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CIMB ISLAMIC PRS PLUS GROWTH FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2017

CIMB ISLAMIC PRS PLUS GROWTH

CONTENTS PAGE(S)

MEMBERS' LETTER

1

SHARIAH ADVISER’S REPORT

2

STATEMENT BY THE PRS PROVIDER

3

TRUSTEE'S REPORT

4

INDEPENDENT AUDITORS’ REPORT

5 - 8

PRS PROVIDER’S REPORT

Fund Objective and Policy Performance Data Market Review Fund Performance Portfolio Structure Market Outlook Investment Strategy Members Statistics Soft Commissions and Rebates

9 - 18

STATEMENT OF COMPREHENSIVE INCOME

19

STATEMENT OF FINANCIAL POSITION

20

STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO MEMBERS

21

STATEMENT OF CASH FLOWS

22

NOTES TO THE FINANCIAL STATEMENTS

23 - 42

DIRECTORY

43

LIST OF CWA (an Agency force of CIMB-Principal) OFFICES 44 - 48

1


MEMBERS’ LETTER

Dear Valued Members,

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 first half of 2017 with RM48 billion in Asset Under Management (“AUM”) and CIMB-Principal’s Group AUM has increased by 14% to RM63 billion, for 1-year period ending 30 June 2017. Our AUM for Private Retirement Schemes (“PRS”) business has increased by 25% year-on-year (“y-o-y”) to RM388 million as at 30 June 2017. 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. Thank you. Yours faithfully, for CIMB-Principal Asset Management Berhad

Munirah Khairuddin Chief Executive Officer/Executive Director

2


SHARIAH ADVISER’S REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH We have acted as the Shariah Adviser of CIMB Islamic PRS Plus Growth (the “Fund”) for the financial year ended 31 August 2017. Our responsibility is to ensure that the procedures and processes employed by CIMB-Principal Asset Management Berhad (the “PRS provider”) are in accordance with Shariah and Shariah Investment Guidelines. In our opinion, the PRS provider 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 financial year ended 31 August 2017. In addition, we 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 and, where applicable the Shariah Advisory Council of Bank Negara Malaysia. For investments other than the abovementioned, we have reviewed the same and are of the opinion that these investments were in accordance with the Shariah Investment Guidelines of the Fund.

This report is made solely to the members 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 PRS provider. For and on-behalf of the Shariah Adviser CIMB Islamic Bank Berhad ASHRAF GOMMA ALI Regional Head, Shariah & Governance/Designated Person Responsible for Shariah Advisory Kuala Lumpur 27 October 2017

3


STATEMENT BY THE PRS PROVIDER TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH We, being the Directors of CIMB-Principal Asset Management Berhad (the "PRS Provider"), do hereby state that, in the opinion of the PRS Provider, the accompanying audited financial statements set out on pages 19 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 August 2017 and of its financial performance, changes in net assets attributable to members and cash flows for the financial year then ended in accordance with the provisions of Malaysian Financial Reporting Standards ("MFRS") and International Financial Reporting Standards (“IFRS”). For and on behalf of the PRS Provider CIMB-Principal Asset Management Berhad (Company No.: 304078-K) MUNIRAH KHAIRUDDIN ALEJANDRO ECHEGORRI Chief Executive Officer/Executive Director Executive Director Kuala Lumpur 27 October 2017

4


TRUSTEE’S REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH We have acted as Trustee for CIMB Islamic PRS Plus Growth (the “Fund”) for the financial year ended 31 August 2017. To the best of our knowledge, for the financial year under review, CIMB-Principal Asset Management Berhad (the “PRS Provider”) has operated and managed the Fund in accordance with the following:- (a) limitations imposed on the investment powers of the PRS Provider under the Deed(s), the

Securities Commission’s Guidelines on Private Retirement Schemes, the Capital Markets and Services Act 2007 and other applicable laws;

(b) valuation and pricing for the Fund has been carried out in accordance with the Deed(s) of the

Fund and applicable regulatory requirements; and (c) creation and cancellation of units for the Fund have been carried out in accordance with the

