LAPORAN TAHUNAN A N N U A L R E P O R T - Ahp.com.my

Laporan Tahunan 2009
Annual Report 2009 66
MANAGER’S REPORT ON AMANAH HARTA TANAH PNB
FOR THE YEAR ENDED 31 DECEMBER 2009
Pelaburan Hartanah Nasional Berhad (“PHNB”), the Manager of Amanah Harta Tanah PNB (“AHP” or “the Trust”), has pleasure in
presenting the Manager’s Report on the Trust together with the audited financial statements of the Trust for the financial year
ended 31 December 2009.
THE TRUST, THE MANAGER AND THEIR PRINCIPAL ACTIVITIES
AHP, a Real Estate Investment Trust, was constituted under a Deed of Trust dated 20 March 1989, between the Manager, PHNB, the
Trustee, Amanah Raya Berhad and the several persons who acquire units in the Trust.
AHP was launched on 21 March 1989 and was listed on Bursa Malaysia Securities Berhad (“Bursa Securities”) on 28 December
1990. The principal activity of the Trust is investment in real estates and other authorised investments with the objectives of
achieving steady returns and for long term capital growth. There has been no significant change in the nature of this activity
during the year.
The Manager, a company incorporated in Malaysia, is a subsidiary company of Permodalan Nasional Berhad (“PNB”). The principal
activity of the Manager is the management of real estate investment trusts. There has been no significant change in the nature
of this activity during the year.
PNB is a company incorporated in Malaysia. Its principal activity is investment holding which is mainly for the purpose of
promoting greater ownership of shares in the corporate sector in Malaysia by the Bumiputera.
MANAGEMENT FEE AND COMMISSIONS
No initial service charge, fee or commission has been earned by the Manager in managing the Trust other than the management
fee of RM1,500,820 (2008: RM1,476,788) as disclosed in Note 7 to the financial statements. As provided in the Deed of Trust, the
Manager is entitled to a management fee not exceeding 2% per annum of the net asset value of the Trust on each day of the
accrual period. The management fee charged for the year ended 31 December 2009 is 1% (2008: 1%) per annum of the daily net
asset value of the Trust.
TERM OF THE TRUST
The Trust will continue its operations until such time as determined by the Trustee and the Manager as provided under the
provisions of Clause 23 of the Third Supplemental Deed of Trust.
INVESTMENT OBJECTIVE
The main investment objective of the Trust is to provide reasonable level of income return to investors and allow them to gain
from capital growth through the acquisition of a selected portfolio of real estate investments which have potential for long term
capital growth.