cimb islamic dali equity theme fund … islamic dali equity theme fund unaudited financial...

CIMB ISLAMIC DALI EQUITY THEME FUND

UNAUDITED FINANCIAL STATEMENTS

FOR THE SIX MONTHS FINANCIAL PERIOD ENDED 31 MAY 2017


CONTENTS PAGE(S) INVESTORS' LETTER 1 MANAGER'S REPORT 2 - 9

Fund Objective and Policy

Performance Data Market Review

Fund Performance

Portfolio Structure

Market Outlook

Investment Strategy

Unit Holdings Statistics

Soft Commissions and Rebates

STATEMENT BY MANAGER 10 TRUSTEE’S REPORT 11 SHARIAH ADVISER'S REPORT 12 UNAUDITED STATEMENT OF COMPREHENSIVE INCOME 13 UNAUDITED STATEMENT OF FINANCIAL POSITION 14 - 15 UNAUDITED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE

TO UNIT HOLDERS 16 UNAUDITED STATEMENT OF CASH FLOWS 17 NOTES TO THE FINANCIAL STATEMENTS 18 - 42 DIRECTORY 43 LIST OF CWA (an Agency force of CIMB-Principal) OFFICES 44 - 48


1

INVESTORS' LETTER Dear Valued Investors, Thank you for your continued support and for the confidence that you have placed in us. We are pleased to share that CIMB-Principal Asset Management Berhad ("CIMB-Principal") Malaysia concluded the year with RM48 billion in Asset Under Management (“AUM”) and the CIMB-Principal’s Group AUM has increased by 7.6% to RM67.6 billion, for 1-year period ending 31 December 2016. Our AUM for Private Retirement Scheme ("PRS") business has increased by 27% year-on-year ("y-o-y") to RM343 million as at 31 December 2016. We continue to achieve prestigious recognitions from The Edge | Thomson Reuters Lipper Fund Awards: The Edge| Thomson Reuters Lipper Malaysia Fund Awards 2017

• Best Equity Global, 3 years & 5 years : CIMB-Principal Global Titans Fund

• Best Equity Asia Pacific Ex-Japan, 5 years : CIMB-Principal Asian Equity Fund

• Best Equity Asia Pacific Ex-Japan - Malaysia Islamic, 5 years : CIMB Islamic Asia Pacific Equity Fund

Thomson Reuters Lipper Fund Award Global Islamic 2016

• Best Equity Asia Pacific Ex-Japan (Islamic), 3 years : CIMB Islamic Asia Pacific Equity Fund

These awards reflect our consistent fund performance, in tandem with our commitment to provide the best customer experience to you. CIMB-Principal was also awarded Fund House of the Year in Malaysia by AsianInvestor for its Asset Management Awards 2017, its second consecutive win and The Employees' Provident Fund ("EPF") External Portfolio Managers Awards 2017 for the Best Global Bond Portfolio Manager. These industry recognitions reflect our success in scaling up our investment capabilities while building a solid track record and earning the trust of our clients over time. We are also happy to share with you that in line with CIMB Group’s policy to enhance customer experience, we have further expanded the payment options offered; CIMB-Principal has introduced the Virtual Account facility effective 7 December 2016. Please contact your servicing CWA Consultant or our Customer Care Centre at 03-77183000 to find out more. Thank you. Yours faithfully, for CIMB-Principal Asset Management Berhad

Munirah Khairuddin Chief Executive Officer/Executive Director


2

MANAGER’S REPORT FUND OBJECTIVE AND POLICY What is the investment objective of the Fund? The Fund aims to provide investors with medium to long-term capital appreciation through investments in securities of Malaysian companies that will benefit from prevailing investment themes and that conform with Shariah principles. Has the Fund achieved its objective? For the financial period under review, the Fund’s total return increased by 5.89% while the benchmark rose by 7.59%. Nevertheless, the Fund’s objective is still in place which is to provide capital growth over the long term. What are the Fund investment policy and principal investment strategy? The strategy of the Fund is to invest in sectors that are related to the prevailing domestic and/or global investment themes. At least 70% of the Fund’s Net Asset Value ("NAV") will be invested in equities listed on Bursa Malaysia that conform with Shariah principles and up to 28% of the Fund's NAV may be invested in other permissible investments. At least 2% of the Fund's NAV will be invested in Shariah-compliant liquid assets for liquidity purposes. Fund category/type Equity (Shariah-compliant)/Growth How long should you invest for? Recommended three (3) years or more Indication of short-term risk (low, moderate, high) High When was the Fund launched? Class MYR 28 February 2008 Class SGD 18 February 2016 What was the size of the Fund as at 31 May 2017? RM1,309.51 million (3,876.92 million units) What is the Fund’s benchmark? Financial Times Stock Exchange ("FTSE") Bursa Malaysia ("FBM") EMAS Shariah ("FBMS") Index Note: Investors should note that the risk profile of the Fund is not same as the risk profile of the benchmark.

What is the Fund distribution policy? Given the Fund's investment objective, the Fund is not expected to pay any distribution. All income earned by the Unit holders is proportionately reinvested within the Fund. Distributions, if any, will be incidental and vary from period to period depending on market conditions and performance of the Fund. What was the net income distribution for the six months financial period ended 31 May 2017? There was no distribution made for the six months financial period ended 31 May 2017.


3

PERFORMANCE DATA Details of portfolio composition of the Fund for the last three unaudited financial periods are as follows: 31.05.2017 31.05.2016 31.05.2015 % % % Shariah-compliant quoted securities - Construction 12.10 7.76 8.20 - Consumer Products 0.08 0.34 1.41 - Finance 2.68 0.04 3.43 - Industrials 9.79 18.22 12.18 - Infrastructure Project Companies ("IPC") 5.51 6.69 5.98 - Plantation 7.64 9.40 3.31 - Properties 4.25 0.76 0.48 - Real Estate Investment Trusts ("REITs") 0.53 1.10 1.57 - Technology 1.52 2.66 2.41 - Trading/Services 50.48 39.12 49.96 Cash and other net assets 5.42 13.91 11.07 100.00 100.00 100.00

Performance details of the Fund for the last three unaudited financial periods are as follows: 31.05.2017 31.05.2016 31.05.2015 NAV (RM Million) - Class MYR 1,309.50 1,382.01 1,506.36 - Class SGD 0.016 0.004 - Units in circulation (Million) - Class MYR 3,876.92 4,104.45 4,016.14 - Class SGD 0.005 0.001 - NAV per unit (RM) - Class MYR 0.3377 0.3367 0.3750 - Class SGD 2.9125 2.7757 - 01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016 01.12.2014

to 31.05.2015 Highest NAV per unit (RM) - Class MYR 0.3443 0.3654 0.3926 - Class SGD 2.9695 2.8901 - Lowest NAV per unit (RM) - Class MYR 0.3183 0.3324 0.3464 - Class SGD 2.7447 2.7390 - Total return (%) - Class MYR 5.89 (4.86) 0.13 - Class SGD 7.31 (7.23) - Capital growth (%) - Class MYR 5.89 (4.86) 0.13 - Class SGD 7.31 (7.23) - Income distribution (%) - Class MYR - - - - Class SGD - - - Management Expense Ratio ("MER") (%) ^ 0.72 0.83 0.81 Portfolio Turnover Ratio ("PTR") (times) # 0.44 0.21 0.29 ^ The Fund's MER decreased from 0.83% to 0.72% due to decrease in expenses during the financial

period.


4

PERFORMANCE DATA (CONTINUED) # The Fund's PTR increased from 0.21 times to 0.44 times as there was more trading activities for the

financial period under review due to the more buoyant market.

31.05.2017 31.05.2016 31.05.2015 31.05.2014 31.05.2013

% % % % %

Annual total return

- Class MYR 6.61 (5.77) 0.48 10.42 23.30

(Launch date: 28 February 2008)

31.05.2017

Since inception to 31.05.2016

% %

Annual total return

- Class SGD 1.61 (7.23)

(Launch date: 18 February 2016) Past performance is not necessarily indicative of future performance and that unit prices and investment returns may go down, as well as up. All performance figures for the financial period have been extracted from Lipper.

MARKET REVIEW (1 DECEMBER 2016 TO 31 MAY 2017) The FBMS Index rose by 902.83 points or 7.59% to 12,804.02 points over the financial period under review. The FBMS Index tumbled at 482.82 points or 3.9% in November 2016, jolted by the surprising Trump victory in the US Presidential Elections held on 8 November 2016. The Malaysian Ringgit ("MYR") weakened by 6% month-on-month (“m-o-m”) and 10-year Malaysian Government Securities ("MGS") yield spiked up to 4.35% (+75 basis points m-o-m), on rising fears of an eventual the US Federal Reserves (the "Fed") rate hike. All sectors were down m-o-m, with the exception of defensive healthcare. The third quarter of 2016 real Gross Domestic Products ("GDP") expanded by 4.3% y-o-y, driven by higher net exports. December 2016 was a good month as the FBMS Index rose by 1.0% m-o-m or 113.23 points to 12,014.42 points on the back of window dressing activities. During the month, Bank Negara Malaysia ("BNM") issued a supplementary notice on Foreign Exchange Rules, providing guidelines for onshore foreign exchange hedging and also on the retention and treatment of export proceeds. The FBM Kuala Lumpur Composite Index ("FBMKLCI") started 2017 in positive territory, rebounding by 1.8% in January 2017 as local funds deployed their excess cash to reposition for the new period. Corporate news on Government-Linked Companies (“GLCs”) reforms, particularly Permodalan Nasional Bhd ("PNB")-related companies, have increased optimism that the GLCs restructuring is gathering momentum. The gain extended into February and March 2017 with the Index rising by 1.31% and 3.42% respectively, led by inflows from foreign funds. GLCs restructuring remains a key theme as UMW Holdings Bhd and Sime Darby Bhd -led gainers for the consumer discretionary and industrial sectors. The local market remains well bid with bullish undertones led by foreign flows that remain very underweight on Malaysia. Foreign inflows continue to trend higher with net inflows amounting to RM5.7 billion for first quarter of 2017 and RM4.4 billion in March 2017 itself.