Deed(s) of the Fund and applicable regulatory requirement. For Deutsche Trustees Malaysia Berhad Soon Lai Ching Richard Lim Hock Seng Senior Manager, Trustee Operations Chief Executive Officer Kuala Lumpur 26 October 2017

5


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH REPORT ON THE FINANCIAL STATEMENTS Our opinion In our opinion, the financial statements of CIMB Islamic PRS Plus Growth (the “Fund”) give a true and fair view of the financial position of the Fund as at 31 August 2017, and of its financial performance and its cash flows for the year then ended in accordance with Malaysian Financial Reporting Standards and International Financial Reporting Standards. What we have audited We have audited the financial statements of the Fund, which comprise the statement of financial position as at 31 August 2017, and the statement of comprehensive income, statement of changes in net assets attributable to members and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, as set out on pages 19 to 42. Basis for opinion We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the “Auditors’ responsibilities for the audit of the financial statements” section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence and other ethical responsibilities We are independent of the Fund in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code.

6


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH (CONTINUED) REPORT ON THE FINANCIAL STATEMENTS (CONTINUED) Information other than the financial statements and auditors’ report thereon The PRS Provider of the Fund is responsible for the other information. The other information comprises PRS Provider’s report but does not include the financial statements of the Fund and our auditors’ report thereon. Our opinion on the financial statements of the Fund does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements of the Fund, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements of the Fund or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the PRS Provider for the financial statements The PRS Provider of the Fund is responsible for the preparation of the financial statements of the Fund that give a true and fair view in accordance with Malaysian Financial Reporting Standards and International Financial Reporting Standards. The PRS Provider is also responsible for such internal control as the PRS Provider determine is necessary to enable the preparation of financial statements of the Fund that are free from material misstatement, whether due to fraud or error. In preparing the financial statements of the Fund, the PRS Provider is responsible for assessing the Fund’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the PRS Provider either intend to liquidate the Fund or have no realistic alternative but to do so.

7


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH (CONTINUED) REPORT ON THE FINANCIAL STATEMENTS (CONTINUED) Auditors’ responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements of the Fund as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with approved standards on auditing in Malaysia and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: (a) Identify and assess the risks of material misstatement of the financial statements of the Fund,

whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

(b) Obtain an understanding of internal control relevant to the audit in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control.

(c) Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the PRS Provider. (d) Conclude on the appropriateness of the PRS Provider’s use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Fund’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements of the Fund or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Fund to cease to continue as a going concern.

(e) Evaluate the overall presentation, structure and content of the financial statements of the

Fund, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

8


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CIMB ISLAMIC PRS PLUS GROWTH (CONTINUED) REPORT ON THE FINANCIAL STATEMENTS (CONTINUED)

Auditors’ responsibilities for the audit of the financial statements (continued) We communicate with the PRS Provider regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. OTHER MATTERS This report is made solely to the members of the Fund and for no other purpose. We do not assume responsibility to any other person for the content of this report. PRICEWATERHOUSECOOPERS (No. AF: 1146) Chartered Accountants Kuala Lumpur 27 October 2017

9


PRS PROVIDER’S REPORT FUND OBJECTIVE AND POLICY

What is the investment objective of the Fund? The Fund seeks to provide capital growth over the long-term by investing in a portfolio of primarily Shariah-compliant equities with some exposure in Sukuk. Has the Fund achieved its objective? For the financial year under review, the Fund has performed in line with its objective.

What are the Fund investment policy and principal investment strategy? The Fund will invest in a portfolio of mixed assets, primarily in Shariah-compliant equities with some exposure in Sukuk, to provide capital growth to the Fund. The investments by the Fund in Shariah-compliant equities which include foreign exposure shall not exceed 70% of the Fund’s Net Asset Value (“NAV”) and investments in both local and foreign Sukuk shall not be less than 30% of its NAV with a minimum credit rating of “BBB3” or “P2” by RAM Ratings (“RAM”) or equivalent rating by Malaysian Rating Corporation Berhad (“MARC”) or “BBB” by Standard and Poor's (“S&P”) or equivalent rating by Moody’s or Fitch. The fixed income portion will provide capital stability to the Fund whilst the equity portion will provide the added return in a rising market. The Fund may opt to invest in Sukuk and Shariah-compliant equities either directly or via Shariah-compliant collective investment schemes. Fund category/type Core (Growth)

When was the Fund launched? 12 November 2012 What was the size of the Fund as at 31 August 2017? RM42.09 million (62.96 million units) What is the Fund’s benchmark? 70% Financial Times Stock Exchange (“FTSE”) Bursa Malaysia ("FBM") EMAS Shariah ("FBMS") Index + 30% Quant shop Government Investment Issues (“GII”) Short Index Note: The risk profile of the Fund is not the same as the risk profile of the benchmark.

