timing differences will not reverse in the foreseeable future.
(e) Trade Debtors
Known bad debts are written off and specific provisions are made for any debts considered to be
doubtful of collection.
(f) Issue and Listing Expenses
Issue and listing expenses are carried in the books at cost less accumulated amount amortised.
The amortisation of these expenses is made using the straight-line method over 10 years.
(g) Income Recognition
Income is recognised on an accrual basis. Foreseeable rental waiver is recognised upfront.
(h) Investments
Investments in quoted shares are stated at the lower of cost and market value determined on an
aggregate basis less provision for any diminution in value.
4. SHORT-TERM INVESTMENTS
30.6.2000 30.6.1999
RM RM
Short-term placements with:
Licensed banks 600,000 4,917,570
Licensed finance companies 3,309,585 1,607,354
Negotiable certificate of deposits 1,928,236 1,868,318
5,837,821 8,393,242
Investment in quoted shares, at cost 4,589,546 3,366,935
Less: Provision for diminution in value (16,521) -
4,573,025 3,366,935
10,410,846 11,760,177
Market value of quoted shares 4,573,025 3,670,111
Included in the short-term placements is an amount of RM5,837,821 (1999: RM8,393,242) placed with
financial institutions related to the Manager.
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5. TRADE DEBTORS
30.6.2000 30.6.1999
RM RM
Accrued rental 876,946 1,339,915
Provision for doubtful debt (488,997) -
387,949 1,339,915
6. TERM LOAN (UNSECURED)
30.6.2000 30.6.1999
RM RM
Term loan - 1,000,000
Less: Portion due within the next 12 months
included under current liabilities - (1,000,000)
- -
The loan which was obtained from a company related to the Manager is repayable over 19 quarterly
instalments of RM500,000 each, commencing June 1995. The term loan has been fully repaid in
December 1999.
7. RENTALS RECEIVED IN ADVANCE
Included in this amount are rentals received in advance from companies related to the Manager amounting
to RM637,066 (1999 : RM1,043,469).
8. RENTAL DEPOSITS
Included in this amount are rental deposits received from companies related to the Manager as follows:
30.6.2000 30.6.1999
RM RM
Current portion 845,353 3,012,747
Non-current portion 3,193,936 1,532,540
4,039,289 4,545,287
9. INCOME DISTRIBUTION
The directors of the Manager have proposed a gross income distribution of 4.00 sen (1999 : 3.00 sen
- tax exempt) per unit amounting to RM4,238,590 (1999 : RM4,151,869) net of tax to Unit Holders.
This represents a distribution of 3.06 sen per unit net of tax.
The income entitlement per unit before deduction of the Manager’s fee is 4.70 sen (1999 : 3.94 sen)
gross.
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10. LAND AND BUILDINGS
30.6.2000 30.6.1999
RM RM
At valuation,
Bangunan Arab-Malaysian
- Leasehold land and building 160,000,000 226,795,601
Wisma Kimseah
- Freehold land and building 26,300,000 26,300,000
186,300,000 253,095,601
Bangunan Arab-Malaysian, acquired on 28 September 1989, is a 26-storey office tower with 3 basement
levels located along Jalan Raja Chulan and at the junction with Jalan P. Ramlee. The remaining lease
tenure at the date of acquisition was approximately 94 2/3 years and will expire on 3 June 2084.
In October 1996, a valuation was performed by an independent professional valuer who valued Bangunan
Arab-Malaysian at RM245,000,000 using the open-market valuation based on existing tenancies and
leases. This valuation was revised by the Securities Commission to RM225,000,000 and has been
incorporated in the accounts of the Trust since 1 January 1997.
In October 1999, another valuation was performed by an independent professional valuer who valued
Bangunan Arab-Malaysian at RM160,000,000 using the open market valuation based on existing
tenancies and leases. This valuation has been incorporated in the accounts as at 31 December 1999
prior to approval of the Securities Commission. The Securities Commission approved the valuation to
be incorporated in the accounts of the Trust with effect from 1 January 2000.
Wisma Kimseah, acquired on 30 December 1994, is a 14-storey office tower with 3 levels of car parks
on the Ground, 4th and 5th floors located at Jalan Punchak, Kuala Lumpur.
In August 1997, a valuation was performed by an independent professional valuer who valued Wisma
Kimseah at RM29,000,000 using the open market valuation, based on existing tenancies and leases.
This valuation was revised by the Securities Commission to RM26,300,000 and has been incorporated
in the accounts of the Trust since 1 January 1998.
