Axis Real Estate Investment Trust

INCOME DISTRIBUTION REINVESTMENT PLAN (IDRP)

2023 IDRP Statement
IDRP Sample Form 1 (for Unitholders with or more than 16,000 units)
IDRP Sample Form 2 (for Unitholders with less than 16,000 units)

IDRP FAQ

How does it work?

Whenever a cash income distribution (either an interim or final income distribution) is announced, the Board of Directors ("Board") of the management company of Axis-REIT ("Manager"), may, in its absolute discretion, determine that the IDRP will apply to the whole or a portion of the income distribution (called the electable portion) and where applicable, any remaining portion of the income distribution will be paid in cash (called the remaining portion).

Each Unitholder has the following options in respect of the electable portion:

Choose to receive the electable portion in cash; or
Choose to reinvest the entire electable portion in new Units credited as fully paid-up at an issue price to be determined on a price-fixing date; or
Choose to receive part of the electable portion in cash and reinvest the remaining part of the electable portion in new Units credited as fully paid-up at an issue price to be determined on the price-fixing date in the proportion determined by the Board in its absolute discretion.

Will I still have withholding tax deducted?

All gross income distribution with respect to the electable portion and the remaining portion will still be subject to the usual withholding tax. The net income distribution (net of withholding tax) will either be paid in cash and/or reinvested in new Units at its equivalent amount (as the case may be).

There is no tax advantage to be gained by Unitholders in any of the abovementioned options elected.

Will the Units I receive be at a discount?

Unitholders will be able to receive new Units at an issue price with an implied discount.

The issue price of such new Units to be issued under the IDRP shall not be priced more than 10% discount to the five (5)-day volume weighted average market price (VWAMP) of the Units immediately before the price-fixing date.

Price-fixing date shall mean the date on which the issue price of the new Units to be issued under the IDRP is determined by the Board.

When will I get my new IDRP Units?

An announcement on the book closure date (entitlement date) will be made on the price-fixing date. Subsequently, notices of election containing details of the IDRP and information memorandum (which was applicable only at the commencement of the first IDRP implemented in 2011) will be despatched to entitled Unitholders. The expiry date which is the last date for the entitled Unitholders to make an election in relation to the electable portion, will be stated in the notice of election. The entitled Unitholders will be given at least fourteen (14) days from the despatch of the notice of election to submit the completed notice of election.

Within eight (8) market days from the expiry date, or on such date as may be prescribed by Bursa Malaysia Securities Berhad, Axis-REIT will allot and issue the new Units under the IDRP on the allotment date. The remaining portion and the electable portion (where Unitholders choose to receive the electable portion or part of the electable portion in cash), as the case may be, will be paid to the respective Unitholders in the usual manner. An announcement will also be made on the listing of and quotation for the new Units to be issued under the IDRP on the Main Market of Bursa Malaysia Securities Berhad.

As the new Units to be issued under the IDRP are prescribed securities, the new Units will be credited directly into the respective Central Depository System accounts of the Unitholders and shall, upon allotment and issue, rank equally in all respects with the existing Units. However, the new Units will not be entitled to any distributable income, right, benefit, entitlement and/or any other distributions that may be declared before the allotment date.

The following is an indicative timeline from the announcement date made by the Board until the listing of and quotation for the new Units under the IDRP:

DESCRIPTION	TIMELINE (market days)
Announcement of book closure date ("BCD")* for income distribution in respect of the distribution period to which the IDRP applies and the announcement of the issue price of the new Units to be issued under the IDRP	T
BCD	T + 10
Despatch of withholding tax confirmation letters	T + 11
Deadline for withholding tax confirmation to be returned	T + 16
Despatch of Notice of Election to entitled Unitholders	T + 18
Expiry Date for completion and return of the Notice of Election	T + 28
Allotment of the new Units and Payment of income distribution in cash	T + 36
Listing of new Units on Bursa Malaysia Securities Berhad	T + 37

^{* BCD to be at least ten (10) market days after the date of announcement}

What is the Board's authority in respect of the application of the IDRP?

The Board has full authority to determine if the IDRP will apply to a particular income distribution. If the Board has decided not to apply the IDRP to a particular income distribution then the income distribution declared in that quarter/period concerned will be paid in cash to the Unitholders in the usual manner.

The maximum number of new Units to be issued under the IDRP will depend on the Board's decision on the size of the electable portion, the total number of Units held by Unitholders who elect to reinvest the electable portion in new Units and the issue price which will be determined by the Board on the price-fixing date.