5

MARKET REVIEW (1 DECEMBER 2016 TO 31 MAY 2017) (CONTINUED) April 2017 ended on a strong note for Malaysia as the FBMS Index rose by 1.26% on the back of a stronger MYR, recovering corporate earnings prospects and foreign funds inflow. Buoyant regional markets and corporate exercise (proposed merger of I&P Group Sdn Bhd and SP Setia Bhd) also helped boost interest in the market. Energy outperformed on continued optimism about Saudi Aramco’s potential USD7 billion investment in Refinery and Petrochemical Integrated Development ("RAPID"). The financial sector outperformed, presumably on a reflation trade. The FBMS Index ended at 1.3% lower for the month of May 2017. The stronger-than-expected first quarter of 2017 GDP growth of 5.6% y-o-y in the first quarter of 2017 failed to lift market sentiment. Instead, the market was taken by surprise by the aborted Bandar Malaysia deal and the cancellation of the planned merger between UMW Oil & Gas Corporation Bhd with Orkim Sdn Bhd and Icon Offshore Bhd during the month. There was a flurry of corporate activities in May 2017, including the sale of a stake in Proton Holdings Bhd to Zhejiang Geely Holdings Group Co. Ltd and the potential merger between RHB Bank Bhd and AMMB Holdings Bhd. FUND PERFORMANCE Class MYR

6 months

to 31.05.2017

1 year

to 31.05.2017

3 years

to 31.05.2017

5 years

to 31.05.2017

Since inception

to 31.05.2017

% % % % %

Income - 6.23 18.84 27.27 27.27 Capital 5.89 0.20 (15.19) 7.82 49.37 Total Return 5.89 6.61 0.95 37.44 72.01 Benchmark 7.59 7.39 (2.53) 19.48 28.30 Average Total

Return

N/A 6.61 0.32 6.57 6.03 Class SGD

6 months

to 31.05.2017

1 year

to 31.05.2017

Since inception

to 31.05.2017 % % %

Income - - - Capital 7.31 1.61 (5.74) Total Return 7.31 1.61 (5.74) Benchmark 8.42 4.11 (4.45) Average Total

Return

N/A 1.61 (4.50) For the financial period under review, the Class MYR and Class SGD rose by 5.89% and 7.31%, but underperformed the benchmark by 1.70% and 1.11% respectively.


6

FUND PERFORMANCE (CONTINUED) CLASS MYR

CLASS SGD

-10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Class MYR

FBMS Index

-13%

-11%

-9%

-7%

-5%

-3%

-1%

1%

Class SGD

FBMS Index


7

FUND PERFORMANCE (CONTINUED) Changes in NAV Class MYR 31.05.2017 31.05.2016 Changes

%

NAV (RM Million) 1,309.50 1,382.01 (5.25)

NAV/Unit (RM) 0.3377 0.3367 0.30

Class SGD

%

NAV (RM Million) 0.016 0.004 >100.00

NAV/Unit (RM) 2.9125 2.7757 4.93 NAV of the Class MYR declined by 5.25% for the financial period due to unit redemptions while NAV per unit rose by 0.30% due to positive investment performance. NAV of the Class SGD increased by more than 100% for the financial period due to unit creations while NAV per unit rose by 4.93% due to positive investment performance and a stronger MYR vis-à-vis the Singapore Dollar ("SGD"). Performance data represents the combined income and capital return as a result of holding units in the Fund for the specified length of time, based on NAV to NAV price. The performance data assumes that all earnings from the Fund are reinvested and are net of management and trustee fees. Past performance is not reflective of future performance and income distributions are not guaranteed. Unit prices and income distributions, if any, may fall and rise. All performance figures for the financial period have been extracted from Lipper.

PORTFOLIO STRUCTURE Asset allocation

(% of NAV) 31.05.2017 31.05.2016

Shariah-compliant quoted securities 94.58 86.09

Cash and other net assets 5.42 13.91

TOTAL 100.00 100.00 Asset allocation was raised from 86.09% as at 31 May 2016 to 94.58% as at 31 May 2017 due to the global economic rebound, the expected fiscal push from the new administration in the US, the accommodative monetary stance of central banks around the world as well as China’s focus on growth stabilisation and economic rebalancing via fiscal and monetary support. MARKET OUTLOOK* While the Malaysian equity market has rallied quite substantially so far this period, we remain positive on the outlook. We expect the synchronised global growth to remain intact. The US, Europe and China economies are recovering after many periods of sub-par growth. At the same time, we expect the general inflation outlook to remain benign. This scenario will support an accommodative monetary policy by the Central Banks. Finally, we are also seeing a positive change in the earnings estimates of companies in Malaysia. Real GDP grew by 5.6% y-o-y in the first quarter of 2017, the highest pace for the past 2 periods. This was achieved on the back of an increase in private consumption (+6.6% y-o-y) and investment (+10.0% y-o-y). The pick-up in private investments, particularly in machinery and equipment, hints at the broadening of positive spillovers from the manufacturing sector.


8

MARKET OUTLOOK* (CONTINUED) The FBMS Index started the month of June 2017 higher by 1.6% within the first two weeks, but gave back gains in the second half of the month before the market closed for the Hari Raya holidays. For the month of June 2017, the FBMS Index rose marginally by 0.1% to 12,822.15 points. Brent crude oil price closed at 4.75% lower, leading to underperformance in the energy/materials sector (led by Sapura Energy Bhd and Petronas Chemicals Group Bhd). Telecommunications underperformed, led by Maxis Bhd on its proposed private placement. Consumer discretionary underperformed, led by the Genting group of companies. Defensive healthcare outperformed, led by gloves on declining latex prices. Financials continued to outperform on the back of the reflation trade. The local market undertones continue to be bullish despite a more cautious note heading into June 2017. Foreign net buying continued in June 2017, with cumulative 6 months of 2017 net inflows of RM10.6 billion (RM0.3 billion in June 2016). The first quarter of 2017 earnings have largely just concluded with a 12% positive y-o-y growth. If this trend continues till the period end, 2017 will mark the first period of positive earnings growth after 2 periods of negative earnings growth. We continue to be bullish and believe that a combination of earnings upgrades, positive foreign inflows and stronger MYR will support the market. We maintain our FBMKLCI period-end target of 1,820 points to 1,850 points which is pegged at 17.2 to17.5 times target Price-to-Earnings ("PE") ratio. *This market outlook does not constitute an offer, invitation, commitment, advice or recommendation to make a purchase of any investment. The information given in this article represents the views of CIMB-Principal or based on data obtained from sources believed to be reliable by CIMB-Principal. Whilst every care has been taken in preparing this, CIMB-Principal makes no guarantee, representation or warranty and is under no circumstances liable for any loss or damage caused by reliance on, any opinion, advice or statement made in this market outlook.

INVESTMENT STRATEGY We maintain our asset allocation at 90% to 95% with a bias towards the upper band. We continue to prefer cyclicals over defensives, exporters, large-cap beneficiaries of foreign equity participation and high-growth mid-cap stocks. GLCs restructuring and E-Commerce companies remain core holdings in the Fund. UNIT HOLDINGS STATISTICS Breakdown of unit holdings by size as at 31 May 2017 are as follows: CLASS MYR Size of unit holdings (units) No. of unit holders No. of units held

(million) % of units held

5,000 and below 6,920 23.72 0.61

5,001-10,000 10,793 80.12 2.07

10,001-50,000 33,195 810.49 20.91

50,001-500,000 16,468 1,963.30 50.64

500,001 and above 432 999.29 25.77

Total 67,808 3,876.92 100.00


9

UNIT HOLDINGS STATISTICS (CONTINUED) CLASS SGD Size of unit holdings (units) No. of unit holders No. of units held

(million) % of units held

5,000 and below 2 0.005 100.00

5,001-10,000 - - -

10,001-50,000 - - -

50,001-500,000 - - -

500,001 and above - - -

Total 2 0.005 100.00 SOFT COMMISSIONS AND REBATES CIMB-Principal Asset Management Berhad (the “Manager”) and the Trustee (including their officers) will not retain any form of rebate or soft commission from, or otherwise share in any commission with, any broker in consideration for directing dealings in the investments of the Funds unless the soft commission received is retained in the form of goods and services such as financial wire services and stock quotations system incidental to investment management of the Funds. All dealings with brokers are executed on best available terms. During the financial period under review, the Manager and the Trustee did not receive any rebates from the brokers or dealers but have retained soft commission in the form of goods and services such as financial wire services and stock quotations system incidental to investment management of the Funds.


10

STATEMENT BY MANAGER TO THE UNIT HOLDERS OF CIMB ISLAMIC DALI EQUITY THEME FUND We, being the Directors of CIMB-Principal Asset Management Berhad (the “Manager”), do hereby state that, in the opinion of the Manager, the accompanying audited financial statements set out on pages 13 to 42 are drawn up in accordance with the provisions of the Deeds and give a true and fair view of the financial position of the Fund as at 31 May 2017 and of its financial performance, changes in net assets attributable to unit holders and cash flows for the financial period then ended in accordance with Malaysian Financial Reporting Standards ("MFRS") 134 - Interim Financial Reporting and International Accounting Standards ("IAS") 34 - Interim Financial Reporting. For and on behalf of the Manager CIMB-Principal Asset Management Berhad (Company No.: 304078-K) MUNIRAH KHAIRUDDIN ALEJANDRO ECHEGORRI Chief Executive Officer/Executive Director Executive Director

Kuala Lumpur 31 July 2017


11

TRUSTEE’S REPORT TO THE UNIT HOLDERS OF CIMB ISLAMIC DALI EQUITY THEME FUND We have acted as Trustee of CIMB Islamic DALI Equity Theme Fund (the “Fund”) for the financial period ended 31 May 2017. To the best of our knowledge, CIMB-Principal Asset Management Berhad (the “Manager”), has operated and managed the Fund in accordance with the following: a) limitations imposed on the investment powers of the Manager and the Trustee under the Deeds,

the Securities Commission’s Guidelines on Unit Trust Funds, the Capital Markets and Services Act 2007 and other applicable laws;

b) valuation/pricing is carried out in accordance with the Deeds and any regulatory requirements; and

c) creation and cancellation of units are carried out in accordance with the Deeds and any regulatory

requirements. For HSBC (Malaysia) Trustee Berhad TAN BEE NIE Head, Trustee Operations Kuala Lumpur 31 July 2017