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11. FIXED ASSETS
Furniture Tools and
and fittings equipment Total
RM RM RM
30.6.2000
Cost
At 1 January 133,000 8,115 141,115
Accumulated Depreciation
At 1 January 128,087 8,115 136,202
Charges 4,913 - 4,913
At 30 June 133,000 8,115 141,115
Net Book Value - - -
Furniture Tools and
and fittings equipment Total
RM RM RM
30.6.1999
Cost
At 1 January 133,000 8,115 141,115
Accumulated Depreciation
At 1 January 128,087 8,115 136,202
Charges 2,680 - 2,680
At 30 June 130,767 8,115 138,882
Net Book Value 2,233 - 2,233
12. INTANGIBLE ASSETS
30.6.2000 30.6.1999
RM RM
Deferred issue and listing expenses 2,831,915 2,831,915
Accumulated amount amortised (2,831,915) (2,810,378)
- 21,537
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13. UNIT HOLDERS’ CAPITAL
30.6.2000 30.6.1999
RM RM
Authorised 1,000,000,000 1,000,000,000
Issued and fully paid:
Balance as at 1 January 138,545,827 138,536,529
Issued during the period - 4,950
Balance as at 30 June 138,545,827 138,541,479
No units were issued during the period ended 30 June 2000 following the expiry of Income Reinvestment
Plan on 7 November 1999. For the corresponding period last year, 6,070 units were issued at a price
of RM0.80 each to Unit Holders who elected to reinvest their income distribution.
14. REVALUATION RESERVE
This represents the surplus arising from the revaluation of the leasehold and freehold lands; and building
and is not distributable by way of cash dividends.
30.6.2000 30.6.1999
RM RM
Bangunan Arab-Malaysian - leasehold 24,220,113 91,015,714
Wisma Kimseah - freehold 1,826,585 1,826,585
26,046,698 92,842,299
15. GENERAL RESERVE
This represents income after taxation arising from the change in accounting policy referred to in Note 3(b).
16. GROSS RENTAL INCOME
Gross rental income comprises rental and service charges received / receivable from tenants of the
buildings.
17. OPERATING EXPENSES
Included in operating expenses are the following: 30.6.2000 30.6.1999
RM RM
Land assessment 885,240 885,240
Quit rent 11,700 11,700
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18. MANAGER’S FEE
Manager’s fee is payable to Arab-Malaysian Property Trust Management Berhad. This is computed at
0.5% of the Net Assets of the Fund (as defined in the Trust Deed) for each accounting period of six
months. The period covers the period from 1 January 2000 to 30 June 2000.
No other fees, commissions or initial service charges have been paid or are payable to the Manager.
19. TRUSTEE’S FEE
Trustee’s fee is payable to Mayban Trustees Berhad. This is computed at 0.03% of the Net Assets of
the Fund (as defined in the Trust Deed) for each accounting period of six months. The period covers the
period from 1 January 2000 to 30 June 2000.
20. TAXATION
30.6.2000 30.6.1999
RM RM
Tax charge for the year 1,659,546 -
1,659,546 -
21. EARNINGS PER UNIT
The earnings per unit has been calculated based on the income after taxation and the weighted average
number of units during the period ended 30 June 2000, of 138,395,263 (1999 : 138,374,021).
22. TRANSACTIONS WITH COMPANIES RELATED TO THE MANAGER
30.6.2000 30.6.1999
RM RM
Comprise of (income) / expenses of the Trust:
Rental (8,762,570) (8,671,592)
Interest (67,105) (157,521)
Insurance premium 95,131 101,599
Fund Manager’s fee 12,133 5,772
Interest expense - 78,087
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23. NET TANGIBLE ASSETS BACKING
30.6.2000 30.6.1999
RM RM
Net assets 185,694,663 250,716,624
Less: Deferred issue and listing expenses - (21,537)
Net tangible assets 185,694,663 250,695,087
Number of units issued 138,400,225 138,395,631
Net tangible assets per unit RM1.34 RM1.81
24. UNIT HOLDING BY THE MANAGER
As at 30 June 2000, the Manager did not hold any units in the Trust.
25. UNIT HOLDERS RELATED TO THE MANAGER
Number of units Percentage of
held at total units in issue
30 June 30 June
2000 1999 2000 1999
Arab-Malaysian Development Bhd
and its subsidiaries 58,183,757 58,183,757 42.0% 42.0%
Arab-Malaysian Merchant Bank Berhad 2,008,000 2,008,000 1.5% 1.5%
26. DIRECTORS’ UNITHOLDINGS
The unitholdings in the Trust of those who were directors of the Manager as at 30 June 2000 are as
follows :
Balance as at Balance as at
1 January 2000 Bought Sold 30 June 2000
Tan Sri Dato’ Azman Hashim 500,199 - - 500,199
27. COMPARATIVE FIGURES
The comparative figures represent that of the Accounting Period from 1 January 1999 to 30 June 1999.
28. CURRENCY
All amounts are stated in Ringgit Malaysia.