What is the Fund distribution policy? The Fund is not expected to pay any distribution.

10


PERFORMANCE DATA

Details of portfolio composition of the Fund for the last three financial years are as follows:

31.08.2017 31.08.2016 31.08.2015

% % %

Shariah-compliant collective investment schemes 98.88 98.68 97.85

Cash and other net assets 1.12 1.32 2.15

100.00 100.00 100.00

Performance details of the Fund for the last three financial years are as follows:

31.08.2017 31.08.2016 31.08.2015

NAV (RM Million)

- Class A 19.38 13.01 9.16

- Class C 1.69 1.05 0.69

- Class X 21.02 13.12 7.73

Units in circulation (Million)

- Class A 28.99 21.69 15.81

- Class C 2.52 1.76 1.18 - Class X 31.45 21.86 13.33

NAV per unit (RM)

- Class A 0.6685 0.5998 0.5796

- Class C 0.6685 0.5998 0.5796

- Class X 0.6685 0.5998 0.5796

Highest NAV per unit (RM)

- Class A 0.6686 0.6008 0.5919

- Class C 0.6686 0.6008 0.5919

- Class X 0.6686 0.6008 0.5919

Lowest NAV per unit (RM)

- Class A 0.5899 0.5516 0.5325

- Class C 0.5898 0.5516 0.5325 - Class X 0.5899 0.5516 0.5326

Total return (%)

- Class A 11.47 3.27 4.20

- Class C 11.47 3.27 4.20

- Class X 11.45 3.27 4.20

Capital growth (%)

- Class A 11.47 3.27 4.20

- Class C 11.47 3.27 4.20

- Class X 11.45 3.27 4.20

Income distribution (%)

- Class A - - -

- Class C - - - - Class X - - -

Management Expense Ratio (“MER”) (%) 0.16 0.16 0.14

Portfolio Turnover Ratio (“PTR”) (times) # 0.55 0.39 1.35 # For the financial year under review, the Fund’s PTR increased from 0.39 times to 0.55 times as

there were more trading activities carried out within the reporting year.

11


PERFORMANCE DATA (CONTINUED)

31.08.2017

31.08.2016

31.08.2015

31.08.2014

Since inception to

31.08.2013 % % % % %

Annual total return

- Class A 11.47 3.27 4.20 10.09 1.26

- Class C 11.47 3.27 4.20 10.07 1.26

- Class X 11.45 3.27 4.20 10.09 1.26

(Launch date: 12 November 2012) 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 year have been extracted from Lipper.

MARKET REVIEW (1 SEPTEMBER 2016 TO 31 AUGUST 2017)

Sukuk In August 2016, trading sentiment for GII improved following the announcement that GII to be included into JPMorgan’s Government Bond Index-Emerging Markets (“GBI-EM”) effective end October 2016 starting with the 7-year and 10-year GII benchmarks. GII yields went lower as investors increased investment allocation, rotating into GII ahead of inclusion in October 2016. However, the sovereign securities were sold-off after the surprise win by Donald Trump in the US Presidential Election in November 2016 as investors continued to anticipate proposed policies under the new Trump administration. The US Federal Reserve (the “Fed”), as expected, hiked the Fed Funds Rate by 25 basis points (“bps”) in December 2016 and another 25 bps in the March 2017 Federal Open Market Committee

