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Table Of Contents

Years Event
Country Market Capitalization(USmillion)
2. Development of REITs In Malaysia
Table 3: Malaysian REITS Specialization And Example
3. REITS In Malaysia
Pie Chart 1: Comparison Between REITS and iREITS in Market Capitalization
Pie Chart 2: iREITs Market Capitalization Comparison
CHARACTERISTICS OF SHARIAH-COMPLIANT REITS
Compliance Assessment Process
1. Non-Permissible Rental Activities
2. Rental from Tenant who Operates Mixed Activities
3. Method of Calculating the Ratio of Rental of Non-Permissible Activities
4. Acquisition of Real Estate
5. Renting Out to New Tenant
6. Instruments used in investment, deposit and financing for Islamic REITs
7. Takaful Coverage
8. Risk Management Issues
3. Al-Hadharah Boustead REIT
Introduction
Key Milestones
Date Event
Revisited The Initial Public Offering
4.1 The Structure of Al-Hadharah Boustead REIT
MARKET VALUATION
The Deed
Rights and Liabilities of Unit holders
authority or discretion of the Manager or the Trustee
(e) The liability of a Unit holder is limited to the amount payable
INCOME STREAMS
i. Fixed Rental
ii. Performance-Based Profit Sharing
iii. Capital Gains
DIVIDENDS
i. Projected Dividends
ii. Variable Dividends
iii. Bonus Dividends
4.4 INVESTMENT OBJECTIVES
4.5 STRATEGY
4.5.1 Organic Growth Strategy
(a) Proactive asset management
(b) Maintain Replanting Programme
(c) Asset Enhancements
(d) Cost Effectiveness, Cost Efficiency and Excellence in
Application
(e) Sustainable Agriculture
4.5.2 Financing strategy
Analysis on Islamic Model of Al-Hadharah Boustead REIT
Type of Fees Service
Tenant¶s Mudharabah Profits Sharing
Ijarah Agreement& Arrangement
Performance of Al-Hadarah Boustead REIT
Distribution Per Unit, Net Profit and Rental Revenue
YEAR RENTAL REVENUE
NET PROFIT
DISTRIBUTION PER UNIT
(SEN PERUNIT)
KEY BENEFITS OF INVESTING IN REITs
(a) Higher dividend yield
(b) Transparent investment policy
(c) Liquidity
(d) Diversification
(e) Affordability
(f) Long run inflation hedge
(g) Stable returns
(h) Professional management
(i) Potential capital appreciation
(j) Ownership of investment grade real estates
REITs Benefits To Boustead Holdings Berhad
(i) Generates Available Cash
(ii) MaintainTheOwnership
(iii) Tax Exemption
RISKS OF INVESTING IN REITS
(a) General risk
Economic, political and regulatory risks
Fund management risk
Loan financing risk
Risk of non-compliance
Dividend distribution not guaranteed
Capital market risk
Risks associated with financing
Takaful risk
Risk relating to investments in the plantation estate
Risk relating to investment in other authorised investments
Market risks
COMPARISON WITH OTHER FORMS OF INVESTMENTS
Cash and fixed deposits
Investment in bonds
Direct investment in real estates
Investment in shares
Financial derivative products
Types of investment
Risk level Expected return level
8. CONCLUSION
Appendix 1
SALIENT TERMS OF THE SPA(s) AND IJARAH AGREEMENTS
6.1. SPA(s)
6.2 Ijarah Agreement(s)
[A ± B] X [C X D X E]
7. FUTURE PROSPECT AL-HADHARAH BOUSTEAD REIT
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Al-Hadharah Boustead REIT Update

Al-Hadharah Boustead REIT Update

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Published by: Muhammad Nor Azam Samah on May 27, 2011
Copyright:Attribution Non-commercial

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04/03/2013

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