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L EMBARAN IMBANGAN PADA 30 JUN 2000 (SEBELUM AUDIT)
Nota 30.6.2000 30.6.1999
RM RM
HARTA SEMASA
Wang tunai dan baki di bank 295,370 248,295
Pelaburan-pelaburan jangka pendek 4 10,410,846 11,760,177
Penghutang perdagangan 5 387,949 1,339,915
Barangan stor dan alat ganti 143,123 148,982
Lain-lain penghutang 169,542 191,060
11,406,830 13,688,429
TANGGUNGAN SEMASA
Pinjaman berjangka (Tanpa cagaran) 6 - 1,000,000
Sewa diterima terdahulu 7 730,032 1,544,023
Deposit sewa 8 1,084,050 3,430,017
Lain-lain pemiutang 1,689,417 2,614,345
Peruntukan cukai 460,654 1,222,384
Agihan pendapatan harus dibayar 9 4,238,590 4,151,869
8,202,743 13,962,638
HARTA/(TANGGUNGAN) SEMASA BERSIH 3,204,087 (274,209)
TANAH DAN BANGUNAN 10 186,300,000 253,095,601
HARTA TETAP 11 - 2,233
PERBELANJAAN TERBITAN DAN
PENYENARAIAN TERTUNDA 12 - 21,537
BAHAGIAN JANGKA PANJANG DEPOSIT SEWA 8 (3,809,424) (2,128,538)
185,694,663 250,716,624
Dibiayai oleh:
DANA PEMEGANG-PEMEGANG UNIT
Modal pemegang-pemegang unit 13 138,545,827 138,541,479
Pendapatan yang belum diagihkan 11,062,845 9,293,553
Rizab lebihan penilaian semula 14 26,046,698 92,842,299
Rizab am 15 10,039,293 10,039,293
185,694,663 250,716,624
Harta ketara bersih (seunit) 23 RM1.34 RM1.81
Nota-nota yang disertakan merupakan sebahagian asasi lembaran imbangan ini.
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PENYATA AGIHANUNTUK JANGKAMASA ENAM BULAN BERAKHIR 30 JUN 2000(SEBELUM AUDIT)
Nota 30.6.2000 30.6.1999
RM RM
JUMLAH PENDAPATAN
Pendapatan sewa kasar 16 10,563,582 12,326,832
Tolak: Perbelanjaan kendalian 17 (3,104,910) (3,110,727)
Susutnilai - (2,680)
Pendapatan sewa bersih 7,458,672 9,213,425
Pendapatan faedah dari pelaburan jangka pendek 67,105 157,521
Keuntungan / (kerugian) penjualan saham 890,322 332,127
Dividen kasar dari saham tersiarharga 72,763 58,917
(Peruntukan) / timbal semula peruntukan
untuk rosot nilai dalam saham tersiarharga (16,521) 498,823
8,472,341 10,260,813
JUMLAH PERBELANJAAN
Yuran Pengurus 18 962,503 1,299,438
Yuran Pemegang Amanah 19 57,750 77,966
Ganjaran juruaudit - berkanun 5,100 4,900
Percetakan, pos dan perbelanjaan am 128,672 103,541
Perlunasan harta takketara - 136,980
Peruntukan untuk hutang yang diragu 488,997 -
1,643,022 1,622,825
PENDAPATAN SEBELUM CUKAI 6,829,319 8,637,988
CUKAI 20 1,659,546 -
PENDAPATAN SELEPAS CUKAI 5,169,773 8,637,988
PENDAPATAN BELUM DIAGIHKAN DIBAWA DARI HADAPAN 10,131,662 4,806,281
JUMLAH PENDAPATAN SEBELUM AGIHAN DAN PINDAHAN 15,301,435 13,444,269
AGIHAN PENDAPATAN HARUS DIBAYAR
- bersih selepas cukai 8 (4,238,590) (4,150,716)
PENDAPATAN BELUM DIAGIHKAN DIBAWA KE HADAPAN 11,062,845 9,293,553
PENDAPATAN SEUNIT 21 3.74 sen 6.24 sen
AGIHAN PENDAPATAN SEUNIT - kasar sebelum cukai 8 4.00 sen 3.00 sen
Nota-nota yang disertakan merupakan sebahagian asasi lembaran penyata ini.