(“FOMC”) meeting. Fed’s Janet Yellen said the hike signals her view ‘the economy is doing well’. Locally, Malaysia's economy grew at its fastest pace in two years in the first quarter of 2017, bolstered by strong domestic demand, a rise in manufacturing activity and higher exports. It was also the third consecutive quarter of growth and it also beat market expectations. Gross Domestic Product (“GDP”) rose by 5.6% in the three months ended 31 March 2017 from a year earlier, according to Bank Negara Malaysia (“BNM”). In April 2017, improved sentiment was seen in the domestic sovereign market after 5 consecutive months of outflows. We saw rally in the short end of the curve driven by strong buying interest from local and some foreign investors following the announcement by BNM to allow flexibility on currency trading on the onshore market. The sovereign yields traded higher across the curve in June 2017 due to selling pressure seen in the global market affected by the surprised optimistic comments by several central bankers. The mild correction continued towards July 2017 as market players were cautious to the potential tightening of monetary policy by the developed markets. During the financial year under review, BNM kept Overnight Policy Rate (“OPR”) stable at 3.00%. In its recent July 2017 meeting, BNM kept its OPR unchanged for the sixth consecutive time and showed little inclination to adjust its monetary policy despite the strong growth and higher inflation in the first quarter of 2017. The policy statement also continued to strike a neutral tone. BNM reiterated that headline inflation is poised to moderate from here.

12


MARKET REVIEW (1 SEPTEMBER 2016 TO 31 AUGUST 2017) (CONTINUED) Local Equity The FBMS Index edged higher by 2.56% to 12,749.09 points over the financial year under review. Fourth quarter of 2016 saw Malaysian markets plunged into negative territory. Budget 2017 announced in October 2016 with a focus on private consumption and fiscal consolidation was initially supportive of the local equities. However, Trump’s victory in November 2016 sent global markets into a period of high volatility amid uncertainties on US’s economic policies and global economic climate. Local markets were not spared and nosedived in November 2016. Markets were relatively quiet throughout December 2016 as investors awaited more clarity from US president elect Donald Trump’s policies with his inauguration on 20 January 2017. Malaysian markets rebounded in the first quarter of 2017, led by inflows from foreign funds. Markets were also buoyed by the optimism on restructuring activities within the Government-Linked Companies (“GLCs”) such as Sime Darby Bhd and UMW Holdings Bhd, which led to the outperformance of the consumer discretionary and industrial sectors. Over the quarter, the local market remained well bid with bullish undertones led by foreign flows that remained very underweight on Malaysia. Net foreign inflows amounted to RM5.7 billion for the first quarter of 2017 and RM4.4 billion in March 2017 itself. Malaysian markets trended marginally higher in the second quarter of 2017, on the back of 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 in April 2017 on continued optimism about Saudi Aramco’s potential USD7 billion investments in Refinery and Petrochemical Integrated Development (“RAPID”) project. In June 2017, local investors turned slightly cautious as foreign net buying tapered off. Throughout July 2017 and August 2017, stock market drifted sideways as second quarter earnings were non-inspiring. Malaysia’s macroeconomic fundamentals remain strong as GDP for the second quarter came in at 5.8%, following a 5.6% expansion in the first quarter. Consequently, various economists have upgraded their full year GDP forecast for Malaysia between 5.2% to 5.5% (Government estimate between 4.3% to 4.8%). Asian Equity The Morgan Stanley Capital International All Country (“MSCI AC”) Asia ex Japan Islamic Index posted a solid gain of 29.40%, in Malaysian Ringgit (“MYR”) term, closing at 1,287.20 points over the financial period under review. In US Dollar (“USD”) term, the Index grew by 23.30%. Asian equities reversed its upward trend in the fourth quarter of 2016 when China started to tighten restrictions on property transactions in October 2016, reflecting the Chinese government’s concern on the property bubble. Sentiment deteriorated when the USD strengthened significantly in November 2016 post the Presidential Election results. The US Bond yields rose globally, led by expectations of rising inflation and fiscal stimulus in the US. The US stocks outperformed, at the expense of EM.

