NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 18. Unitholders’ capital (cont’d) During the year, the Fund increased its Issued and fully paid-up unitholders’ capital from RM731,398,126 to RM756,408,942 by way of the issuance of 20,500,669 units of unitholders’ capital at an issue price of RM1.22 per unit to KPJ Healthcare Berhad offset against the proceeds from acquisition of hopsitals. Details of units held by the Manager’s directors and unitholders, and related parties which comprise companies related to Johor Corporation and KPJ Healthcare Berhad, substantial unitholders of the Fund, and their market value as of 31 December 2022 and 31 December 2021 respectively based on the Record of Depositors are as follows: 2022 2021 No. of units RM No. of units RM Related parties: Pusat Pakar Tawakal Sdn Bhd 54,648,534 66,671,211 54,648,534 63,392,299 Bandar Baru Klang Specialist Hospital Sdn Bhd 36,115,266 44,060,625 36,115,266 41,893,709 Selangor Medical Centre Sdn Bhd 35,000,000 42,700,000 35,000,000 40,600,000 Seremban Specialist Hospital Sdn Bhd 23,731,000 28,951,820 23,731,000 27,527,960 Ampang Puteri Specialist Hospital Sdn Bhd 21,013,739 25,636,762 21,013,739 24,375,937 KPJ Healthcare Berhad 20,500,669 25,010,816 - - Medical Associates Sdn Bhd 19,055,000 23,247,100 19,055,000 22,103,800 Waqaf An-Nur Corporation Berhad 18,251,870 22,267,281 - - Sentosa Medical Centre Sdn Bhd 15,653,000 19,096,660 15,653,000 18,157,480 Kedah Medical Centre Sdn Bhd 15,000,000 18,300,000 15,000,000 17,400,000 Johor Specialist Hospital Sdn Bhd 12,203,000 14,887,660 12,203,000 14,155,480 Puteri Specialist Hospital Sdn Bhd 12,000,000 14,640,000 12,000,000 13,920,000 Perdana Specialist Hospital Sdn Bhd 11,789,000 14,382,580 11,789,000 13,675,240 KPJ Healthcare University College Sdn Bhd 7,758,620 9,465,516 7,758,620 8,999,999 Kuantan Specialist Hospital Sdn Bhd 5,000,000 6,100,000 5,000,000 5,800,000 Kajang Specialist Hospital Sdn Bhd 4,487,000 5,474,140 4,487,000 5,204,920 Jeta Gardens (Qld) Pty Ltd 3,786,924 4,620,047 3,786,924 4,392,832 Kota Kinabalu Specialist Hospital Sdn Bhd 3,500,000 4,270,000 3,500,000 4,060,000 Taiping Medical Centre Sdn Bhd 3,334,000 4,067,480 3,334,000 3,867,440 Johor Ventures Sdn Bhd 173,219 211,327 173,219 200,934 19. Management Expense Ratio (“MER”) Fund 2022 2021 % % MER 0.29 0.29 The calculation of MER is based on the total fees of the Fund incurred for the year, including the Manager’s fees, Trustee’s fees, audit fee, tax agent’s fee and administration expenses, to the average net asset value of the Fund during the year calculated on a monthly basis. Since the average net asset value is calculated on a monthly basis, comparison of the MER of the Fund with other Real Estate Investment Trusts (“REITs”) which use a different basis of calculation may not be an accurate comparison. 183 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
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