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30.6.2000 30.6.1999
RM RM
ALIRAN TUNAI DARIPADA AKTIVITI OPERASI
Pendapatan sebelum cukai 6,829,319 8,637,988
Pelarasan untuk:
Perlunasan harta takketara - 136,980
Susutnilai - 2,680
Peruntukan untuk hutang yang diragu 488,997 -
Penyusutan dalam nilai pelaburan 16,521 -
Pendapatan kendalian sebelum perubahan modal kerja 7,334,837 8,777,648
Pengurangan / (pertambahan) pelaburan
dalam saham tersiarharga 416,299 (224,361)
Pengurangan / (pertambahan) penghutang perdagangan
dan lain-lain penghutang 168,960 (999,418)
Pengurangan stor dan alat ganti 5,676 260
Pengurangan dalam pertambahan sewa diterima terdahulu (330,600) (7,944)
Pengurangan deposit sewa (140,517) (92,174)
Pengurangan lain-lain pemiutang (780,016) (60,013)
Tunai dihasilkan daripada operasi 6,674,639 7,393,998
Bayaran cukai (1,198,892) (2,451,218)
Agihan pendapatan kepada pemilik unit (6,920,012) (4,520,870)
Aliran tunai bersih (digunakan dalam) / dihasilkan
daripada aktiviti operasi (1,444,265) 421,910
ALIRAN TUNAI DARIPADA AKTIVITI PEMBAYARAN
Perolehan dari penerbitan unit-unit - 4,950
Bayaran balik pinjaman berjangka - (1,000,000)
Tunai bersih digunakan dalam aktiviti pembayaran - (995,050)
PENGURANGAN BERSIH TUNAI DAN BERSAMAAN TUNAI (1,444,265) (573,140)
TUNAI DAN BERSAMAAN TUNAI PADA AWAL JANGKAMASA 7,577,456 9,214,677
TUNAI DAN BERSAMAAN TUNAI PADA AKHIR JANGKAMASA 6,133,191 8,641,537
Tunai dan bersamaan tunai mengandungi:
Wang tunai dan baki di bank 295,370 248,295
Pelaburan-pelaburan jangka pendek 5,837,821 8,393,242
6,133,191 8,641,537
Nota-nota yang disertakan merupakan sebahagian asasi lembaran penyata ini.
PENYATA AGIHANUNTUK JANGKAMASA ENAM BULAN BERAKHIR 30 JUN 2000(SEBELUM AUDIT)
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1. AMANAH, PENGURUS KEGIATAN DAN DASAR-DASAR UTAMA
Amanah telah ditubuhkan berikutan perlaksanaan Surat Ikatan Amanah bertarikh 16 Mac 1989 oleh
Pengurus, Arab-Malaysian Property Trust Management Berhad, dan Pemegang Amanah, Mayban
Trustees Berhad. Pengurus, yang diperbadankan di Malaysia, adalah sebuah anak syarikat milik penuh
Arab-Malaysian Merchant Bank Berhad. Pemegang Amanah, yang juga diperbadankan di Malaysia,
adalah sebuah ahli Kumpulan Malayan Banking. Sebuah Surat Ikatan Amanah bertarikh 8 Ogos 1989
telah dibuat di antara Pengurus dan Pemegang Amanah untuk mengganti Surat Ikatan Amanah bertarikh
16 Mac 1989 dan Surat Ikatan Tambahan bertarikh 2 Mei 1989. Tambahan pertama kepada Surat
Ikatan Amanah yang bertarikh 8 Ogos 1989 telah diterbitkan pada 6 Disember 1991.
Kegiatan utama Amanah adalah perolehan harta-harta tanah utama di kawasan-kawasan pertumbuhan
utama di Malaysia, terutamanya di Kuala Lumpur, yang boleh menawarkan arus pendapatan yang
berterusan dan menjamin pulangan yang menarik kepada Pemegang-pemegang Unit, dan juga
mempunyai potensi bagi pertumbuhan modal. Tidak terdapat sebarang perubahan besar di dalam
kegiatan tersebut di sepanjang tahun ini.
Kegiatan utama Pengurus ialah pengurusan amanah-amanah harta tanah. Tidak terdapat sebarang
perubahan besar di dalam kegiatan tersebut di sepanjang tahun ini.
2. TEMPOH AMANAH
Amanah ini tidak mempunyai tarikh tamat yang tetap. Walaubagaimanapun, Surat Ikatan Amanah ada
memperuntukkan beberapa keadaan yang membolehkan Amanah ditamatkan.
3. RINGKASAN DASAR PERAKAUNAN YANG PENTING
(a) Asas Perakaunan
Akaun-akaun telah disediakan menurut konvensyen kos sejarah yang diubahsuai dengan penilaian
semula tanah dan bangunan pegangpajak dan mematuhi piawaian perakaunan berkenaan yang
diluluskan di Malaysia.
(b) Tanah dan Bangunan
Tanah milikbebas dan bangunan dinyatakan pada kos.
Tanah dan bangunan pegangpajak dinyatakan pada penilaian.
Sebelum tahun 1995 susutnilai telah dikenakan mengikut kaedah garis lurus ke atas baki tempoh
pajakan tanah dari tarikh penilaian / perolehannya. Dasar perakaunan ini telah ditukar kepada
tiada susutnilai dikenakan selaras dengan Garis Panduan baru untuk Tabung Amanah Harta
Tanah yang dikeluarkan oleh Suruhanjaya Sekuriti pada Jun 1995 yang memansuhkan keperluan
untuk susutnilai dikenakan ke atas pelaburan harta tanah.
Menurut Garis Panduan untuk Tabung Amanah Harta Tanah, tanah dan bangunan harus dinilai
semula sekurang-kurangnya setiap 2 tahun tetapi tidak melebihi dari 3 tahun selepas penilaian
terdahulu dilakukan.