13


MARKET REVIEW (1 SEPTEMBER 2016 TO 31 AUGUST 2017) (CONTINUED) Asian Equity (Continued) Asian equities however rallied strongly in the first quarter of 2017, buoyed by reflation of global economies, low inflation, falling bond yields and signs that Trump’s trade policies may be more benign than expected or further delayed. The People’s Bank of China (“PBOC”) raised interest rates on a key funding tool, the medium-term lending facility (“MLF”) in January 2017 to cut debt levels and bolster financial stability. Global manufacturing output Purchasing Managers' Index (“PMI”) continued its robust uptrend in February 2017 (the highest level since June 2011). While closing second quarter of 2017 and first half of 2017 with very strong equity returns, the month of June 2017 itself was muted. In June 2017, markets seemed to be adjusting to the possibility of higher rates and lower monetary accommodation through reduced Quantitative Easing (“QE”) effects. The second quarter of 2017 earnings season also played its hand as markets waited to assess the extent of spillover of weak commodity prices into corporate earnings and confidence. A stronger Euro Dollar (“EUR”) pegged European equities back, while Asian and emerging equities continued to outperform developed markets. In July 2017, macroeconomic data remained supportive, macroeconomic surprises turned positive, global financial conditions remained benign, while fund flows went into European, Asian and EM equities. Despite the tension on the Korean peninsula in August 2017, positive returns were seen in the broad spectrum of risk assets globally, led by Asian equities.

FUND PERFORMANCE

1 year

to 31.08.2017 3 years

to 31.08.2017 Since inception

to 31.08.2017

Class

A Class

C Class

X Class

A Class

C Class

X Class

A Class

C Class

X % % % % % % % % % Income - - - - - - - - - Capital 11.47 11.47 11.45 19.95 19.95 19.93 33.72 33.70 33.70 Total Return 11.47 11.47 11.45 19.95 19.95 19.93 33.72 33.70 33.70 Benchmark 2.39 2.39 2.39 7.25 7.25 7.25 17.37 17.37 17.37 Average Total

Return 11.47 11.47 11.45

6.25

6.25

6.25

6.23

6.23

6.23 For the 1-year period, Class A and Class C gained by 11.47%, while Class X gained by 11.45%. Meanwhile, the benchmark appreciated by 2.39% over the same reporting period. The outperformance of the Fund relative to its benchmark was driven mainly by the allocation into equity fund. The slight variation in the performance between Class A, Class C and Class X, if any, was due to different timing of units created for each class.

14


FUND PERFORMANCE (CONTINUED) 1 year to 31.08.2017

3 years to 31.08.2017

-4.00%

-2.00%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

Class A, C and X*

Benchmark

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

Class A, C and X*

Benchmark

15


FUND PERFORMANCE (CONTINUED)

Since inception to 31.08.2017

* Performance of Class A, Class C and Class X are almost the same. Slight variation was due to different timing of units

created for each of the class.

Changes in NAV CLASS A

31.08.2017

31.08.2016

Changes %

NAV (RM Million) 19.38 13.01 48.96

NAV/Unit (RM) 0.6685 0.5998 11.45 CLASS C

31.08.2017

31.08.2016

Changes %

NAV (RM Million) 1.69 1.05 60.95

NAV/Unit (RM) 0.6685 0.5998 11.45 CLASS X

31.08.2017

31.08.2016

Changes %

NAV (RM Million) 21.02 13.12 60.21

NAV/Unit (RM) 0.6685 0.5998 11.45 The Fund recorded positive net inflow from unit creations over the financial year under review for all the three classes - Class A, Class C and Class X.

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

Class A, C and X*

Benchmark

16


FUND PERFORMANCE (CONTINUED) Changes in NAV (continued) The total NAV of Class X rose to RM 21.02 million, or by 60.21%, over the 1-year period. Meanwhile, the total NAV of Class A and Class C grew by 48.96% and 60.95% respectively. For the 1-year period, the Fund ranked 3rd in Quartile 2 under the Mixed Asset MYR Aggressive Islamic category in the Lipper rankings.

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 year have been extracted from Lipper.