12

SHARIAH ADVISER’S REPORT TO THE UNIT HOLDERS OF CIMB ISLAMIC DALI EQUITY THEME FUND We have acted as the Shariah Adviser of CIMB Islamic DALI Equity Theme Fund (the "Fund") for the financial period ended 31 May 2017. Our responsibility is to ensure that the procedures and processes employed by CIMB-Principal Asset Management Berhad (the "Manager") are in accordance with Shariah and Shariah Investment Guidelines. In our opinion, the Manager has managed and administered the Fund in accordance with the Shariah Investment Guidelines of the Fund and complied with applicable guidelines, rulings or decisions issued by the Securities Commission Malaysia pertaining to Shariah matters for the six monthsfinancial period ended 31 May 2017 with the exception Hume Industries Bhd. However, the said security was fully disposed on 15 February 2017. In addition, we also confirm that the investment portfolio of the Fund comprises securities which have been classified as Shariah-compliant by the Shariah Advisory Council of the Securities Commission Malaysia ("SACSC") and where applicable, the Shariah Advisory Council of Bank Negara Malaysia. For investment other than the abovementioned, we have reviewed the same and of the opinion that these investments were in accordance with the rulings of the Shariah Adviser and Shariah Investment Guidelines of the Fund. This report is made solely to the unit holders of the Fund, as a body, and for no other purpose. We do not assume responsibility to any other person for the content of this report and we shall not be liable for any errors or non-disclosure on the part of the Manager. For and on-behalf of Shariah Adviser CIMB Islamic Bank Berhad ASHRAF GOMMA ALI Regional Head, Shariah & Governance/Designated Person Responsible for Shariah Advisory Kuala Lumpur 31 July 2017


13

UNAUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS FINANCIAL PERIOD ENDED 31 MAY 2017

Note 01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016

RM RM

INVESTMENT INCOME

Dividend income 17,544,311 16,628,290 Profit income from Shariah-compliant deposits with licensed Islamic financial institutions 2,039,042 3,134,458 Net gain/(loss) on financial assets at fair value

through profit or loss 7 72,591,404 (76,576,938)

Net foreign exchange (loss)/gain (233) 140

92,174,524 (56,814,050)

EXPENSES

Management fee 4 10,141,051 10,733,348

Trustee’s fee 5 338,035 357,778

Audit fee 9,880 14,000

Tax agent’s fee 4,433 4,000

Transaction costs 2,893,732 1,572,386

Other expenses 900,013 899,090

14,287,144 13,580,602

PROFIT/(LOSS) BEFORE TAXATION 77,887,380 (70,394,652)

Taxation 6 (5,727) (38,959)

INCREASE/(DECREASE) IN NET ASSETS

ATTRIBUTABLE TO UNIT HOLDERS 77,881,653 (70,433,611)

Profit/(Loss) after taxation is made up as follows:

Realised amount 2,357,620 41,787,040

Unrealised amount 75,524,033 (112,220,651)

77,881,653 (70,433,611)

The accompanying notes to the financial statements form an integral part of the unaudited financial statements.


14

UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2017

31.05.2017 30.11.2016

Audited

Note RM RM

ASSETS

Cash and cash equivalents (Shariah-compliant) 8 51,356,144 161,540,329 Financial assets at fair value through profit or loss (Shariah-compliant) 7 1,238,200,191 1,183,508,092

Amount due from stockbrokers 28,978,646 11,061,622

Amount due from Manager 826,414 935,976

Dividends receivable 973,199 1,582,895

Tax recoverable 91,805 91,805

TOTAL ASSETS 1,320,426,399 1,358,720,719

LIABILITIES

Amount due to stockbrokers 4,539,913 4,145,560

Amount due to Manager 4,424,232 2,465,424

Accrued management fee 1,709,612 1,688,421

Amount due to Trustee 56,987 56,281

Other payables and accruals 181,894 237,866 TOTAL LIABILITIES (EXCLUDING NET ASSETS

ATTRIBUTABLE TO UNIT HOLDERS) 10,912,638 8,593,552

NET ASSET VALUE OF THE FUND 1,309,513,761 1,350,127,167

NET ASSETS ATTRIBUTABLE TO

UNIT HOLDERS 1,309,513,761 1,350,127,167



15

UNAUDITED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MAY 2017 (CONTINUED)

31.05.2017 30.11.2016

Audited

Note RM RM

REPRESENTED BY:

FAIR VALUE OF OUTSTANDING UNITS (RM)

- Class MYR 1,309,497,882 1,350,124,252

- Class SGD 15,879 2,915

1,309,513,761 1,350,127,167

NUMBER OF UNITS IN CIRCULATION (UNITS)

- Class MYR 3,876,918,569 4,231,097,876

- Class SGD 5,452 1,060

9 3,876,924,021 4,231,098,936

NET ASSET VALUE PER UNIT (RM)

- Class MYR 0.3377 0.3190

- Class SGD 2.9125 2.7500

NET ASSET VALUE PER UNIT IN RESPECTIVE

CURRENCIES

- Class MYR MYR 0.3377 MYR 0.3190

- Class SGD SGD 0.9422 SGD 0.8775



16

UNAUDITED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNIT HOLDERS FOR THE SIX MONTHS FINANCIAL PERIOD ENDED 31 MAY 2017

31.05.2017 31.05.2016

RM RM

NET ASSETS ATTRIBUTABLE TO UNIT HOLDERS AT

THE BEGINNING OF THE FINANCIAL PERIOD 1,350,127,167

1,461,785,213 Movement due to units created and cancelled during the

financial period:

- Creation of units from applications

- Class MYR 35,943,004 69,756,890

- Class SGD 12,559 4,022

- Cancellation of units

- Class MYR (154,450,622) (79,095,375)

1,231,632,108 1,452,450,750

Increase/(decrease) in net assets attributable to unit holders during the financial period

Profit/(Loss) after taxation 77,881,653 (70,433,611)

NET ASSETS ATTRIBUTABLE TO UNIT HOLDERS AT THE END OF THE FINANCIAL PERIOD 1,309,513,761

1,382,017,139



17

UNAUDITED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS FINANCIAL PERIOD ENDED 31 MAY 2017

01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016

RM RM

CASH FLOWS FROM OPERATING ACTIVITIES Proceeds from disposal of Shariah-compliant quoted securities 581,196,564 348,278,283

Purchases of Shariah-compliant quoted securities (583,713,662) (292,337,568)

Dividend income received 18,148,280 17,165,633 Profit income received from Shariah-compliant deposits with licensed Islamic financial institutions 2,039,042 3,134,458

Management fee paid (10,119,860) (10,802,745)

Trustee’s fee paid (337,329) (360,092)

Payments for other fees and expenses (970,298) (911,728)

Tax paid - (38,959)

Net cash generated from operating activities 6,242,737 64,127,282

CASH FLOWS FROM FINANCING ACTIVITIES

Cash proceeds from units created 36,065,125 70,138,214

Payments for cancellation of units (152,491,814) (80,305,181)

Net cash used in financing activities (116,426,689) (10,166,967)

Net (decrease)/increase in cash and cash equivalents (110,183,952) 53,960,315

Effects of foreign exchange differences (233) 169 Cash and cash equivalents at the beginning of the financial period 161,540,329 152,423,899 Cash and cash equivalents at the end of the financial period 51,356,144 206,384,383

Cash and cash equivalents comprised of:

Shariah-compliant deposits with licensed financial institutions 49,284,481 205,565,682

Bank balances 2,071,663 818,701

Cash and cash equivalents at the end of the financial period 51,356,144 206,384,383



18

NOTES TO THE FINANCIAL STATEMENTS FOR THE SIX MONTHS FINANCIAL PERIOD ENDED 31 MAY 2017 1. THE FUND, THE MANAGER AND ITS PRINCIPAL ACTIVITY

CIMB Islamic DALI Equity Theme Fund (the “Fund”) is governed by a Principal Master Deed dated 15 May 2008, a Third Supplemental Master Deed dated 25 June 2008, a Sixth Supplemental Master Deed dated 14 July 2008, a Seventh Supplemental Master Deed dated 19 November 2008, a Fifteenth Supplemental Master Deed dated 21 September 2012, a Seventeenth Supplemental Master Deed dated 25 March 2015 all executed between the Management Company and the AmTrustee Berhad (hereinafter known as the "Previous Trustee"), and a Principal Master Deed dated 10 April 2015 (collectively referred to as the “Deeds”), between CIMB-Principal Asset Management Berhad (the “Manager”) and HSBC (Malaysia) Trustee Berhad (the “Trustee”). The strategy of the Fund is to invest in sectors that are related to the prevailing domestic and/or global investment themes. At least 70% of the Fund’s NAV will be invested in equities listed on Bursa Malaysia that conform with Shariah principles and up to 28% of the Fund’s NAV may be invested in other permissible investments. At least 2% of the Fund’s NAV will be invested in Shariah-compliant liquid assets for liquidity purposes. All investments are subjected to the Securities Commission Malaysia (“SC”) Guidelines on Unit Trust Funds, SC requirements, the Deeds, except where exemptions or variations have been approved by the SC, internal policies and procedures and the Fund’s objective. The Manager, a company incorporated in Malaysia, is a subsidiary of CIMB Group Sdn Bhd and regards CIMB Group Holdings Berhad as its ultimate holding company. The Manager is also an associate of Principal International (Asia) Limited, which is a subsidiary of Principal Financial Group Inc. The principal activities of the Manager are the establishment and management of unit trust funds and fund management activities.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements: (a) Basis of preparation

The financial statements have been prepared in accordance with the provisions of the MFRS and International Financial Reporting Standards (“IFRS”). The financial statements have been prepared under the historical cost convention, as modified by financial assets at fair value through profit or loss. The preparation of financial statements in conformity with MFRS and IFRS requires the use of certain critical accounting estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported period. It also requires the Manager to exercise their judgment in the process of applying the Fund’s accounting policies. Although these estimates and assumptions are based on the Manager’s best knowledge of current events and actions, actual results may differ.


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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(a) Basis of preparation (continued) The areas involving a higher degree of judgment or complexity, or areas where estimates and assumptions are significant to the financial statements are disclosed in Note 2(l). Standards, amendments to published standards and interpretations to existing standards that are effective: The Fund has applied the following amendments for the first time for the financial year beginning 1 December 2016: • Amendments to MFRS 101 “Presentation of Financial Statements - Disclosure

Initiative” provide clarifications on a number of issues, including: Materiality - an entity should not aggregate or disaggregate information in a manner that obscures useful information. Where items are material, sufficient information must be provided to explain the impact on the financial position or performance. Disaggregation and subtotals - line items specified in MFRS 101 may need to be disaggregated where this is relevant to an understanding of the entity’s financial position or performance. There is also new guidance on the use of subtotals.

Notes - confirmation that the notes do not need to be presented in a particular order.

Other comprehensive income (“OCI”) arising from investments accounted for under the equity method - the share of OCI arising from equity-accounted investments is grouped based on whether the items will or will not subsequently be reclassified to profit or loss. Each group should then be presented as a single line item in the statement of other comprehensive income.

According to the transitional provisions, the disclosures in MFRS 108 regarding the adoption of new standards/accounting policies are not required for these amendments.

