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

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AMANAH HARTA TANAH PNB 75 INDEPENDENT AUDITORS’ REPORT TO THE UNIT HOLDERS OF AMANAH HARTA TANAH PNB (“the Trust”) Report on the financial statements We have audited the financial statements of AMANAH HARTA TANAH PNB (“the Trust”), which comprise the Statement of Assets and Liabilities as at 31 December 2009, and the Statement of Income and Expenditure, Statement of Changes in Net Asset Value Attributable to Unit Holders and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 76 to 103. Manager’s and Trustee’s responsibility for the financial statements The Manager of the Trust is responsible for the preparation and fair presentation of these financial statements in accordance with Financial Reporting Standards and the Securities Commission’s Guidelines on Real Estate Investment Trusts in Malaysia. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. The Trustee is responsible for ensuring that the Manager maintains proper accounting and other records as are necessary to enable fair presentation of these financial statements. Auditors’ responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Trust’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made by the Manager, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and the Securities Commission’s Guidelines on Real Estate Investment Trusts in Malaysia so as to give a true and fair view of the financial position of the Trust as at 31 December 2009, and of its financial performance, changes in net asset value attributable to unit holders and cash flows for the year then ended. Other matters This report is made solely to the unit holders of the Trust, as a body, and for no other purpose. We do not assume responsibility to any other person for the content of this report. Hanafiah Raslan & Mohamad Abdul Rauf bin Rashid AF: 0002 No. 2305/05/10(J) Chartered Accountants Chartered Accountant Kuala Lumpur, Malaysia 26 January 2010
Laporan Tahunan 2009 Annual Report 2009 76 STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2009 INCOME Note 2009 2008 RM RM Gross rental income 5 13,970,519 13,696,813 Less: Real estates operating expenditure 6 (5,071,469) (4,966,980) Depreciation (1,912) (4,365) Net rental income 8,897,138 8,725,468 Interest income from deposits with financial institutions 200,668 271,312 Realised gain on disposal of: - Real estate-related assets 58,365 2,130 - Non-real estate-related assets 193,985 100,599 Unrealised gain/(loss) on valuation of: - Real estates - 1,805,000 - Real estate-related assets 20,250 (7,726) - Non-real estate-related assets 160,258 (344,276) Gross dividends from investments in: - Real estate-related assets 6,857 - - Non-real estate-related assets 48,810 88,188 EXPENDITURE 9,586,331 10,640,695 Management fee 7 (1,500,820) (1,476,788) Trustee’s fee 8 (130,000) (130,000) Auditors’ remuneration (13,500) (13,500) Tax agent’s fee (3,800) (3,800) Valuation fee (4,950) (67,887) Printing, postage and general expenses (99,116) (198,091) Borrowing cost 9 (370,565) - (2,122,751) (1,890,066) NET INCOME BEFORE TAXATION 7,463,580 8,750,629 TAXATION 10 - - NET INCOME AFTER TAXATION 7,463,580 8,750,629
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LAPORAN TAHUNAN A N N U A L R E P O R T - Ahp.com.my

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