PORTFOLIO STRUCTURE Asset allocation

(% of NAV) 31.08.2017 31.08.2016

Shariah-compliant collective investment schemes 98.88 98.68

Cash and other net assets 1.12 1.32

Total 100.00 100.00 The Fund was fully invested during the financial year under review. A minimal level of liquid assets was maintained primarily for redemption purposes. At the reporting date, some material amount of creations was still sitting in the receivables which will be invested into the collective investment schemes. MARKET OUTLOOK* Sukuk Inflation growth in Malaysia slowed to 3.6% y-o-y in June 2017 after it peaked at 5.1% y-o-y in March 2017 and is expected to trend lower in the coming months. We expect the headline inflation to moderate for the rest of the year. We think GDP growth should be strong in 2017 (market projecting between 4.5% to 5.0%) and the fiscal consolidation to be on track to meet the 3.0% fiscal deficit in 2017. Consequently, we expect the Central Bank to keep its policy rate unchanged in 2017. Meanwhile, the global economy is expected to expand in a synchronised manner, as major risks weighing on the growth outlook such as Chinese hard-landing and political crisis in the European Union (“EU”) have receded. Against this backdrop of global growth, market is taking the view that major Central Banks could shift to less accommodative policies. Nevertheless, the combination of the Fed’s decision to reduce its USD4.5 trillion balance sheet and European Central Bank (“ECB”) tapering its QE program could limit flows into the EM and makes EM vulnerable to outflows. Lack of foreign flows will dampen sentiment in the domestic sovereign bond market as global Central Banks pull back liquidity. Due to growing concerns on low inflation, the market has priced in a lower probability of another rate hike this year. Despite that, we are still of the view that the US FOMC will hike another 25 bps by end of this year.

17


MARKET OUTLOOK* (CONTINUED) Local Equity We expect the market to trade sideways despite the external headwinds from geopolitics and Central Banks normalisation plans, as well as the net foreign outflows recorded for Bursa Securities, Malaysia in August 2017 (June 2017: +RM359 million; July 2017: +RM419 million; and August 2017: -RM241 million). Second quarter earnings were non-inspiring but we are hopeful that the second half of 2017 results will recover. Although we expect the market to trade sideways, various key themes still present good opportunities for returns. They include: 1) Infrastructure theme as momentum for job awards pick up; 2) E-commerce/logistics theme as Malaysia develops into a regional logistics hub; and 3) Tourism theme as strong air travel demand continues, complemented by airline capacity expansion. Asian Equity Given Asian equities are up 29% year-to-date (“YTD”), we expect to see a pause in the short term. Continued earnings growth (financial year 2018 growth +11%) and the prospects of higher return on equity (“ROE”) will drive performance in 2018. Corporate results in the first half were good and overall earnings estimates for 2017 were upgraded more or less 2%. Earnings upgrades in Asia are showing signs of broadening beyond the technology sector. Within technology, we are watchful of sentiment, regulations and product cycles. * 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 As this is a core Fund for the PRS, the Fund will continue to remain fully invested with minimal cash kept for redemption purposes. Our asset allocation decisions will continue to be subjected to market conditions.

18


MEMBERS STATISTICS AS AT 31 AUGUST 2017 CLASS A Size of unit holdings (units) No. of members No. of units held

(million) % of units held

5,000 and below 5,768 9.48 32.70

5,001-10,000 1,117 7.27 25.09

10,001-50,000 508 8.82 30.40

50,001-500,000 33 3.42 11.81

500,001 and above - - - Total 7,426 28.99 100.00

CLASS C Size of unit holdings (units) No. of members No. of units held


5,000 and below 420 0.64 25.38

5,001-10,000 89 0.60 23.62

10,001-50,000 62 0.91 36.38

50,001-500,000 2 0.37 14.62

500,001 and above - - - Total 573 2.52 100.00

CLASS X Size of unit holdings (units) No. of members No. of units held


5,000 and below 7,313 8.61 27.39

5,001-10,000 1,209 8.51 27.06

10,001-50,000 697 12.81 40.72

50,001-500,000 16 1.52 4.83

500,001 and above - - - Total 9,235 31.45 100.00

SOFT COMMISSIONS AND REBATES The PRS Provider 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 year under review, the PRS Provider and the Trustee did not receive any rebates from the brokers or dealers but have retained soft commissions in the form of goods and services such as financial wire services and stock quotations system incidental to investment management of the Funds.