• Annual Improvements to MFRSs 2012 – 2014 Cycle

The adoption of these amendments did not have any impact on the current financial period or any prior period and is not likely to affect future periods.

The standards, amendments to published standards and interpretations to existing standards that are applicable to the Fund but not yet effective and have not been early adopted are as follows:

(i) Financial year beginning on/after 1 December 2017

• Amendments to MFRS 107 ‘‘Statement of Cash Flows – Disclosure Initiative’’ (effective from 1 January 2017) introduce an additional disclosure on changes in liabilities arising from financing activities.

The Fund will apply this standard when effective. This standard is not expected to have a significant impact on the Fund’s financial statements


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(a) Basis of preparation (continued)

(ii) Financial year beginning on/after 1 December 2018 • MFRS 15 “Revenue from Contracts with Customers” (effective from 1

January 2018) replaces MFRS 118 ‘’Revenue’’ and MFRS 111 ‘‘Construction Contracts’’ and related interpretations. The core principle in MFRS 15 is that an entity recognises revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

Revenue is recognised when a customer obtains control of goods or services, i.e. when the customer has the ability to direct the use of and obtain the benefits from the goods or services.

A new five-step process is applied before revenue can be recognised: • Identify contracts with customers; • Identify the separate performance obligations; • Determine the transaction price of the contract; • Allocate the transaction price to each of the separate performance

obligations; and • Recognise the revenue as each performance obligation is satisfied.

Key provisions of the new standard are as follows: • Any bundled goods or services that are distinct must be separately

recognised, and any discounts or rebates on the contract price must generally be allocated to the separate elements.

• If the consideration varies (such as for incentives, rebates, performance fees, royalties, success of an outcome etc), minimum amounts of revenue must be recognised if they are not at significant risk of reversal.

• The point at which revenue is able to be recognised may shift: some revenue which is currently recognised at a point in time at the end of a contract may have to be recognised over the contract term and vice versa.

• There are new specific rules on licenses, warranties, non-refundable upfront fees, and consignment arrangements, to name a few.

• As with any new standard, there are also increased disclosures.


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(a) Basis of preparation (continued)

(ii) Financial year beginning on/after 1 December 2018 (continued)

• MFRS 9 “Financial Instruments” (effective from 1 January 2018) will replace MFRS 139 “Financial Instruments: Recognition and Measurement”. MFRS 9 retains but simplifies the mixed measurement model in MFRS 139 and establishes three primary measurement categories for financial assets: amortised cost, fair value through profit or loss and fair value through OCI. The basis of classification depends on the entity's business model and the contractual cash flow characteristics of the financial asset. Investments in equity instruments1 are always measured at fair value through profit or loss with an irrevocable option at inception to present changes in fair value in OCI (provided the instrument is not held for trading). A debt instrument2 is measured at amortised cost only if the entity is holding it to collect contractual cash flows and the cash flows represent principal and interest3. For liabilities, the standard retains most of the MFRS 139 requirements. These include amortised cost accounting for most financial liabilities, with bifurcation of embedded derivatives1. The main change is that, in cases where the fair value option is taken for financial liabilities, the part of a fair value change due to an entity’s own credit risk is recorded in OCI rather than the income statement, unless this creates an accounting mismatch. MFRS 9 introduces an expected credit loss model on impairment that replaces the incurred loss impairment model used in MFRS 139. The expected credit loss model is forward-looking and eliminates the need for a trigger event to have occurred before credit losses are recognised.

The Fund will apply these standards when effective. These standards are not expected to have a significant impact on the Fund’s financial statements.

(b) Financial assets and financial liabilities

Classification The Fund designates its investments in Shariah-compliant quoted securities as financial assets at fair value through profit or loss at inception. Financial assets are designated at fair value through profit or loss when they are managed and their performance evaluated on a fair value basis. Financing and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and have been included in current assets. The Fund’s financing and receivables comprise cash and cash equivalents, amount due from stockbrokers, amount due from Manager and dividends receivable.

¹ For the purposes of the investments made by the Fund, equity instruments and derivatives refers to Shariah-compliant equity instruments and Shariah-compliant derivatives.

² For the purposes of the investments made by the Fund, debt instruments refers to Sukuk. ³ For the purposes of this Fund, interest refers to profits earned from Shariah-compliant investments.


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(b) Financial assets and financial liabilities (continued)

Classification (continued) Financial liabilities are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability. The Fund classifies amount due to stockbrokers, amount due to Manager, accrued management fee, amount due to Trustee, and other payables and accruals as other financial liabilities. Recognition and measurement Regular purchases and sales of financial assets are recognised on the trade-date, the date on which the Fund commits to purchase or sell the asset. Shariah-compliant investments are initially recognised at fair value. Transaction costs are expensed in the statement of comprehensive income. Financial liabilities, within the scope of MFRS 139, are recognised in the statement of financial position when, and only when, the Fund becomes a party to the contractual provisions of the financial instrument. Financial assets are derecognised when the rights to receive cash flows from the Shariah-compliant investments have expired or have been transferred and the Fund has transferred substantially all risks and rewards of ownership. Financial liabilities are derecognised when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expired. Unrealised gains or losses arising from changes in the fair value of the financial assets at fair value through profit or loss are presented in the statement of comprehensive income within net gain or loss on financial assets at fair value through profit or loss in the financial period which they arise. Dividend income from financial assets at fair value through profit or loss is recognised in the statement of comprehensive income as part of gross dividend income when the Fund’s right to receive payments is established. Shariah-compliant quoted securities in Malaysia are valued at the last done market price quoted on Bursa Malaysia Securities Berhad (“Bursa Securities”) at the date of the statement of financial position. If a valuation based on the market price does not represent the fair value of the Shariah-compliant quoted securities, for example during abnormal market conditions or when no market price is available, including in the event of a suspension in the quotation of the Shariah-compliant quoted securities for a period exceeding 14 days, or such shorter period as agreed by the Trustee, then the Shariah-compliant quoted securities are valued as determined in good faith by the Manager, based on the methods or basis approved by the Trustee after appropriate technical consultation. Shariah-compliant deposits with licensed Islamic financial institutions are stated at cost plus accrued profit calculated on the effective profit method over the period from the date of placement to the date of maturity of the respective deposits. Financing and receivables and other financial liabilities are subsequently carried at amortised cost using the effective profit method.


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(b) Financial assets and financial liabilities (continued)

Impairment for assets carried at amortised costs For assets carried at amortised cost, the Fund assesses at the end of the reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. The amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset’s original effective profit rate. The asset’s carrying amount is reduced and the amount of the loss is recognised in statement of comprehensive income. If ‘financing and receivables’ has a variable profit rate, the discount rate for measuring any impairment loss is the current effective profit rate determined under the contract. As a practical expedient, the Fund may measure impairment on the basis of an instrument’s fair value using an observable market price. If, in a subsequent financial period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised (such as an improvement in the debtor’s credit rating), the reversal of the previously recognised impairment loss is recognised in statement of comprehensive income. When an asset is uncollectible, it is written off against the related allowance account. Such assets are written off after all the necessary procedures have been completed and the amount of the loss has been determined.

(c) Income recognition Dividend income is recognised on the ex-dividend date when the right to receive payment is established. Profit income from Shariah-compliant deposits with licensed Islamic financial institutions is recognised on a time proportionate basis using the effective profit method on an accrual basis. Realised gain or loss on disposal of Shariah-compliant quoted securities is accounted for as the difference between the net disposal proceeds and the carrying amount of Shariah-compliant quoted securities, determined on a weighted average cost basis.

(d) Foreign Currency Functional and presentation currency

Items included in the financial statements of the Fund are measured using the currency of the primary economic environment in which the Fund operates (the “functional currency”). The financial statements are presented in Ringgit Malaysia (“RM”), which is the Fund’s functional and presentation currency.


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(d) Foreign currency (continued)

Transactions and balances

Foreign currency transactions are translated into the functional currency using the

exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in statement of comprehensive income.

(e) Creation and cancellation of units

The unit holders’ contributions to the Fund meet the definition of puttable instruments

classified as financial liability under MFRS 132 “Financial Instruments: Presentation”. The Fund issues cancellable units, in two classes of units, known as the Class MYR

and Class SGD, which are cancelled at the unit holder’s option and do not have identical features subject to restrictions as stipulated in the Prospectus and SC’s Guidelines on Unit Trust Funds. The units are classified as financial liabilities. Cancellable units can be put back to the Fund at any time for cash equal to a proportionate share of the Fund’s NAV of respective classes. The outstanding units are carried at the redemption amount that is payable at the date of the statement of financial position if the member exercises the right to put back the unit to the Fund.

Units are created and cancelled at the unit holders’ option at prices based on the

Fund’s NAV per unit of respective classes at the close of business on the relevant dealing day. The Fund’s NAV per unit of respective classes is calculated by dividing the net assets attributable to members of respective classes with the total number of outstanding units of respective classes.

(f) Cash and cash equivalents For the purpose of statement of cash flows, cash and cash equivalents comprise bank balances and Shariah-compliant deposits held in highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(g) Taxation Current tax expense is determined according to Malaysian tax laws at the current rate based upon the taxable profit earned during the financial period.

(h) Transaction costs Transaction costs are costs incurred to acquire or dispose financial assets or liabilities at fair value through profit or loss. They include fees and commissions paid to agents, advisers, brokers and dealers. Transaction costs, when incurred, are immediately recognised in the statement of comprehensive income as expenses.

(i) Increase/Decrease in net asset attributable to unit holders

Income not distributed is included in net asset attributable to unit holders.


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(j) Amount due from/to stockbrokers

Amounts due from/to stockbrokers represent receivables for Shariah-compliant quoted securities sold and payables for Shariah-compliant quoted securities purchased that have been contracted for but not yet settled or delivered on the statement of financial position date respectively. These amounts are recognised initially at fair value and subsequently measured at amortised cost using the effective profit method, less provision for impairment for amount due from stockbrokers. A provision for impairment of amount due from stockbrokers is established when there is objective evidence that the Fund will not be able to collect all amounts due from the relevant stockbroker.

Significant financial difficulties of the stockbroker, probability that the stockbroker will enter bankruptcy or financial reorganisation, and default in payments are considered indicators that the amount due from stockbrokers is impaired. Once a financial asset or a group of similar financial assets has been written down as a result of an impairment loss, profit income is recognised using the rate of profit used to discount the future cash flows for the purpose of measuring the impairment loss.

(k) Segment information

Operating segments are reported in a manner consistent with the internal reporting used by the chief operating decision-maker. The chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments.