What happens if I elect not to participate?

If Unitholders do not expressly elect in writing to participate in the IDRP, they will receive their electable portion in cash. As such, Unitholders need not take any action if they wish to receive their electable portion entirely in cash.

Does the Board have the authority to cancel the availability of the IDRP?

Notwithstanding any provision of the IDRP, if, at any time after the Board has determined that the IDRP shall apply to any income distribution and before the allotment date in respect of the electable portion, the Board considers that by reason of any event or circumstance (whether arising before or after such determination) or by reason of any matter whatsoever, it is no longer expedient or appropriate to implement the IDRP in respect of the electable portion, the Board may, in its absolute discretion and as it deems fit in the interest of Axis-REIT and without assigning any reason thereof, cancel the application of the IDRP in relation to the electable portion. In such an event, the electable portion shall be paid entirely in cash to Unitholders in the usual manner.

Who is eligible to participate?

All Unitholders are eligible to participate in the IDRP, subject to the restrictions on the Unitholders with registered addresses outside Malaysia as at the relevant book closure date for the income distribution to which the IDRP applies.

This is also subject to the requirement that such participation by the Unitholder will not result in a breach of any other restriction on such a Unitholder's unitholding in Axis-REIT which may be imposed by any statute, law or regulation in force in Malaysia or any other relevant jurisdictions, as the case may be, or as prescribed in the Deed constituting Axis-REIT.

What about odd lots?

A Unitholder who elects to reinvest the electable portion in new Units to which his notice of election relates, may receive such new Units in odd lots. Unitholders who receive odd lots of new Units and who wish to trade such odd lots on Bursa Malaysia Securities Berhad should do so on the Odd Lot Market, which allows trading of odd lots with a minimum of one (1) Unit.

10.

Can the IDRP be terminated?

The IDRP may be modified, suspended (in whole or in part) or terminated at any time by the Board as the Board deems fit or expedient by giving notice in writing to all Unitholders.

11.

What are other issues relating to the IDRP?

It should be noted that the grant of the right to participate in the IDRP is made to all Unitholders, including the directors and major shareholder of the Manager, major Unitholders and persons connected to them who hold Units.

The net proceeds from the IDRP (after deducting estimated expenses for the IDRP) will be utilised to refurbish and/or renovate the properties in the portfolio of Axis-REIT, and/or for any other purpose(s) that the Manager and the trustee of Axis-REIT deem fit and in the best interest of the Unitholders. The refurbishment and/or renovation of Axis-REIT's properties are expected to enhance the future income to be generated from the said properties moving forward.

A Unitholder's unitholding in Axis-REIT will be diluted if he/she chooses to receive the electable portion (or part thereof) in cash. The extent of such dilution will depend on the size of the electable portion, the total number of Units held by the Unitholders who elect to reinvest the electable portion in new Units and the issue price which will be determined by the Board on the price-fixing date.

The total amount of income distribution to be declared, the size of the electable portion and, consequently, the maximum number of new Units to be issued under the IDRP would depend on the financial performance and cash flow position of Axis-REIT and prevailing economic conditions. The size of the electable portion will be determined by the Board in its sole and absolute discretion from time to time.

The process flow chart in relation to the IDRP process

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Data Protection Notice

The personal data that we process and/or will process may include your name, contact details, email address, home address and mailing address and any other personal data derived from any documentation.

Subject to the relevant laws, we may use your personal data for the following purposes:

a. to enable us to discharge our contractual obligations;

b. for data processing or reporting purposes;

c. to comply with any legal and/or regulatory requirements;

d. for billing and financial purposes, accounting and tax;

e. to respond to your enquiries or complaint;

f. to provide marketing materials about events, services and products;

g. for contact purposes; and

h. for any other purpose that is permitted by law and regulations.

It is mandatory that you supply us your personal data so we may be able to satisfy the above purposes. If you do not provide us the personal data, we may not be able to carry out the above stated purposes.

Your personal data is collected from various sources, including information you may have provided us, information from third parties and information in the public domain. We may transfer your personal data to our related entities or external service providers outside Malaysia for the above purposes.