N OTA-NOTA KEPADA AKAUN - 30 JUN 2000
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(c) Harta Tetap dan Susutnilai
Harta tetap dinyatakan pada kos setelah ditolak susutnilai terkumpul. Susutnilai diperuntukkan
ke atas kos harta tetap menurut kaedah garis lurus ke atas anggaran tempoh hayat kegunaan
harta tetap tersebut seperti berikut:
Peralatan dan kelengkapan - 5 tahun
Alat-alat dan perkakas - 5 tahun
(d) Cukai Tertunda
Amanah mengamalkan kaedah tanggungan bagi perakaunan cukai tertunda. Cukai tertunda
diperuntukkan bagi semua perbezaan masa yang penting kecuali di mana terdapat bukti
munasabah bahawa perbezaan masa ini tidak akan berbalik di masa hadapan.
(e) Penghutang Perdagangan
Hutang lapuk yang diketahui telah dihapuskirakan dan peruntukan khusus dibuat untuk sebarang
hutang yang pungutannya diragukan.
(f) Perbelanjaan Terbitan dan Penyenaraian
Perbelanjaan terbitan dan penyenaraian direkodkan di dalam buku pada kos setelah ditolak
pelunasan terkumpul. Pelunasan perbelanjaan ini dibuat mengikut kaedah garis lurus sepanjang
10 tahun.
(g) Pengiktirafan Pendapatan
Pendapatan diiktiraf menurut asas akruan. Pemansuhan pendapatan dijangkakan diiktiraf
kehadapan.
(h) Pelaburan
Pelaburan dalam saham tersiarharga dinyatakan pada kos atau harga pasaran yang mana lebih
rendah yang ditentukan atas dasar agregat ditolak peruntukan untuk rosotnilai.
4. PELABURAN-PELABURAN JANGKA PENDEK
30.6.2000 30.6.1999
RM RM
Simpanan-simpanan jangka pendek dalam:
Bank berlesen 600,000 4,917,570
Syarikat kewangan berlesen 3,309,585 1,607,354
Sijil deposit boleh niaga 1,928,236 1,868,318
5,837,821 8,393,242
Pelaburan dalam saham tersiarharga, pada kos 4,589,546 3,366,935
Tolak: Peruntukan penyusutan dalam nilai pelaburan (16,521) -
4,573,025 3,366,935
10,410,846 11,760,177
Nilai pasaran saham tersiarharga 4,573,025 3,670,111
Termasuk di dalam pelaburan-pelaburan jangka pendek adalah RM5,837,821 (1999: RM8,393,242)
yang disimpan dengan sebuah institusi kewangan yang berkaitan dengan Pengurus.
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5. PENGHUTANG PERDAGANGAN
30.6.2000 30.6.1999
RM RM
Sewa terakru 876,946 1,339,915
Peruntukan untuk hutang yang diragu (488,997) -
387,949 1,339,915
6. PINJAMAN BERJANGKA (Tanpa cagaran)
30.6.2000 30.6.1999
RM RM
Pinjaman - 1,000,000
Tolak: Bahagian perlu dibayar dalam jangkamasa 12 bulan
yang termasuk dalam tanggungan semasa - (1,000,000)
- -
Pinjaman ini diperolehi dari syarikat yang berkaitan dengan Pengurus harus dibayar dalam 19 bayaran
ansuran untuk setiap suku tahunan sebanyak RM500,000 mulai Jun 1995. Pinjaman ini telah dijelaskan
sepenuhnya dalam bulan Disember 1999.
7. SEWA DITERIMA TERDAHULU
Termasuk di dalam baki ini adalah RM637,066 (1999 : RM1,043,469) sewa diterima terdahulu daripada
syarikat-syarikat yang berkaitan dengan Pengurus.
8. DEPOSIT SEWA
Termasuk di dalam baki ini adalah deposit sewa yang diterima daripada syarikat-syarikat yang berkaitan
dengan Pengurus seperti berikut:
30.6.2000 30.6.1999
RM RM
Jangka pendek 845,353 3,012,747
Jangka panjang 3,193,936 1,532,540
4,039,289 4,545,287
9. AGIHAN PENDAPATAN
Pengagihan pendapatan kasar Amanah berjumlah 4.00 sen (1999 : 3.00 sen dikecualikan daripada
cukai) seunit. Para pengarah pihak Pengurus telah mengagihkan sebanyak RM4,238,590 (1999 :
RM4,151,869) bersih daripada cukai kepada pemegang-pemegang Unit. Ini mewakili pengagihan
sebanyak 3.06 sen seunit bersih daripada cukai.
Pendapatan berhak seunit sebelum ditolak yuran pengurus adalah 4.70 sen (1999 : 3.94 sen) kasar.