(l) Critical accounting estimates and judgments in applying accounting policies

The Fund makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, rarely equal the related actual results. To enhance the information content of the estimates, certain key variables that are anticipated to have material impact to the Fund’s results and financial position are tested for sensitivity to changes in the underlying parameters.

Estimates and judgments are continually evaluated by the Manager and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In undertaking any of the Fund’s Shariah-compliant investment, the Manager will ensure that all assets of the Fund under management will be valued appropriately, that is at fair value and in compliance with the SC Guidelines on Unit Trust Funds. Functional currency Due to mixed factors in determining the functional currency of the Fund, the Manager has used its judgement to determine the functional currency that most faithfully represents the economic effects of the underlying transactions, events and conditions and have determined the functional currency to be in MYR primarily due to the following factors: i) Significant portion of the NAV is invested in the form of cash denominated in

MYR for the purpose of making settlement of the foreign trades. ii) Significant portion of the Fund’s expenses are denominated in MYR.


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3. RISK MANAGEMENT OBJECTIVES AND POLICIES

The Fund aims to provide investors with medium to long-term capital appreciation through investments in securities of Malaysian companies that will benefit from prevailing investment themes and that conform to Shariah principles. The Fund is exposed to a variety of risks which include market risk (inclusive of price risk, currency risk and interest rate risk), credit risk and liquidity risk. Financial risk management is carried out through internal control process adopted by the Manager and adherence to the investment restrictions as stipulated in the Deeds and SC Guidelines on Unit Trust Funds.

(a) Market risk

(i) Price risk This is the risk that the fair value of an investment in Shariah-compliant quoted securities will fluctuate because of changes in market prices (other than those arising from interest rate risk). The value of Shariah-compliant quoted securities may fluctuate according to the activities of individual companies, sector and overall political and economic conditions. Such fluctuation may cause the Fund’s NAV and prices of units to fall as well as rise, and income produced by the Fund may also fluctuate. The price risk is managed through diversification and selection of Shariah-compliant quoted securities and other financial instruments within specified limits according to the Deeds.

(ii) Currency risk

Currency risk is associated with Shariah-compliant investments that are quoted and/or priced in foreign currency denomination. Foreign currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. The Manager will evaluate the likely directions of a foreign currency versus RM based on considerations of economic fundamentals such as interest rate differentials, balance of payments position, debt levels, and technical chart considerations.

(iii) Interest rate risk

Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. Interest rate is a general economic indicator that will have an impact on the management of the Fund. It does not in any way suggest that this Fund will invest in conventional financial instruments. All investment carried out for the Fund including placements and deposits are in accordance with Shariah. The Fund’s exposure to fair value interest rate risk arises from Shariah-compliant investment in money market instruments. The interest rate risk is expected to be minimal as the Fund’s investments comprise mainly Shariah-compliant short term deposits with approved licensed Islamic financial institutions. As at the end of each financial period, the Fund is not exposed to a material level of interest rate risk.


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3. RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

(a) Market risk (continued)

(iii) Interest rate risk (continued) The Fund is not exposed to cash flow interest rate risk as the Fund does not hold any financial instruments at variable interest rate.

(b) Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligation resulting in financial loss to the Fund. The credit risk arising from placements of Shariah-compliant deposits in licensed Islamic financial institutions is managed by ensuring that the Fund will only place Shariah-compliant deposits in reputable licensed Islamic financial institutions. For amount due from Manager, the settlement terms of the proceeds from the creation of units’ receivable from the Manager are governed by the SC Guidelines on Unit Trust Funds.

For amount due from stockbrokers, the settlement terms are governed by the relevant rules and regulations as prescribed by respective stock exchange. The credit risk is minimal as all transactions in Shariah-compliant quoted securities are settled/paid upon delivery using approved stockbrokers.

(c) Liquidity risk

Liquidity risk is the risk that the Fund will encounter difficulty in meeting its financial obligations. The Manager manages this risk by maintaining sufficient level of liquid assets to meet anticipated payments and cancellations of the units by unit holders. Liquid assets comprise bank balances and Shariah-compliant deposits with licensed Islamic financial institutions, which are capable of being converted into cash within 7 business days. This is expected to reduce the risks for the entire portfolio without limiting the Fund’s growth potentials.

(d) Capital risk management The capital of the fund is represented by net assets attributable to unit holders. The

amount of capital can change significantly on a daily basis as the Fund is subject to daily subscriptions and redemptions at the discretion of unit holders. The Fund’s objective when managing capital is to safeguard the Fund’s ability to continue as a going concern in order to provide returns to unit holders and benefits for other stakeholders and to maintain a strong capital base to support the development of the investment activities of the Fund.


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(e) Fair value estimation Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. an exit price). The fair value of financial assets traded in active markets (such as trading securities) is based on quoted market prices at the close of trading on the financial period end date. The Fund utilises the last traded market price for financial assets where the last traded market price falls within the bid-ask spread. In circumstances where the last traded market price is not within the bid-ask spread, the Manager will determine the point within the bid-ask spread that is most representative of the fair value. An active market is a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The fair value of financial assets that are not traded in an active market is determined by using valuation techniques. (i) Fair value hierarchy

The table below analyses financial instruments carried at fair value. The different levels have been defined as follows:

• Quoted prices (unadjusted) in active market for identical assets or liabilities (Level 1)

• Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2)

• Inputs for the asset and liability that are not based on observable market data (that is, unobservable inputs) (Level 3)

The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a Level 3 measurement. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. The determination of what constitutes ‘observable’ requires significant judgment by the Fund. The Fund considers observable data to be that market data that is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.


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(e) Fair value estimation (continued)

(i) Fair value hierarchy (continued)

Level 1 Level 2 Level 3 Total

RM RM RM RM

31.05.2017 Financial assets at fair value through profit or loss:

- Shariah- compliant quoted securities 1,238,200,191

-

-

1,238,200,191

30.11.2016

Audited Financial assets at fair value through profit or loss:

- Shariah- compliant quoted securities 1,183,508,092

-

-

1,183,508,092

Shariah-compliant investments which values are based on quoted market prices in active markets, and are therefore classified within Level 1, include active listed equities. The Fund does not adjust the quoted prices for these instruments. The Fund’s policies on valuation of these financial assets are stated in Note 2(b).

(ii) The carrying values of cash and cash equivalents, amount due from stockbrokers, amount due from Manager, dividends receivable and all current liabilities are a reasonable approximation of their fair values due to their short term nature.

4. MANAGEMENT FEE In accordance with the Deeds, the Manager is entitled to a maximum management fee of 3.00% per annum, calculated daily based on the NAV of the Fund. For the six months financial period ended 31 May 2017, the management fee is recognised at a rate of 1.50% per annum (31.05.2016: 1.50% per annum). There will be no further liability to the Manager in respect of management fee other than the amount recognised above.


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5. TRUSTEE’S FEE

In accordance with the Deeds, the Trustee is entitled to a maximum fee of 0.07% per annum calculated daily based on the NAV of the Fund. The Trustee's fee includes local/custodian fee but excludes foreign sub-custodian fees and charges. For the six months financial period ended 31 May 2017, the Trustee’s fee is recognised at a rate of 0.05% per annum (31.05.2016: 0.05% per annum). There will be no further liability to the Trustee in respect of Trustee’s fee other than the amount recognised above.

6. TAXATION

01.12.2016 to 31.05.2017

01.12.2015 to 31.05.2016

RM RM

Tax charged for the financial period:

- Current taxation 5,727 38,959

A numerical reconciliation between profit/(loss) before taxation multiplied by the Malaysian statutory income tax rate and tax expense of the Fund is as follows:

01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016

RM RM

Profit/(Loss) before taxation 77,887,380 (70,394,652)

Taxation at Malaysian statutory rate of 24% (31.05.2016: 24%) 18,692,971 (16,894,716)

Tax effects of: (Investment income not subject to tax)/Investment

loss not deductible for tax purposes (22,121,886) 13,635,372

Expenses not deductible for tax purposes 826,660 494,458 Restriction on tax deductible expenses for Unit Trust Funds 2,602,255 2,764,886

Investment income subject to different tax rate 5,727 38,959

Taxation 5,727 38,959


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7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

31.05.2017 30.11.2016 Audited RM RM Designated at fair value through profit or loss at inception: - Shariah-compliant quoted securities 1,238,200,191 1,183,508,092

01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016

RM RM

Net gain/(loss) on financial assets at fair value through profit or loss:

- Realised (loss)/gain on disposals (2,932,862) 35,643,852

- Unrealised fair value gain/(loss) 75,524,266 (112,220,790)

72,591,404 (76,576,938)

Aggregate Market Percentage

Name of counter Quantity cost value of NAV

Units RM RM %

31.05.2017 SHARIAH-COMPLIANT QUOTED SECURITIES

Construction Econpile Holdings Bhd 6,031,700 9,920,590 14,777,665 1.13

Gamuda Bhd 13,621,000 65,898,117 72,736,140 5.55

IJM Corp Bhd 9,861,940 32,812,643 34,319,551 2.62

Mitrajaya Holdings Bhd 10,246,800 14,355,897 13,935,648 1.06 Muhibbah Engineering

(M) Bhd 1,642,500 4,476,285 4,516,875 0.34

Pintaras Jaya Bhd 902,100 3,503,083 3,518,190 0.27

WCT Holdings Bhd 6,659,300 14,854,273 14,783,646 1.13

48,965,340 145,820,888 158,587,715 12.10

Consumer Products

Power Root Bhd 382,300 991,771 986,334 0.08

Finance

BIMB Holdings Bhd 7,638,600 32,003,554 34,526,472 2.64 BIMB Holdings Bhd - Warrant 1,529,880 - 573,705 0.04

9,168,480 32,003,554 35,100,177 2.68


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7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (CONTINUED)



Units RM RM %

31.05.2017 (CONTINUED

SHARIAH-COMPLIANT QUOTED SECURITIES (CONTINUED)

Industrials Cahya Mata Sarawak Bhd 4,705,600 19,831,780 19,292,960 1.47

Mieco Chipboad Bhd 197,500 420,101 426,600 0.03 Petronas Chemicals Group Bhd 8,359,900 56,560,838 61,278,067 4.68