Subject to the requirement under the Act, if you would like to make any enquiries or complaints or request access or correction of your personal data, please contact us in writing using any of the following modes:

Mailing Address : Penthouse, Menara Axis, No. 2 Jalan 51A/223, Petaling Jaya, 46100 Selangor, Malaysia

Telephone No : +603 7958 4882

Fax No : +603 7957 6881

Email Address : info@axis-reit.com.my

We may disclose your personal data to the following parties for the purposes stated above:

a. our subsidiaries, related and associated companies;

b. the supervisory, governmental or relevant authority;

c. auditors, solicitors, professional advisors, insurer and financial institutions; and

d. any person which we may engage for the purpose of performing or in connection with the performance of services or operational functions which have been outsourced.

You hereby consent to the processing of your personal data in accordance with all of the foregoing. We will seek your consent before using your personal data for purposes other than those stated above.

Disclaimer

The information contained in this website is provided for information purposes only and in no way constitutes an offer of services or solicitation. You should rely on your own evaluation to assess the merits and risks of any investments. If you are in doubt, you should consult your professional advisers immediately.

Past performance of Axis REIT is not indicative of future performance of Axis REIT. Axis REIT declines any responsibility with respect to direct or indirect damages or consequences of the inaccuracy of information included in the website, nor for any actions taken in reliance thereon.

This website may contain certain forward looking statements. These forward looking statements are based upon current assumptions and beliefs in light of the information currently available, but involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. Axis REIT actual actions or results may differ materially from those discussed in the forward looking statements and Axis REIT undertake no obligation to publicly update any forward looking statements.

Privacy Notice

English | Bahasa Malaysia

(Updated as of 26 July 2023)

Axis REIT Managers Berhad, being the management company of Axis Real Estate Investment Trust (“Axis-REIT”) is committed to ensure the processing of personal data by us is in accordance with the Personal Data Protection Act 2010 (“ PDPA”). This notice is issued pursuant to PDPA’s requirement to all persons who enter into any dealing or transaction(s) with Axis-REIT.

The personal data that we process and/or will process may include your name, contact details, e-mail address, home address and mailing address and any other personal data derived from any documentation and such necessary data regarding yourself and your transaction(s) with us.

Subject to the relevant laws, we may use your personal data for one or more of the following purposes:

To establish your identity and background;
To enable us to discharge our contractual obligations;
For data processing or reporting purposes;
To comply with any legal and/or regulatory requirements;
For billing and financial purposes, accounting and tax;
To respond to your enquiries or complaints;
To provide marketing materials about events, services and products;
For contract purposes;
For other purposes as you have consented or directed by you or otherwise in connection with your access to and use of information and materials in this website; and
For any other purposes that is required or permitted by any law, regulations, guidelines and/or relevant regulatory authorities.

We only collect personal data that is necessary to perform our functions and activities in the course of our dealings with you. It is obligatory that you supply us your personal data where required so that we may be able to satisfy the above purposes. If you do not provide us the personal data or consent to certain use of your personal data, we may not be able to carry out the above stated purposes. Your personal data is collected from various sources, including information you may have provided us, information from third parties and information in the public domain. We may transfer your personal data to our related entities or external service providers outside Malaysia (if any) for the above purposes.

Subject always to our contractual rights and obligations under relevant laws and regulations, you may:

Request to have access to your personal data in our possession;
Request to correct your personal data where you are of the opinion that such personal data held by us is inaccurate, incomplete, misleading or where relevant, not up-to-date;
Request us to limit the processing of your personal data;
Exercise your choice in respect of the use or the extent of use of your personal data, including personal data relating to other persons who may be identified from that personal data; or
Withdraw your consent for us to process your personal data.

Any of your above requests may be made to Rebecca Leong, our Head of Compliance from the Compliance Department in writing using any of the following modes:

Mailing address:	Axis REIT Managers Berhad Penthouse, Menara Axis No. 2 Jalan 51A/223 46100 Petaling Jaya Selangor Darul Ehsan, Malaysia
Telephone No:	603-7958 4882
Fax No:	603-7957 6881
E-mail Address:	pdpa@axis-reit.com.my

In relation to any such request, you should provide your full name, address, phone number and provide brief details of the information you want a copy of or information that you want to have corrected (as the case may be). We will use our best efforts to comply with your request to access or correct your personal data within 21 days of receipt of your request and the relevant processing fee (if applicable and where permitted under the applicable law).

Kindly note that we may withhold access to your personal data if we are unable to verify your identity or where information requested for is confidential commercial information, or if the burden or expense of providing access is disproportionate to the risks to your privacy. We may also decline to comply with your data correction request if you have not supplied us with such information as we may reasonably require to ascertain in what way the personal data to which the data correction request relates is inaccurate, incomplete, misleading or not up-to-date. Where applicable, we will inform you of the reasons for refusing your request(s).