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10. TANAH DAN BANGUNAN
30.6.2000 30.6.1999
RM RM
Pada penilaian,
Bangunan Arab-Malaysian
- Tanah dan bangunan pegangpajak 160,000,000 226,795,601
Wisma Kimseah
- Tanah dan bangunan milikbebas 26,300,000 26,300,000
186,300,000 253,095,601
Bangunan Arab-Malaysian, yang diambilalih pada 28 September 1989, adalah sebuah menara pejabat
26-tingkat dengan 3 tingkat bawah tanah terletak di Jalan Raja Chulan dan di persimpangan Jalan
P. Ramlee. Baki tempoh pajakan pada tarikh pengambilalihannya adalah lebih kurang 94 2/3 tahun dan
akan tamat tempohnya pada 3 Jun 2084.
Pada Oktober 1996, satu penilaian telah dilakukan oleh penilai profesional bebas yang menilaikan
Bangunan Arab-Malaysian pada RM245,000,000 menurut kaedah penilaian pasaran terbuka,
berdasarkan kepada sewaan dan pajakan yang wujud. Penilaian semula ini telah diselaraskan oleh
Suruhanjaya Sekuriti kepada RM225,000,000 dan nilai ini telah dimasukkan ke dalam akaun Amanah
pada 1 Januari 1997.
Pada Oktober 1999, satu lagi penilaian telah dilakukan ke atas Bangunan Arab-Malaysain oleh penilai
profesional bebas berdasarkan sewaan dan pajakan yang sedia ada. Nilai pasaran terbuka yang
dilaporkan oleh penilai profesional bebas ini adalah RM160,000,000. Penilaian semula ini telah
dimasukkan ke dalam akaun pada 31 Disember 1999 sebelum kelulusan dari Suruhanjaya Sekuriti.
Suruhanjaya Sekuriti telah meluluskan penilaian ini dimasukkan ke dalam akaun Amanah pada
1 Januari 2000.
Wisma Kimseah, yang diambilalih pada 30 Disember 1994, adalah sebuah menara pejabat 14 tingkat
dengan 3 tingkat tempat letak kereta di tingkat bawah, 4 dan 5 terletak di Jalan Punchak, Kuala Lumpur.
Pada Ogos 1997, satu penilaian telah dilakukan oleh penilai profesional bebas yang menilaikan Wisma
Kimseah pada RM29,000,000 menurut kaedah penilaian pasaran terbuka, berdasarkan kepada sewaan
dan pajakan yang wujud. Penilaian semula ini telah diselaraskan oleh Suruhanjaya Sekuriti kepada
RM26,300,000 dan nilai ini telah dimasukkan ke dalam akaun Amanah pada 1 Januari 1998.
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11. HARTA TETAP
Kelengkapan Alat-alat dan
dan Peralatan Perkakas Jumlah
RM RM RM
30.6.2000
Kos
Baki pada 1 Januari 133,000 8,115 141,115
Susutnilai Terkumpul
Baki pada 1 Januari 128,087 8,115 136,202
Susutnilai bagi tahun 4,913 - 4,913
Baki pada 30 Jun 133,000 8,115 141,115
Nilai Buku Bersih - - -
Kelengkapan Alat-alat dan
dan Peralatan Perkakas Jumlah
RM RM RM
30.6.1999
Kos
Baki pada 1 Januari 133,000 8,115 141,115
Susutnilai Terkumpul
Baki pada 1 Januari 128,087 8,115 136,202
Susutnilai bagi tahun 2,680 - 2,680
Baki pada 30 Jun 130,767 8,115 138,882
Nilai Buku Bersih 2,233 - 2,233
12. PERBELANJAAN TERBITAN DAN PENYENARAIAN TERTUNDA
30.6.2000 30.6.1999
RM RM
Jumlah perbelanjaan terbitan dan penyenaraian 2,831,915 2,831,915
Jumlah pelunasan terkumpul (2,831,915) (2,810,378)
- 21,537
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13. MODAL PEMEGANG-PEMEGANG UNIT
30.6.2000 30.6.1999
RM RM
Dibenarkan 1,000,000,000 1,000,000,000
Diterbitkan dan dibayar penuh:
Baki pada 1 Januari 138,545,827 138,536,529
Sepanjang jangkamasa - 4,950
Baki pada 30 Jun 138,545,827 138,541,479
Rancangan Pelaburan Semula Pendapatan telah tamat tempoh pada 7 November 1999 dan tidak ada
unit-unit diterbitkan pada jangkamasa perakaunan berakhir 30 Jun 2000. Sebanyak 6,070 unit-unit
telah diterbitkan pada harga RM0.80 setiap satu kepada Pemegang-pemegang Unit yang telah memilih
untuk melaburkan semua agihan pendapatan mereka untuk jangkamasa perakaunan berakhir
30 Jun 1999.
14. RIZAB LEBIHAN PENILAIAN SEMULA
Ini merupakan lebihan yang wujud daripada penilaian semula tanah pegang pajak dan milikbebas; dan
bangunan dan tidak boleh diagihkan melalui dividen tunai.
