AmFIRST REIT shall distribute at least 90% of the distributable income on a semi-annual basis within 2 months after the end of each half year, namely March and September.

Payments are made via cheque to each unit holder with an attached Distribution Tax Voucher detailing entitlement and gross/net amount payable.

Yes. At the Trust level, the source from which income is distributed could be derived from:

• Current year’s realized income before taxation;
• Current year’s tax exempt income, if any;
• Portion of “Accumulated Retained Earnings” that have been taxed;
• Portion of “Accumulated Retained Earnings” that consist of tax exempt income

Withholding tax will be deducted for distribution made to the following types of unitholders:-

• Resident and non-resident individuals (Withholding tax at 15%)
• Resident and non-resident institutional investors (Withholding tax at 20%)
• Resident companies (No withholding tax. Subject to corporate tax at prevailing rate)
• Non-resident companies (Withholding tax at 27% for Year of Assessment 2007)

For the financial period ended 31 March 2007, the gross income distribution was 1.946 sen per unit.

The income distribution yields are based on Initial Public Offering price of RM1 and the current market price.

The Deed is available for inspection at the principal place of business of the Manager and at the principal place of business of the Trustee, Mayban Trustee Berhad.

The Manager, may from time to time, recommend an increase in the number of units by way of rights issue or bonus issue to existing unitholders in proportion to their holding of units, or by any of placement to any person, as consideration issue for subscription or such other methods as may be accepted by the Securities Commission. The issue of units are to finance acquisitions for AmFIRST REIT or to balance the debt-equity matrix of the Fund. Prior approval from the Securities Commission and the Trustee are required for any increase in the size of the REIT through the creation of further units. The prior approval of the unitholders by way of ordinary resolution or otherwise will also be required for the creation of further units where stipulated in the Deed or under the applicable laws and requirements.

The rights of a Unitholder are as follows:-

• Receive income and other distributions attributable to the units held.
• Receive the interim reports within two (2) months from the end of the relevant period covered and also to receive the annual report of Am FIRST REIT within one (1) month from each financial year end.
• Participate in the termination of AmFIRST REIT by receiving a share of all net cash proceeds derived from the sale or realization of the assets of AmFIRST REIT less any liabilities, in accordance with their proportionate interests in AmFIRST REIT at the date of the termination of Am FIRST REIT.
• Attend and vote at any meeting of Unitholders, and to appoint another person (whatever a Unitholder or not) as its proxy to attend and vote.
• Remove or replace the Trustee by passing a Special Resolution in accordance with the Deed.
• Remove the auditor of AmFIRST REIT by a resolution passed by Unitholders holding not less than 2/3 of the units in circulation.
• Terminate AmFIRST REIT by passing a Special Resolution in accordance with the Deed.

Save where an amendment to the Deed has been approved by a resolution of not less than 2/3 of all unitholders (or such other majority as may be required under the Securities Commission Guideline on REITs) passed at a meeting of unitholders duly convened and held in accordance with the Deed unless the Trustee certifies, in its opinion, that such amendment does not materially prejudice the interests of unitholders and does not operate to release to any material extend the Trustee or the Manager from any responsibility to the unitholders.

Under the applicable law and requirements and the provisions of the Deed, AmFIRST REIT will not hold any meetings for unitholders unless the Trustee or the Manager convenes a meeting or unless not less than 50 unitholders or 1/10 of the number of unitholders (whichever is lesser) request a meeting to be convened.

Any decision to be made by resolution of unitholders shall be made by ordinary resolution, unless a special resolution is required by the applicable laws and requirements and/or the Deed.

At least 14 days notice of every meeting (other than a meeting convened to pass a special resolution, which requires at least 21 days notice) shall be given to the unitholders in the manner provided in the Deed. The quorum at a meeting shall be as follows:

• Where an ordinary resolution only is to be proposed, at least five persons holding or representing by proxy at least 10% of all the units and carrying the right to vote at the meeting; and
• Where a special resolution is to be proposed, at least five persons holding or representing by proxy at least 15% of all the units and carrying the right to vote at the meeting.

Voting at a meeting shall be by a show of hands provided that a poll shall be taken in case where:

• It is required by the Deed or by law that the resolution be decided by a majority which is to be measured by a percentage of the votes of those present; or
• It is demanded either before or immediately after any question is put to a show of hands by unitholders present, holding (or representing by proxy) between them not less than 5% of the units issued.

No. Neither the Manager nor its related corporations or associated persons (as defined in the Deed) shall be entitled to vote in respect of any matter and shall not be counted in a quorum, unless otherwise permitted by the Securities Commission.