We may disclose your personal data to the following parties for the purposes stated above:

our subsidiaries, related and associated companies;
the supervisory, governmental or relevant authorities ;
auditors, solicitors, professional advisors, insurers and financial institutions; and
any person which we may engage for the purpose of performing or in connection with the performance of services or operational functions which have been out-sourced.

We take these measures to protect your personal data:

By ensuring your personal data is kept as required by the PDPA; and
By ensuring that our employees do not misuse your personal data.

We will retain your personal data for as long as you have dealings with us and we will not keep your personal

By providing us your personal data, you hereby consent to the processing of your personal data in accordance with all of the foregoing. We will seek your consent before using your personal data for purposes other than those stated above.

In the event of any inconsistency between the English version and Bahasa Malaysia version of this notice, the English version shall prevail over the Bahasa Malaysia version.

This Privacy Notice may be amended from time to time and the updated version shall supersede all previous versions (including physical copies, if any). You are encouraged to check our website periodically for our most up-to-date Privacy Notice.

(Dikemaskini pada 26 Julai 2023)

Axis REIT Managers Berhad sebagai syarikat pengurusan Axis Real Estate Investment Trust ("Axis REIT") komited untuk memastikan pemprosesan data peribadi oleh kami adalah mengikut Akta Perlindungan Data Peribadi 2010 (“PDPA”). Notis ini dikeluarkan menurut keperluan PDPA kepada semua orang yang memasuki sebarang urusan atau transaksi dengan kami dan/atau Axis-REIT.

Data peribadi yang diproses oleh kami atau akan diproses oleh kami mungkin termasuk nama anda, butirbutir hubungan, alamat e-mel, alamat kediaman dan alamat surat-menyurat dan apa-apa maklumat peribadi lain yang diperoleh daripada mana-mana dokumentasi dan data yang diperlukan berkenaan diri dan transaksi anda dengan kami.

Tertakluk kepada undang-undang yang berkaitan, kami mungkin menggunakan data peribadi anda untuk satu atau lebih tujuan-tujuan berikut:

Untuk menentukan identiti dan latar belakang anda;
Untuk membolehkan kami menunaikan kewajipan kontraktual kami;
Untuk tujuan pemprosesan data atau pelaporan;
Untuk mematuhi apa-apa keperluan undang-undang dan/atau peraturan-peraturan;
Untuk tujuan pengeluaran bil dan kewangan, perakaunan dan cukai;
Untuk membalas pertanyaan atau aduan anda;
Untuk menyediakan maklumat mengenai acara dan program, perkhidmatan dan produk;
Untuk tujuan kontrak;
Untuk tujuan lain seperti yang anda telah persetujui atau diarahkan oleh anda atau sebaliknya yang berkaitan dengan akses anda kepada dan penggunaan maklumat dan bahan dalam laman web kami; dan
Untuk sebarang tujuan lain yang diperlukan atau dibenarkan oleh mana-mana undang-undang, peraturan, garis panduan dan/atau pihak berkuasa kawal selia yang berkaitan.

Kami hanya mengumpul data peribadi yang diperlukan untuk melaksanakan fungsi dan aktiviti kami semasa berurusan dengan anda. Anda wajib membekalkan kami data peribadi anda jika diperlukan supaya kami dapat memenuhi tujuan di atas. Jika anda tidak memberikan kami data peribadi atau persetujuan untuk penggunaan maklumat peribadi anda yang tertentu, kami mungkin tidak mampu melaksanakan tujuan yang dinyatakan di atas. Maklumat peribadi anda dikumpul daripada pelbagai sumber, termasuk maklumat yang anda mungkin telah kemukakan kepada kami, maklumat daripada pihak ketiga dan maklumat dalam domain awam. Kami mungkin memindah data peribadi anda kepada entiti-entiti yang berkaitan dengan kami atau pembekal perkhidmatan luar yang berada di luar Malaysia (sekiranya ada) untuk tujuan-tujuan di atas.

