LAPORAN TAHUNAN A N N U A L R E P O R T - Ahp.com.my
LAPORAN TAHUNAN A N N U A L R E P O R T - Ahp.com.my
LAPORAN TAHUNAN A N N U A L R E P O R T - Ahp.com.my
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Laporan Tahunan 2009<br />
Annual Report 2009 82<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
FOR THE YEAR ENDED 31 DECEMBER 2009<br />
1. THE TRUST, THE MANAGER AND THEIR PRINCIPAL ACTIVITIES<br />
Amanah Harta Tanah PNB (“AHP” or “the Trust”), a Real Estate Investment Trust, was constituted under a Deed of Trust<br />
dated 20 March 1989, between the Manager, Pelaburan Hartanah Nasional Berhad (“PHNB”), the Trustee, Amanah Raya<br />
Berhad and the several persons who acquire units in the Trust.<br />
The Trust was launched on 21 March 1989 and was listed on the Bursa Malaysia Securities Berhad (“Bursa Securities”) on<br />
28 December 1990. The principal activity of the Trust is investment in real estates and other authorised investments with<br />
the objectives of achieving steady returns and for long term capital growth. There has been no significant change in the<br />
nature of this activity during the year.<br />
The Manager, a <strong>com</strong>pany incorporated in Malaysia, is a subsidiary <strong>com</strong>pany of Permodalan Nasional Berhad (“PNB”). The<br />
principal activity of the Manager is the management of real estate investment trusts. There has been no significant change<br />
in the nature of this activity during the year.<br />
PNB is a <strong>com</strong>pany incorporated in Malaysia. Its principal activity is investment holding which is mainly for the purpose of<br />
promoting greater ownership of share capital in the corporate sector in Malaysia by the Bumiputera.<br />
The financial statements were authorised for issue by the Board of Directors of the Manager in accordance with a resolution<br />
of the directors on 26 January 2010.<br />
2. TERM OF THE TRUST<br />
The Trust will continue its operations until such time as determined by the Trustee and the Manager as provided under the<br />
provisions of Clause 23 of the Third Supplemental Deed of Trust of AHP.<br />
3. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES<br />
Exposure to market, interest rate and credit risk arises in the normal course of the Trust’s business. The Trust has an approved<br />
set of investment guidelines and policies as well as internal controls which set out its overall business strategies to manage<br />
these risks to optimise returns and preserve capital for the unitholders, consistent with the long-term objectives of the<br />
Trust<br />
Market Risk<br />
The Trust actively manages its market risk through established investment guidelines and policies as well as portfolio<br />
asset allocation and diversification strategies. The Trust does not participate in any speculative activities.<br />
Exposure to market risk arises in the normal course of the Trust’s business from uncertainty in market prices of financial<br />
instruments invested by the Trust.<br />
Interest Rate Risk<br />
The Trust actively manages its interest rate risk by maintaining a portfolio of financial instruments guided by its investment<br />
guidelines and policies, and regular reviews of interest rates and market expectations.