Petronas Gas Bhd 1,390,600 29,445,291 25,809,536 1.97

SKP Resources Bhd 10,513,600 14,367,309 13,352,272 1.02

V.S. Industry Bhd 4,188,800 6,630,027 8,168,160 0.62

29,356,000 127,255,346 128,327,595 9.79

IPC

Digi.Com Bhd 8,144,000 42,420,981 40,312,800 3.08 Lingkaran Trans Kota

Holdings Bhd 568,500 3,357,363 3,467,850 0.26

Time dotCom Bhd 3,152,920 14,232,130 28,376,280 2.17

11,865,420 60,010,474 72,156,930 5.51

Plantation Felda Global Ventures Holdings Bhd 2,192,900 4,125,135 3,837,575 0.29

Genting Plantations Bhd 2,094,200 21,728,224 22,910,548 1.75

IOI Corp Bhd 7,135,600 33,886,456 32,466,980 2.48 Kuala Lumpur Kepong Bhd 1,649,000 38,408,668 40,829,240 3.12

13,071,700 98,148,483 100,044,343 7.64

Properties

LBS Bina Group Bhd 1,145,800 2,232,413 2,314,516 0.18

SP Setia Bhd 7,286,100 24,813,969 27,905,763 2.13

Sunway Bhd 6,234,100 22,265,174 22,131,055 1.69 SP Setia Bhd-Preference Shares 2,767,920 2,767,920 3,210,787 0.25

17,433,920 52,079,476 55,562,121 4.25

REITs

KLCCP Stapled Group 881,900 6,293,271 6,887,639 0.53


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Units RM RM %

31.05.2017 (CONTINUED)


Technology Malaysian Pacific

Industries 862,800 8,419,855 10,577,928 0.81

Unisem Bhd 2,638,600 8,323,978 9,340,644 0.71

3,501,400 16,743,833 19,918,572 1.52

Trading/Services

Aeon Co. M Bhd 5,415,600 12,943,148 12,672,504 0.97

Axiata Group Bhd 15,774,012 81,934,310 80,131,981 6.12

Bermaz Auto Bhd 3,196,000 6,961,924 6,392,000 0.49 Dayang Enterprise Holdings Bhd 11,488,900 14,038,384 12,637,790 0.97

Dialog Group Bhd 17,173,030 29,755,192 32,972,218 2.52

Gas Malaysia Bhd 6,413,400 16,656,116 18,342,324 1.40

IHH Healthcare Bhd 2,939,800 18,497,845 17,021,442 1.30

Malakoff Corp Bhd 5,729,600 9,767,264 6,760,928 0.52

MBM Resources Bhd 6,468,200 16,661,781 15,200,270 1.16

MISC Bhd 3,524,100 25,754,308 26,430,750 2.02

My Eg Services Bhd 11,947,250 14,234,688 25,328,170 1.93

Pecca Group Bhd 2,733,900 4,363,552 4,182,867 0.32

Petronas Dagangan Bhd 911,700 21,277,119 22,427,820 1.71

Pos Malaysia Bhd 2,779,300 12,072,528 13,701,949 1.05

Sapura Energy Bhd 15,791,500 29,832,770 27,950,955 2.13 Serba Dinamik Holdings Bhd 8,369,100 13,171,436 17,491,419 1.34

Sime Darby Bhd 11,916,705 97,462,569 111,063,690 8.48

Taliworks Corp Bhd 5,149,100 7,816,095 7,929,614 0.61

Tasco Bhd 3,843,200 8,665,305 9,415,840 0.72

Telekom Malaysia Bhd 8,761,174 57,409,822 56,772,408 4.34

Tenaga Nasional Bhd 9,479,725 110,828,040 130,630,611 9.98

UEM Edgenta Bhd 1,607,900 5,209,231 4,518,199 0.35

Yinson Holdings Bhd 193,200 653,016 653,016 0.05

161,606,396 615,966,443 660,628,765 50.48


34




Units RM RM %



TOTAL SHARIAH- COMPLIANT QUOTED SECURITIES 296,232,856

1,155,313,539

1,238,200,191

94.58

ACCUMULATED UNREALISED GAIN ON FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

82,886,652

TOTAL FINANCIAL ASSETS AT FAIR

VALUE THROUGH PROFIT OR LOSS

1,238,200,191

30.11.2016

Audited SHARIAH-COMPLIANT QUOTED SECURITIES

Construction Econpile Holdings Bhd 6,324,800 10,209,246 11,637,632 0.86

Gamuda Bhd 11,604,800 54,816,280 55,703,040 4.13

IJM Corp Bhd 13,214,440 43,967,080 42,682,641 3.16

Mitrajaya Holdings Bhd 10,407,700 14,685,136 12,593,317 0.93

41,551,740 123,677,742 122,616,630 9.08

Consumer Products

Sasbadi Holdings Bhd 6,632,200 9,165,096 9,218,758 0.68

Finance

BIMB Holdings Bhd 4,323,900 17,805,797 17,857,707 1.32 BIMB Holdings Bhd - Warrant 1,529,880 - 443,665 0.03

5,853,780 17,805,797 18,301,372 1.35


35




Units RM RM %


Audited (continued) SHARIAH-COMPLIANT QUOTED SECURITIES (CONTINUED)

Industrials

Hume Industries Bhd * 2,243,200 8,185,395 6,662,304 0.49

KNM Group Bhd 42,260,940 23,354,441 13,100,891 0.97 Kossan Rubber Industries Bhd 518,000 2,681,318 3,460,240 0.26 Petronas Chemicals Group Bhd 9,108,100 60,627,625 62,208,323 4.61

Petronas Gas Bhd 3,233,000 68,457,231 67,828,340 5.02

SKP Resources Bhd 11,727,600 16,276,820 16,066,812 1.19

Top Glove Corp Bhd 7,393,700 36,710,896 39,038,736 2.89

76,484,540 216,293,726 208,365,646 15.43

IPC

Digi.Com Bhd 10,770,000 57,177,690 53,457,990 3.96

Time dotCom Bhd 3,880,220 17,515,128 30,770,145 2.28

14,650,220 74,692,818 84,228,135 6.24

Plantation Felda Global Ventures Holdings Bhd 1,996,100 3,901,990 3,073,994 0.23

Genting Plantations Bhd 2,265,800 22,677,543 24,244,060 1.80

IOI Corp Bhd 8,590,600 41,186,842 37,369,110 2.77 Kuala Lumpur Kepong Bhd 1,731,500 40,330,266 41,348,220 3.06

14,584,000 108,096,641 106,035,384 7.86

Properties

SP Setia Bhd 4,610,000 15,246,089 15,213,000 1.13 SP Setia Bhd-Preference Shares 2,767,920 2,767,920 2,214,336 0.16

7,377,920 18,014,009 17,427,336 1.29

REITs

KLCCP Stapled Group 1,008,300 7,195,266 7,683,246 0.57

Trading/Services

Axiata Group Bhd 9,244,012 56,389,962 38,732,410 2.87

Bermaz Auto Bhd 5,045,900 11,142,954 10,848,685 0.80


36




Units RM RM %


Audited (continued) SHARIAH-COMPLIANT QUOTED SECURITIES (CONTINUED)

Trading/Services (continued)

Dialog Group Bhd 3,879,830 6,068,858 6,207,728 0.46

Gas Malaysia Bhd 4,201,100 11,170,391 10,838,838 0.80

IHH Healthcare Bhd 8,652,600 57,034,520 57,107,160 4.23

Malakoff Corp Bhd 21,853,300 37,253,376 29,501,955 2.19

MBM Resources Bhd 6,332,600 16,406,953 14,501,654 1.07

MISC Bhd 3,616,600 26,085,175 26,545,844 1.97

My Eg Services Bhd 11,306,100 16,922,582 25,438,725 1.88

Petronas Dagangan Bhd 1,211,000 28,262,138 27,853,000 2.06

Pos Malaysia Bhd 2,460,200 9,348,214 9,348,760 0.69

Sapura EnergyBhd 4,830,600 7,709,369 6,956,064 0.52

Sime Darby Bhd 15,165,405 123,524,904 120,716,624 8.94

Taliworks Corp Bhd 9,305,600 13,972,177 13,586,176 1.01

Telekom Malaysia Bhd 7,748,174 51,029,644 47,806,234 3.54

Tenaga Nasional Bhd 9,198,825 105,051,494 129,151,503 9.57

Westports Holdings Bhd 7,892,500 23,831,900 34,490,225 2.55

131,944,346 601,204,611 609,631,585 45.15

TOTAL SHARIAH- COMPLIANT QUOTED SECURITIES 300,294,046

1,176,145,706

1,183,508,092

87.65

ACCUMULATED UNREALISED GAIN ON FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

7,362,386

TOTAL FINANCIAL ASSETS AT FAIR

VALUE THROUGH PROFIT OR LOSS

1,183,508,092

* Hume Industries Bhd was delisted from the SACSC on 27 May 2016. The said security has

been fully disposed at a loss on 15 February 2017.


37

8. CASH AND CASH EQUIVALENTS (SHARIAH-COMPLIANT)

31.05.2017 30.11.2016 Audited RM RM

Shariah-compliant deposits with licensed Islamic financial institutions 49,284,481 161,517,012

Bank balances 2,071,663 23,317

51,356,144 161,540,329

The weighted average effective profit rate per annum is as follows:

31.05.2017 30.11.2016 Audited % %

Shariah-compliant deposits with licensed Islamic financial institutions 3.20 3.34

Shariah-compliant deposits with licensed Islamic financial institutions of the Fund have an average maturity of 4 days (30.11.2016: 15 days).

9. NUMBER OF UNITS IN CIRCULATION (UNITS)

01.12.2016

to 31.05.2017 01.06.2015

to 30.11.2016

Audited

No. of units No. of units

Class MYR (i) 3,876,918,569 4,231,097,876

Class SGD (ii) 5,452 1,060

3,876,924,021 4,231,098,936

(i) Class MYR

At the beginning of the financial period/year 4,231,097,876 4,130,329,046

Add : Creation of units from applications 108,458,309 430,345,914

Add : Creation of units from distribution - 231,767,835

Less : Cancellation of units (462,637,616) (561,344,919)

At the end of the financial period/year 3,876,918,569 4,231,097,876

(ii) Class SGD

At the beginning of the financial period/year 1,060 -

Add : Creation of units from applications 4,392 4,070

Less : Cancellation of units - (2,947)

At the end of the financial period/year 5,452 1,060


38

10. MANAGEMENT EXPENSE RATIO (“MER”)

01.12.2016 to 31.05.2017

01.12.2015 to 31.05.2016

% % MER 0.72 0.83

MER is derived from the following calculation:

MER = (A + B + C + D + E) x 100

F A = Management fee B = Trustee’s fee C = Audit fee D = Tax agent’s fee

E = Other expenses excluding Goods and Services Tax ("GST") on transaction costs F = Average NAV of the Fund calculated on a daily basis The average NAV of the Fund for the financial period calculated on a daily basis is RM1,355,313,969 (31.05.2016: RM1,431,325,419).