Tertakluk kepada hak-hak dan kawajipan kontrak kami di bawah undang-undang dan peraturan yang berkaitan, anda boleh;

Meminta akses kepada data peribadi anda dalam simpanan kami;
Meminta pembetulan data peribadi anda apabila anda berpendapat bahawa data peribadi yang kami simpan adalah tidak tepat, tidak lengkap, mengelirukan atau jika berkaitan, bukan yang terkini;
Meminta untuk mengehadkan pemprosesan data peribadi anda; atau
Melaksanakan pilihan anda berkenaan dengan penggunaan atau takat penggunaan data peribadi anda, termasuk data peribadi yang berkaitan dengan orang lain yang mungkin dikenalpasti daripada data peribadi tersebut.

Sebarang permintaan anda di atas boleh dibuat kepada Rebecca Leong, Ketua Pematuhan dari Jabatan Pematuhan kami secara betulis menggunakan mana-mana mod berikut:

Alamat surat-menyurat:	Axis REIT Managers Berhad Penthouse, Menara Axis No. 2 Jalan 51A/223 46100 Petaling Jaya Selangor Darul Ehsan, Malaysia
No. Telefon:	603-7958 4882
No. Faks:	603-7957 6881
Alamat E-mel:	pdpa@axis-reit.com.my

Dalam setiap permintaan tersebut, anda harus memberikan nama penuh, nombor kad pengenalan/nombor pasport, alamat, nombor telefon anda dan memberikan butiran ringkas tentang maklumat yang anda inginkan atau maklumat yang anda ingin perbetulkan (mengikut keadaan). Kami akan menggunakan usaha terbaik kami untuk memenuhi permintaan anda untuk mendapatkan akses atau membuat pembetulan data peribadi anda dalam tempoh 21 hari selepas menerima permintaan bertulis dan borang permintaan yang lengkap dari anda dan yuran pemprosesan (jika berkenaan dan dibenarkan dibawah mana-mana undangundang yang berkenaan).

Sila ambil perhatian bahawa kami mungkin menolak akses kepada data peribadi anda jika kami tidak dapat mengesahkan identiti anda atau apabila maklumat yang diminta adalah maklumat komersial yang sulit, atau jika beban atau perbelanjaan untuk menyediakan akses adalah tidak seimbang dengan risiko kepada privasi anda. Kami juga mungkin menolak permintaan pembetulan data anda jika anda tidak membekalkan kami maklumat sedemikian yang kami perlukan secara munasabah untuk memastikan cara bagaimana data peribadi yang berkaitan dengan permintaan pembetulan data adalah tidak tepat, tidak lengkap, mengelirukan atau tidak dikemaskini setakat ini. Kami akan memaklumkan anda sebab penolakan permintaan anda, jika berkenaan.

Kami mungkin mendedahkan data peribadi anda kepada pihak-pihak berikut untuk tujuan-tujuan yang dinyatakan di atas:

anak-anak syarikat, syarikat-syarikat berkaitan dan syarikat-syarikat bersekutu kami;
pihak berkuasa penyeliaan, kerajaan atau pihak berkuasa lain yang berkaitan;
juruaudit, peguam cara, penasihat profesional, syarikat insurans dan institusi kewangan; dan
mana-mana orang yang kami lantik untuk tujuan melaksanakan atau berhubung dengan pelaksanaan perkhidmatan atau fungsi operasi yang menggunakan khidmat luar.

Kami mengambil langkah-langkah ini untuk melindungi data peribadi anda:

Memastikan data peribadi anda disimpan seperti yang dikehendaki oleh PDPA; dan
Memastikan pekerja kami tidak menyalahgunakan data peribadi anda.

Kami akan menyimpan data peribadi anda selagi anda berurusan dengan kami dan kami tidak akan menyimpan data peribadi anda lebih dari jangka masa yang diperlukan.

Dengan mengemukakan kepada kami maklumat peribadi anda, anda dengan ini bersetuju untuk membenarkan pemprosesan data peribadi anda selaras dengan semua perkara-perkara di atas. Kami akan mendapatkan kebenaran anda sebelum menggunakan data peribadi anda untuk tujuan selain daripada yang dinyatakan di atas.

Sekiranya terdapat ketidakseragaman antara versi Bahasa Inggeris dengan versi Bahasa Malaysia notis ini, maka versi Bahasa Inggeris notis ini akan digunapakai.

Notis Privasi ini boleh dipinda dari semasa ke semasa dan versi yang dikemaskini akan menggantikan semua versi terdahulu (termasuk salinan fizikal, jika ada). Anda digalakkan untuk menyemak laman web kami dari semasa ke semasa untuk Notis Privasi kami yang terkini.