30.6.2000 30.6.1999
RM RM
Bangunan Arab-Malaysian - pegangpajak 24,220,113 91,015,714
Wisma Kimseah - milikbebas 1,826,585 1,826,585
26,046,698 92,842,299
15. RIZAB AM
Ini merupakan pendapatan selepas cukai yang timbul dari pertukaran dasar perakaunan yang tersebut
di dalam Nota 3(b).
16. PENDAPATAN SEWA KASAR
Pendapatan sewa kasar merangkumi sewa dan bayaran perkhidmatan yang telah diterima / akan terima
daripada penyewa-penyewa bangunan.
17. PERBELANJAAN KENDALIAN
Termasuk di dalam perbelanjaan kendalian adalah perbelanjaan berikut:
30.6.2000 30.6.1999
RM RM
Taksiran tanah 885,240 885,240
Cukai pintu 11,700 11,700
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18. YURAN PENGURUS
Yuran Pengurus adalah berbayar kepada Arab-Malaysian Property Trust Management Berhad. Ianya
dikira pada kadar 0.5% daripada Harta Bersih Amanah (seperti yang ditakrifkan di dalam Surat Ikatan
Amanah) untuk setiap jangkamasa perakaunan selama enam bulan. Tahun semasa merangkumi
jangkamasa dari 1 Januari 2000 sehingga 30 Jun 2000.
Tiada lain-lain yuran, komisen atau bayaran perkhidmatan permulaan yang telah dibayar atau perlu
dibayar kepada Pengurus.
19. YURAN PEMEGANG AMANAH
Yuran Pemegang Amanah adalah berbayar kepada Mayban Trustees Berhad. Ianya dikira pada kadar
0.03% daripada Harta Bersih Amanah (seperti yang ditakrifkan di dalam Surat Ikatan Amanah) untuk
setiap jangkamasa perakaunan selama enam bulan. Tahun semasa merangkumi jangkamasa dari
1 Januari 2000 hingga 30 Jun 2000.
20. CUKAI
30.6.2000 30.6.1999
RM RM
Cukai sepanjang jangkamasa 1,659,546 -
1,659,546 -
21. PENDAPATAN SEUNIT
Pendapatan seunit dikira berasaskan kepada pendapatan selepas cukai dan purata berwajaran bilangan
unit-unit di sepanjang jangkamasa perakaunan berakhir 30 Jun 2000 sebanyak 138,395,263 (1999 :
138,374,021 ).
22. URUSNIAGA DENGAN SYARIKAT-SYARIKAT YANGBERKAITAN DENGAN PENGURUS
30.6.2000 30.6.1999
RM RM
Terdiri daripada (pendapatan) / perbelanjaan Amanah:
Sewa (8,762,570) (8,671,592)
Faedah (67,105) (157,521)
Premium insuran 95,131 101,599
Yuran Pengurus Dana 12,133 5,772
Perbelanjaan faedah - 78,087
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23. SANDARAN HARTA KETARA BERSIH
30.6.2000 30.6.1999
RM RM
Harta bersih 185,694,663 250,716,624
Tolak: Perbelanjaan terbitan dan senaraian tertunda - (21,537)
Harta ketara bersih 185,694,663 250,695,087
Bilangan unit-unit yang diterbitkan 138,400,225 138,395,631
Harta ketara bersih setiap unit RM1.34 RM1.81
24. PEGANGAN UNIT OLEH PENGURUS
Pada 30 Jun 2000, Pengurus tidak memegang sebarang unit di dalam Amanah.
25. PEMEGANG-PEMEGANG UNIT YANG BERKAITAN DENGAN PENGURUS
Bilangan unit-unit Peratus jumlah
yang dipegang unit-unit yang diterbitkan
pada 30 Jun pada 30 Jun
2000 1999 2000 1999
Arab-Malaysian Development Bhd
dan anak syarikatnya 58,183,757 58,183,757 42.0% 42.0%
Arab-Malaysian Merchant Bank Berhad 2,008,000 2,008,000 1.5% 1.5%
26. PEMEGANG UNIT-UNIT OLEH PARA PENGARAH
Pemegang unit-unit oleh mereka yang memegang jawatan kepada Pengurus pada 30 Jun 2000 adalah
seperti berikut:-
Baki pada Baki pada
1 Januari 2000 Belian Jualan 30 Jun 2000
Tan Sri Dato’ Azman Hashim 500,199 - - 500,199
27. ANGKA-ANGKA BANDINGAN
Angka-angka bandingan yang dibentangkan adlah merangkumi jangkasa perkaunan dari 1 Januari
1999 ke 30 Jun 1999.
28. MATAWANG
Semua jumlah dinyatakan dalam matawang Ringgit Malaysia.
