Financial Year Ended 31 December 2019 2018 2017 2016 2015
No. of Months 12 12 12 12 12
Audited / Restated Audited Audited Audited Audited Audited
(RM'000) (RM'000) (RM'000) (RM'000) (RM'000)
 
Total income
Revenue 160,992 172,527# 181,502# 136,648# 120,290#
Property operating expenses (39,244) (39,725) (40,161) (29,493) (24,903)
Net property income 121,748 132,802 141,341 107,155 95,387
 
Interest Income 3,223 4,327 3,590 2,384 1,591
Net fair value gain / (loss) on investment properties (35,656) (4,585)# (19,572)# (1,318) # 1,562
Gain on divestment of investment property 2,197 - - 595
  89,314 134,741 125,359 108,220 99,135
 
Total expenditure
Manager's fees (12,761) (13,254) (13,458) (9,677) (8,554)
Trustee's fee (676) (686) (689) (487) (436)
Finance costs (39,594) (40,590) (40,513) (33,036) (28,647)
Valuation fees (329) (357) (298) (361) (243)
Auditors' remuneration (147) (147) (119) (150) (141)
Tax agent's fee (32) (50) (23) (54) (34)
Administrative expenses (415) (395) (349) (1,685) (382)
  (53,954) (55,479) (55,449) (45,450) (38,437)
 
Income before taxation 35,360 79,262 69,910 62,770 60,698
Income tax expense (6,238) (6,132) - - -
Income net of taxation 29,122 73,130 69,910 62,770 60,698
 
Other comprehensive income:
(Loss)/gain on remeasurement of financial derivatives 104 238 317 (3,264) 1,056
Adjustment of remeasurement of matured derivatives - - - - -
Total comprehensive income for the financial period/year 29,226 73,368 70,228 59,506 61,754
 
Net income for the period/year is made up as follows:
- Realised 72,108 84,654 88,007 59,156 54,021
- Unrealised (42,986) (11,524) (18,096) 3,614 6,677
  29,122 73,130 69,910 62,770 60,698
 
Earnings per unit
- After manager's fees (sen) 2.72 6.83 6.55 9.33 10.18
- Before manager's fees (sen) 3.91 8.07 7.81 10.77 11.62
 
Earnings per unit (realised)
- After manager's fees (sen) 6.73 7.91 8.24 8.80 9.06
- Before manager's fees (sen) 7.92 9.14 9.50 10.24 10.50
 
Distributable Income@ 73,008 87,054 91,982 59,156 54,021
Distributable Income Per Unit@ 6.81 8.13 8.61 8.80 9.06
 
Income distribution 73,008 86,600 89,605 55,424 50,919
Income distribution per unit (sen) 6.80 8.08 8.39 8.38 8.47

Note:

# Inclusive of unrealised rental income-unbilled lease income receivable pursuant to requirements of MFRS 117 Leases
@ After non-cash adjustments for manager's fees payable in units and amount previously not distributed.