11. PORTFOLIO TURNOVER RATIO (“PTR”)

01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016

PTR (times) 0.44 0.21

PTR is derived based on the following calculation:

(Total acquisition for the financial period + total disposal for the financial period) ÷ 2 Average NAV of the Fund for the financial period calculated on a daily basis where: total acquisition for the financial

period = RM582,629,451 (31.05.2016: RM306,343,291)

total disposal for the financial period = RM600,528,756 (31.05.2016: RM 305,040,414)


39

12. UNITS HELD BY THE MANAGER AND PARTIES RELATED TO THE MANAGER, AND

SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES The related parties and their relationship with the Fund are as follows: Related parties Relationship CIMB-Principal Asset Management Bhd The Manager CIMB Group Sdn Bhd Holding company of the Manager CIMB Group Holdings Bhd (“CIMB”) Ultimate holding company of the Manager CIMB Islamic Bank Bhd Fellow related party to the Manager CIMB Investment Bank Bhd Fellow related party to the Manager Subsidiaries and associates of CIMB as Subsidiary and associated companies disclosed in its financial statements of the ultimate holding company of the Manager Units held by the Manager and parties related to the Manager

Class MYR 31.05.2017 30.11.2016

Audited

No. of units RM No. of units RM

Manager CIMB-Principal Asset Management Bhd 490,416 165,613 325,965 103,983

Class SGD 31.05.2017 30.11.2016

Audited

No. of units RM No. of units RM

Manager CIMB-Principal Asset Management Bhd 1,060 3,087 1,060 2,915

In the opinion of the Manager, the above units were transacted at the prevailing market price. The units are held beneficially by the Manager for booking purposes. Other than the above, there were no units held by the Directors or parties related to the Manager. In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions and balances. The Manager is of the opinion that all transactions with the related companies have been entered into in the normal course of business at agreed terms between the related parties.


40

12. UNITS HELD BY THE MANAGER AND PARTIES RELATED TO THE MANAGER, AND

SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (CONTINUED)

01.12.2016

to 31.05.2017 01.12.2015

to 31.05.2016 RM RM Significant related party transactions Profit income from Shariah-compliant deposits with licensed Islamic financial institutions:

- CIMB Islamic Bank Bhd 127,259,000 683,375

31.05.2017 30.11.2016

Audited

RM RM

Significant related party balances Shariah-compliant deposits with licensed Islamic financial institutions:

- CIMB Islamic Bank Bhd - 27,523,103

13. TRANSACTIONS WITH BROKERS/DEALERS/FINANCIAL INSTITUTIONS

Details of transactions with the top 10 brokers/dealers for the six months financial period ended 31 May 2017 are as follows:

Brokers/Dealers Value of

trades

Percentage of total trades

Brokerage fees

Percentage of total

brokerage fees

RM % RM % Macquarie Capital

Securities (Malaysia) Sdn Bhd 197,197,260 16.67 410,308 16.60

Credit Suisse (M) Sdn Bhd 180,846,827 15.29 370,056 14.97

JPMorgan Securities (M) Sdn Bhd 146,923,111 12.42 308,438 12.48

CIMB Investment Bank Bhd # 129,025,801 10.91 247,084 10.00

RHB Investment Bank Bhd 121,232,243 10.25 314,710 12.73

Maybank Investment Bank Bhd 115,398,336 9.75 209,497 8.48

CLSA Securities (M) Sdn Bhd 90,435,499 7.64 187,666 7.59

UBS Securities Malaysia Sdn Bhd 55,772,132 4.71 113,481 4.59

Hong Leong Investment Bank Bhd 48,188,426 4.07 102,040 4.13

Alliance Investment Bank Bhd 47,250,488 3.99 100,808 4.08

Others 50,888,084 4.30 107,419 4.35

1,183,158,207 100.00 2,471,507 100.00


41

13. TRANSACTIONS WITH BROKERS/DEALERS/FINANCIAL INSTITUTIONS (CONTINUED)

Details of transactions, primarily cash placements with the licensed Islamic financial institutions for the six months financial period ended 31 May 2017 are as follows:

Financial Institutions Value of

placements

Percentage of total

placements RM % Bank Islam Malaysia Bhd 389,601,000 34.31 Hong Leong Islamic Bank Bhd 219,950,000 19.37 Maybank Islamic Bhd 209,048,000 18.41 CIMB Islamic Bank Bhd # 156,495,000 13.78 Public Islamic Bank Bhd 121,113,000 10.67 RHB Islamic Bank Bhd 39,167,000 3.46

1,135,374,000 100.00

Details of transactions with the top 10 brokers/dealers for the six months financial period ended 31 May 2016 are as follows:

Brokers/Dealers Value of

trades

Percentage of total trades

Brokerage fees

Percentage of total

brokerage fees

RM % RM %

CIMB Investment Bank

Bhd # 221,010,830 34.16 444,588 32.93 RHB Investment Bank Bhd 99,819,502 15.43 204,489 15.14

Maybank Investment Bank Bhd 64,799,316 10.02 150,112 11.12

Kenanga Investment Bank Bhd 64,750,986 10.00 135,579 10.04

Hong Leong Investment Bank Bhd 50,634,554 7.83 106,345 7.88

AmInvestment Bank Bhd 44,485,998 6.88 95,256 7.05 Macquarie Capital Securities (Malaysia) Sdn Bhd 26,910,740 4.16 56,553 4.19

JPMorgan Securities (M) Sdn Bhd 22,643,526 3.50 47,981 3.55

UBS Securities Malaysia Sdn Bhd 16,569,274 2.56 35,402 2.62

Alliance Investment Bank Bhd Bank Bhd 14,590,733 2.26 31,705 2.35

Others 20,748,944 3.20 42,270 3.13

646,964,403 100.00 1,350,280 100.00


42

13. TRANSACTIONS WITH BROKERS/DEALERS/FINANCIAL INSTITUTIONS (CONTINUED)

Details of transactions, primarily cash placements with the licensed Islamic financial institutions for the six months financial period ended 31 May 2016 are as follows:

Financial Institutions Value of

placements

Percentage of total

placements RM % Bank Islam Malaysia Bhd 888,498,000 29.37 CIMB Islamic Bank Bhd # 764,096,000 25.25 Hong Leong Islamic Bank Bhd 448,065,000 14.81 Public Islamic Bank Bhd 360,661,000 11.92 Maybank Islamic Bhd 266,392,000 8.80 Alliance Islamic Bank Malaysia Bhd 200,203,000 6.62 RHB Islamic Bank Bhd 97,693,000 3.23

3,025,608,000 100.00

# Included in transactions are trades conducted with CIMB Islamic Bank Bhd and CIMB

Investment Bank Bhd, fellow related parties to the Manager amounting to RM156,495,000 (31.05.2016: RM764,096,000) and RM129,025,801 (31.05.2016: RM221,010,830) respectively. The Manager is of the opinion that all transactions with the related companies have been entered into in the normal course of business at agreed terms between the related parties.

14. SEGMENT INFORMATION

The internal reporting provided to the chief operating decision-maker for the Fund’s assets, liabilities and performance is prepared on a consistent basis with the measurement and recognition principles of MFRS and IFRS. The chief operating decision-maker is responsible for the performance of the Fund and considers the business to have a single operating segment located in Malaysia. Asset allocation decisions are based on a single, integrated investment strategy and the Fund’s performance is evaluated on an overall basis. The Fund aims to provide investors with medium to long-term capital appreciation through investments in securities of Malaysian companies that will benefit from prevailing investment themes and that conform with Shariah principles. The reportable operating segment derives its income by seeking investments to achieve targeted returns consummate with an acceptable level of risk within the portfolio. These returns consist of profit income and dividend income earned from Shariah-compliant investments and gains on the appreciation in the value of Shariah-compliant investments, which are derived from Ringgit-denominated Shariah-compliant deposits with licensed Islamic financial institutions in Malaysia and Shariah-compliant quoted securities listed on the Bursa Securities, Malaysia. There were no changes in reportable operating segment during the financial period.


43

DIRECTORY Head office of the Manager CIMB-Principal Asset Management Berhad (Company No.: 304078-K) 10th Floor, Bangunan CIMB, Jalan Semantan, Damansara Heights, 50490 Kuala Lumpur, MALAYSIA. Tel: (03) 2084 8888 Postal address CIMB-Principal Asset Management Berhad (Company No.: 304078-K) P.O.Box 10571, 50718 Kuala Lumpur, MALAYSIA. Website http://www.cimb-principal.com.my E-mail address [email protected] General investment enquiries (03) 7718 3100 Trustee for the CIMB Islamic Dali Equity Theme Fund HSBC (Malaysia) Trustee Berhad (Company No. 001281-T) 13th Floor, HSBC South Tower, No. 2, Lebuh Ampang, 50100 Kuala Lumpur, MALAYSIA. Tel: (03) 2075 7800 Fax: (03) 2179 6511

Shariah Adviser of the CIMB Islamic DALI Equity Theme Fund CIMB Islamic Bank Berhad (Company No.: 671380-H) Level 34, Menara Bumiputra-Commerce, No 11, Jalan Raja Laut, 50350 Kuala Lumpur, MALAYSIA. Tel: (03) 2619 1188 Fax: (03) 2691 3513, (03) 2691 3245


44

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES ADDRESS TELEPHONE REGIONAL OFFICE

Northern Region 5, Jalan Todak 4, Bandar Sunway, Seberang Jaya, 13700 Perai, Pulau Pinang.

04-370 2155 04-370 2156

Southern Region 23 & 23A, Jalan Harimau Tarum, Taman Century, 80250 Johor Bahru, Johor.

07-334 1748

Central Region 46, 2nd Floor, Jalan SS 21/39, Damansara Utama, 47400 Petaling Jaya, Selangor.

03-7712 2888

Sarawak 5B, Lot 414, Section 10, KTLD Jalan Rubber, 93400 Kuching, Sarawak.

082-259 777

Sabah 1, Jalan Pasar Baru, Kampung Air, 88000 Kota Kinabalu, Sabah.

088-239 951 088-239 952

BRANCHES

Ipoh 30A, 1st Floor, Persiaran Greentown 1, Greentown Business Centre, 30450 Ipoh, Perak.

05-243 9001 05-243 9002

Kota Bharu Ground Floor, 298-B, Jalan Tok Hakim, 15000 Kota Bharu, Kelantan.

09-747 1172 09-747 1190

Ampang 13B, 2nd Floor, Jalan Mamanda 7/1, Off Jalan Ampang, 68000 Ampang, Selangor.

