232 AL-SALĀM REIT NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 ANNUAL REPORT 2023 18. Unitholders' capital No. of units 2023 2022 2023 2022 RM RM Group and Fund Unitholders' capital 580,000,000 580,000,000 572,545,319 572,545,319 The Fund issued 580,000,000 units of RM1 each in conjunction with the Fund’s Initial Public Offering (“IPO”) on the Main Market of Bursa Malaysia on 29 September 2015 of which 327,640,000 units of RM1 each were issued to vendors of the Fund’s investment properties to partially finance the acquisition of the said investment properties. The remaining 252,360,000 units of RM1 each were issued as part of the IPO to institutional investors and the Malaysian public. Details of units held by the related companies of the Manager which comprise companies related to Johor Corporation, a body corporate established under the Johor Corporation Enactment No. 4, 1968 (as amended by the Enactment No. 5, 1995), and substantial unitholders of the Fund, and their market value as of 31 December 2023 based on the Record of Depositors are as follows: No. of units 2023 2022 2023 2022 RM RM Group and Fund Related companies: Johor Corporation 24,436,600 24,436,600 11,729,568 9,041,542 Damansara Assets Sdn Bhd 278,539,417 278,539,417 133,698,920 103,059,584 Kulim (Malaysia) Berhad 27,060,600 27,060,600 12,989,088 10,012,422 Waqaf An-Nur Corporation Berhad 57,769,401 57,769,401 27,729,312 21,374,678 Johor Land Berhad 1,499,500 1,499,500 719,760 554,815 KPJ Healthcare Berhad 2,000,000 2,000,000 960,000 740,000 Kumpulan Bertam Plantations Berhad 296,000 296,000 142,080 109,520 Tenaga Utama (Johor) Berhad 7,688 7,688 3,690 2,845 Market value for purposes of disclosure above is based on the closing price of the Fund as shown on the board of the Main Market of Bursa Malaysia, which was RM0.48 per unit as at 31 December 2023 (2022: RM0.37 per unit).
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