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A NALYSIS OF UNIT HOLDERS AS AT 30 JUNE 2000ANALISIS PEMEGANG-PEMEGANG UNIT PADA 30 JUN 2000
Number of units held at Percentage of30 June 2000 / total units in Issue /
Bilangan unit yang PeratusanTWENTY LARGEST UNIT HOLDERS / dipegang pada jumlah unitDUA PULUH PEMEGANG UNIT YANG TERBESAR 30 Jun 2000 yang diterbitkan
Arab-Malaysian Development Berhad 29,064,452 21.00Exotic Enterprise Sdn. Bhd. 16,356,000 11.82Living Development Sdn. Bhd. 12,763,305 9.22American International Assurance Co. Ltd. 6,900,000 4.99Malaysian Nasional Insurance Berhad 4,563,000 3.30Arab-Malaysian Merchant Bank Berhad 2,008,000 1.45Malaysia Life Fund 1,267,000 0.92Ong Chong Teok 696,000 0.50Foh Chong & Sons Sdn. Bhd. 662,000 0.48Tan Beng Guan 650,000 0.47Panglobal Insurance Berhad 636,000 0.46Azman bin Hashim 501,199 0.36Abdul Rahim bin Bidin 444,000 0.32Yong Jee Patt 435,000 0.31Goh Kow Moy @ Goh Cow Moy 407,005 0.29Chow Siew Har 402,000 0.29Inch Kenneth Kajang Rubber Public Ltd Company 392,000 0.28Tan Peng Khen 305,340 0.22Lee Ying Piew 302,000 0.22Siow Sin Soi 300,000 0.22
SUBSTANTIAL UNIT HOLDERS / PEMEGANG UNIT UTAMA
Arab-Malaysian Development Berhad 29,064,452 21.00Exotic Enterprise Sdn. Bhd. 16,356,000 11.82Living Development Sdn. Bhd. 12,763,305 9.22American International Assurance Co. Ltd. 6,900,000 4.99Malaysian Nasional Insurance Berhad 4,563,000 3.30
A NALYSIS OF UNIT HOLDERSANALISIS PEMEGANG-PEMEGANG UNIT
Number ofUnit Holders at Percentage
30 June 2000 / of total Unit Holdings atSize of Holdings / Bilangan Unit Holders / 30 June 2000 / Percentage ofSaiz Pemegang Pemegang Unit Peratusan Pegangan Unit Holdings /
pada 30 Jun Jumlah Unit pada Peratusan2000 Pemegang Unit 30 Jun 2000 Pegangan Unit
1 - 499 402 4.50 36,944 0.03500 - 5,000 6,395 71.66 14,626,672 10.575,001 - 10,000 1,049 11.75 8,851,826 6.3910,001 - 100,000 1,006 11.27 27,616,822 19.95100,001 - 1,000,000 65 0.73 14,346,204 10.37Above / ke atas 1,000,000 8 0.09 72,921,757 52.69
Total / Jumlah 8,925 100.00 138,400,225 100.00
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MANAGER / PENGURUSArab-Malaysian Property Trust Management Berhad (178289-D)
(a wholly-owned subsidiary of Arab-Malaysian Merchant Bank Berhad)Registered address : 22nd Floor, Bangunan Arab-Malaysian
No. 55, Jalan Raja Chulan50200 Kuala Lumpur
TRUSTEE / PEMEGANG AMANAHMayban Trustees Bhd (5004-P)
34th Floor, Menara Maybank100, Jalan Tun Perak50050 Kuala Lumpur
AUDITORS FOR THE TRUST / JURUAUDIT TABUNG AMANAHArthur Andersen & Co.
Public Accountants
SOLICITORS FOR THE TRUST / PEGUAMCARA TABUNG AMANAHShook Lin & Bok
David Chong & Co.
BUILDING MANAGER / PENGURUS BANGUNANJones Lang Wootton
TAXATION ADVISER / PENASIHAT PENCUKAIANPricewaterhouseCoopers
BANKERS FOR THE TRUST / BANK UNTUK TABUNG AMANAHMalayan Banking Berhad
UNIT REGISTRAR / PENDAFTAR UNITMalaysian Share Registration Services Sdn Bhd (378993-D)
7th Floor, Exchange SquareBukit Kewangan
50200 Kuala Lumpur
STOCK EXCHANGE LISTING / PENYENARAIAN BURSA SAHAMThe Kuala Lumpur Stock Exchange / Bursa Saham Kuala Lumpur
GENERAL ENQUIRIES / PERTANYAAN AMPlease contact / Sila hubungi
Arab-Malaysian Property Trust Management Berhad (178289-D)17th Floor, Bangunan Arab-Malaysian
No. 55, Jalan Raja Chulan50200 Kuala Lumpur
Tel : 238 2633, 238 2644 & 238 2655Fax : 466 0644
D IRECTORY / DIREKTORI