03-4270 2970

Sri Petaling 169-2, Jalan Radin Bagus, Bandar Baru Sri Petaling, 57000 Kuala Lumpur.

03-9059 2333

Melaka 21, Jalan Melaka Raya 24, Taman Melaka Raya, 75000 Melaka.

06-281 1111

Miri 1st & 2nd Floor, Lot 1092, Jalan Merpati, 98000 Miri, Sarawak.

085-432 525

Kuantan 44 & 44A, Jalan Putra Square 6, Putra Square, 25000 Kuantan, Pahang.

09-513 4400

FINANCIAL CARE CENTER (FCC)

Financial Planning Centre

46, 2nd Floor, Jalan SS 21/39, Damansara Utama, 47400 Petaling Jaya, Selangor.

03-7718 3000


45

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES (CONTINUED) ADDRESS TELEPHONE SALES OFFICES - Klang Valley

AAAAA Wealth Builders

Lot C-615 & Lot C-616, Level 6, Block C, Kelana Square, 17 Jalan SS7/26, Kelana Jaya, 47301 Petaling Jaya, Selangor.

03-7880 6893

ACES Advisors 37-2, Jalan Cecawi 6/33, PJU 5, Kota Damansara, 47810 Petaling Jaya, Selangor.

03-6142 2970

Charisma Legacy B-1-22, B-2-21 & B-2-22, Block Bougainvillea, 10 Boulevard, Lebuhraya Sprint, PJU 6A, Kayu Ara, Damansara Jaya, 47400 Petaling Jaya, Selangor.

03-7722 3895

Charisma Legacy 2 B-3-21, Block Bougainvillea, 10 Boulevard, Lebuhraya Sprint, PJU 6A, Kayu Ara, Damansara Jaya, 47400 Petaling Jaya, Selangor.

03-7733 5009

Charisma Legacy 3 B-3-25, Block Bougainvillea, 10 Boulevard, Lebuhraya Sprint, PJU 6A, Kayu Ara, Damansara Jaya, 47400 Petaling Jaya, Selangor.

03-7733 2460

Charisma Legacy Damansara

B-3-17, Block Bougainvillea, 10 Boulevard, Lebuhraya Sprint, PJU 6A, Kayu Ara, Damansara Jaya, 47400 Petaling Jaya, Selangor.

03-7733 4211

Diamond Star Agency Office

Block E-1-03A & E-2-03A, Jalan SS6/20A, Dataran Glomac, 47301 Kelana Jaya, Selangor.

03-7880 7082

Dynamics Wealth Advisors

Unit B-3A-1, Setiawangsa Business Suites, Jalan Setiawangsa 11, Taman Setiawangsa, 54200 Kuala Lumpur.

03-4256 6277

Elite Group Consultants

6-2, Jalan Dagang 1/1A, Taman Dagang, 68000 Ampang, Selangor.

03-4251 1129

Emmaz Wealth Empire

17-2, Jalan Rampai Maju 1, Taman Sri Rampai, 53300 Kuala Lumpur.

03-4141 7574

Evoque Wealth Advisors

2nd Floor, 32A-2, Jalan PJU 5/20D, The Strand, Pusat Perdagangan Kota Damansara, PJU 5, Kota Damansara, 47810 Petaling Jaya, Selangor.

03-6151 9512

Fidelis Wealth Advisors

70-2, Jalan Tasik Utama 7, Medan Niaga Tasik Damai, The Trillium Lake Fields, 57000 Sungai Besi, Kuala Lumpur.

03-9054 8596

Global Amazing Entrepreneur

C-10-2 & C-11-2, Bangi Gateway Shopping Complex, Persiaran Pekililing, Seksyen 15, 43650 Bandar Baru Bangi, Selangor.

03-8920 9038

JAT XO Group D-10-08-G & D10-08-1, Pusat Perdagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor.

03-7831 1267


46

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES (CONTINUED) ADDRESS TELEPHONE SALES OFFICES - Klang Valley (Continued)

KPG Capital Growth Solution

15-1, Jalan Adenium 2G/9, Adenium Business Centre, 48300 Bukit Beruntung, 48300 Rawang, Selangor.

03-6021 7188

KPG Management Resources

19-2, Jalan Adenium 2G/9, Adenium Business Centre, Bukit Beruntung, 48300 Rawang, Selangor.

03-6021 7385

Magnificent Champion Agency Office

47A, Tingkat 1, Jalan Badminton 13/29, Seksyen 13, 40100 Shah Alam, Selangor.

03-5523 2693

Megas 2-6A, Jalan PJU 8/3A, Bandar Damansara Perdana, 47820 Petaling Jaya, Selangor.

03-7725 6320

Monalisa Private Wealth Advisors

41B & 43B, Jalan Wan Kadir 2, Taman Tun Dr Ismail, 60000 Kuala Lumpur.

03-7724 1789

My Financial Freedom Advisors

3A, Jalan Hentian 3, Pusat Hentian Kajang, 43000 Kajang, Selangor.

03-8741 4382

NRICH Wealth Advisory Group

ZP-02-12, Zest Point, Lebuhraya Bukit Jalil, Bandar Kinrara, 47180 Puchong, Selangor.

03-8074 8485

NSG Wealth Advisors

32-3, 4th Floor, Jalan Wangsa Delima 6, Kuala Lumpur Satelite Centre (KLSC), Section 5 Wangsa Maju, 53300 Kuala Lumpur.

03-4142 2911

Otye Xcellence Consultants

Lot 35-2, 2nd Floor, Jalan Sepah Puteri 5/1B, Pusat Dagangan Seri Utama, PJU 5, Kota Damansara, 47410 Petaling Jaya, Selangor.

03-6140 3046

Platinum A-2-1, Block A, 8 Jalan PJU 1A/20A, Dataran Ara Damansara, 47301 Petaling Jaya, Selangor.

03-7843 0506

Platinum 2 A-2-3, Block A, 8 Jalan PJU 1A/20A, Dataran Ara Damansara, 47301 Petaling Jaya, Selangor.

03-7843 0503

Preferred Wealth Advisors

12-01, D’Bayu Business Centre, Jalan Serambi U8/24, Bukit Jelutong, 40150 Shah Alam, Selangor.

03-6142 8382

Prestige Wealth Advisors

I-91-2, Block I, Jalan Teknologi 3/9, Kota Damansara, 47810 Petaling Jaya, Selangor.

03-6140 7275

SA@7 35B-2 (2nd Floor), Jalan Keluli Am7/Am, Pusat Perniagaan Bukit Raja, Seksyen 7, 40000 Shah Alam, Selangor.

03-3341 4978

Success Concepts Life Planners

J-06-01, Level 6, Block J, Solaris Mont’ Kiara, Jalan Solaris, 50480 Kuala Lumpur.

03-6204 0113


47

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES (CONTINUED)

ADDRESS TELEPHONE

SALES OFFICES - Klang Valley (Continued)

SWM Advisors Group

Block E-13-2, 2nd Floor, Jalan Serai Wangi M/16M, Alam Avenue 2 Seksyen 16, 40200 Shah Alam, Selangor.

019-388 2067

Synergy Wealth Entrepreneur

98-2, Jalan Dwitasik, Dataran Dwitasik, Bandar Sri Permaisuri, Cheras, 56000 Kuala Lumpur.

03-9226 5344

The One Asia Advisors

B-3A-23, Merchant Square, Jalan Tropicana Selatan 1, Tropicana Golf & Country Resort, 47410 Petaling Jaya, Selangor.

03-7887 4408

Tremendous Agency

65-2, Jalan Nelayan A, 19/A Pusat Daerah Seksyen 19, 40300 Shah Alam, Selangor.

03-5480 0296

Wealth Resources Group Advisors

41B, 3B Curve Business Park, Medan Pusat Bandar 2D, Seksyen 9, 43650 Bandar Baru Bangi, Selangor.

03-8926 4155

SALES OFFICES - Northern

Zenith Premier Wealth Advisors

98, 2nd Floor, Jalan Lagenda 1, Lagenda Heights, 08000 Sungai Petani, Kedah.

04-424 6042

SALES OFFICES - Southern

GVG Pasir Gudang Solution

38-01, Jalan Serangkai 18, Taman Bukit Dahlia, 81700 Pasir Gudang, Johor.

012-707 6107

GVG Solution Agency

24-1, Jalan Padi Emas 4/1, Pusat Bandar Tampoi, 81200 Johor Bahru, Johor.

07-232 6976

Kyzan Jaguar Agency

16-01, Jalan Padi Emas 1/5, UDA Business Centre, 81200 Johor Bahru, Johor.

07-300 9350

PremierOne Wealth 527-1, Jalan Pusat Bandar Senawang, Pusat Bandar Senawang, 70450 Senawang, Negeri Sembilan.

06-671 8253

Premier Wealth Advisors

18-1, Jalan S2 B18, Biz Avenue Seremban 2, 70300 Seremban, Negeri Sembilan.

06-601 5749

Soha Barakah Wealth Consultancy

55-2, 57-2 & 59-2, Jalan TU 49A, Taman Tasik Utama, Ayer Keroh, 75450, Melaka.

06-2533 289

Victorious Agency 98-02 Jalan Pertama 1, Pusat Perdagangan Danga Utama, 81200 Johor Bahru, Johor.

011-121 1840


48

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES (CONTINUED)

ADDRESS TELEPHONE SALES OFFICES - East Coast AMG Synergy Multiresources Sdn Bhd

50, Tingkat 1, Jalan Putra Square 1, Malay Town, 25200 Kuantan, Pahang.

09-516 1430

Charisma Legacy Kota Bharu

PT1671 & 1672, Tingkat 2, Jalan Raja Perempuan Zainab 2, Kubang Kerian, 16150 Kota Bharu, Kelantan.

016-223 6343

My IFP Kemaman PT 10725, Ground Floor, Jalan Kubang Kurus, Taman Cukai Utama Fasa 4, 24000, Kemaman, Terengganu.

09-858 9911

NZ Group PT 650, 1st & 3rd Floor, Jalan Sri Cemerlang, Seksyen 27,15300 Kota Bharu, Kelantan.

09-747 6932

SALES OFFICES - East Malaysia

JAT XO Group Bintulu

Shop Lot 2, Block 49, Of Parent Lot 2646, Park City Commerce Square, Jalan Kambar Bubin Off Jalan Tun Ahmad Zaidi, 97000 Bintulu, Sarawak.

012-217 2269

Sibu 15A, Jalan Ruby, 96000 Sibu, Sarawak. 084-325 515

cimb islamic dali equity theme fund … islamic dali equity theme fund unaudited financial...

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