19


STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2017

2017

2016

Note RM

RM

INVESTMENT INCOME Dividend income

1,051,679

654,163

Net gain on financial assets at fair value through profit or loss 7 2,881,338

298,717

3,933,017

952,880

EXPENSES Private Pension Administrator's fee 4 13,571

8,624

Trustee’s fee 5 13,571

8,624

Audit fee

9,360

8,860

Tax agent’s fee

8,800

4,600

Other expenses

10,230

3,343

55,532

34,051

PROFIT BEFORE TAXATION

3,877,485

918,829

Taxation 6 -

-

INCREASE IN NET ASSETS ATTRIBUTABLE TO MEMBERS

3,877,485

918,829

Increase in net assets attributable to members

are made up as follows: Realised amount

1,665,394

674,273

Unrealised amount

2,212,091

244,556

3,877,485

918,829

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

20


STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2017


2017

2016

Note RM

RM

ASSETS Cash and cash equivalents (Shariah-compliant) 8 75,169

33,152

Financial assets at fair value through profit or loss (Shariah-compliant) 7 41,618,816

26,819,838

Amount due from the PRS Provider 9 488,319

402,937

Tax recoverable

56

1,013

TOTAL ASSETS

42,182,360

27,256,940

LIABILITIES Amount due to the PRS Provider 9 74,014

64,102

Other payables and accruals

17,765

15,528

TOTAL LIABILITIES (EXCLUDING NET ASSETS ATTRIBUTABLE TO MEMBERS)

91,779

79,630

NET ASSET VALUE OF THE FUND

42,090,581

27,177,310

NET ASSETS ATTRIBUTABLE TO MEMBERS 42,090,581 27,177,310

REPRESENTED BY: FAIR VALUE OF OUTSTANDING UNITS

- Class A

19,381,123

13,008,129

- Class C

1,685,036

1,053,519

- Class X

21,024,422

13,115,662

42,090,581

27,177,310

NUMBER OF UNITS IN CIRCULATION (UNITS) - Class A

28,990,175

21,685,144 - Class C

2,520,426

1,756,411

- Class X

31,449,076

21,864,801

10 62,959,677

45,306,356

NET ASSET VALUE PER UNIT (RM) - Class A

0.6685

0.5998

- Class C

0.6685

0.5998

- Class X

0.6685

0.5998

21


STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO MEMBERS FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2017

2017 2016

RM RM

NET ASSETS ATTRIBUTABLE TO MEMBERS AT THE

BEGINNING OF THE FINANCIAL YEAR

27,177,310 17,576,803 Movement due to units created and cancelled during the

financial year:

Creation of units from applications

- Class A 5,551,684 4,170,943

- Class C 584,806 391,209

- Class X 7,319,677 6,108,002

Cancellation of units

- Class A (1,010,088) (751,138)

- Class C (103,165) (57,087)

- Class X (1,307,128) (1,180,251)

38,213,096 26,258,481 Increase in net assets attributable to members during the

financial year:

Profit after taxation and total comprehensive income 3,877,485 918,829

NET ASSETS ATTRIBUTABLE TO MEMBERS AT THE END OF THE FINANCIAL YEAR 42,090,581 27,177,310


22


STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2017

2017 2016

Note RM RM

CASH FLOWS FROM OPERATING ACTIVITIES Proceeds from disposal of Shariah-compliant collective investment schemes

13,268,000 4,084,181

Purchase of Shariah-compliant collective investment schemes

(24,174,000) (12,691,803)

Private Pension Administor's fee paid (13,066) (8,348)

Trustee's fee paid (13,066) (7,730)

Payments for other fees and expenses (27,163) (14,417)

Tax refund received 996 -

Net cash used in operating activities (10,958,299) (8,638,117)

CASH FLOWS FROM FINANCING ACTIVITIES

Cash proceeds from units created 13,370,785 10,578,933

Payments for cancellation of units (2,370,469) (1,988,533)

Net cash generated from financing activities 11,000,316 8,590,400

Net increase/(decrease) in cash and cash equivalents 42,017 (47,717) Cash and cash equivalents at the beginning of the financial year

33,152 80,869

Cash and cash equivalents at the end of the financial year 8

75,169 33,152

Cash and cash equivalents comprised of:

Bank balances 75,169 33,152

Cash and cash equivalents at the end of the financial year 8

75,169 33,152


23


NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2017 1. THE FUND, THE PRS PROVIDER AND ITS PRINCIPAL ACTIVITY

CIMB Islamic PRS Plus Growth (the “Fund”) is governed by a Deed dated 8 November 2012, a First Supplemental Deed dated 2 January 2014 and a Second Supplemental Deed dated 25 November 2014 (collectively referred to as the “Deeds”) made between CIMB-Principal Asset Management Berhad (the “PRS Provider”) and Deutsche Trustees Malaysia Berhad (the “Trustee”). The Fund offers three classes of units known respectively as Class A, Class C and Class X. In accordance with the Disclosure Document, Class A and Class C are for members who have attained the age of 18 years as of the date of opening a private pension account. Class A and C have different management fee. Class X is for members who participate via respective employers and is subject to a minimum of 200 participating employees per employer or 50 participating employees under payroll deduction per employer. The Fund will invest in a portfolio of mixed assets, primarily in Shariah-compliant equities with some exposure in Sukuk, to provide capital growth to the Fund. The investments by the Fund in Shariah-compliant equities which include foreign exposure shall not exceed 70% of the Fund’s NAV and investments in both local and foreign Sukuk shall not be less than 30% of its NAV with a minimum credit rating of “BBB3” or “P2” by RAM or equivalent rating by MARC or “BBB” by S&P or equivalent rating by Moody’s or Fitch. The fixed income portion will provide capital stability to the Fund whilst the equity portion will provide the added return in a rising market. The Fund may opt to invest in Sukuk and Shariah-compliant equities either directly or via Shariah-compliant collective investment schemes. All investments are subjected to the Securities Commission Malaysia (“SC”) Guidelines on PRS, 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 PRS Provider, 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 PRS Provider is also an associate of Principal International (Asia) Limited, which is a subsidiary of Principal Financial Group Inc. The principal activities of the PRS Provider are the establishment and management of unit trust funds and fund management activities.

24


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 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 year. It also requires the PRS Provider to exercise their judgment in the process of applying the Fund’s accounting policies. Although these estimates and judgment are based on the PRS Provider’s best knowledge of current events and actions, actual results may differ. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 2(j). 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 September 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.

25


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(a) Basis of preparation (continued)

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 year or any prior financial year and is not likely to affect future years. 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 September 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. (ii) Financial year beginning on/after 1 September 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.

26



(a) Basis of preparation (continued)

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

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.

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.

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.

27



(b) Financial assets and financial liabilities

Classification

The Fund designates its investments in Shariah-compliant collective investment schemes 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 are 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, and amount due from the PRS Provider.

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 the PRS Provider, 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. 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 year 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 collective investment schemes are valued based on the most recent published NAV per unit or share of such Shariah-compliant collective investment schemes or, if unavailable, on the last published price of such unit or share (excluding any sales charge included in such selling price). Financing and receivables and other financial liabilities are subsequently carried at amortised cost using the effective interest method.

28



(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 year 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 interest 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 year, 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.

Realised gain or loss on disposal of Shariah-compliant collective investment schemes

is accounted for as the difference between the net disposal proceeds and the carrying amount of Shariah-compliant investments, determined on a weighted average cost basis.

(d) 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.

29



(e) Creation and cancellation of units

The members’ 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 three classes of units, known respectively as the Class A, Class C and Class X, which are cancelled at the member’s option and do not have identical features subject to restrictions as stipulated in the Disclosure Document and SC Guidelines on PRS. 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 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 member’s 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 equivalent comprise bank balances 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 year.

(h) Increase/Decrease in net assets attributable to members

Income not distributed is included in net assets attributable to members.

(i) 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.

(j) 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 Funds’ results and financial position are tested for sensitivity to changes in the underlying parameters. Estimates and judgment are continually evaluated by the PRS Provider and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

30



(j) Critical accounting estimates and judgments in applying accounting policies (continued)

In undertaking any of the Fund’s Shariah-compliant investment, the PRS Provider 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 PRS.

However, the PRS Provider is of the opinion in applying these accounting policies, no significant judgment was required.

3. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT OBJECTIVES AND POLICIES

Financial instruments of the Fund are as follows:

Financial assets at fair

value through profit or loss

Financing

and receivables

Total

RM

RM

RM

2017 Cash and cash equivalents (Shariah-

compliant) (Note 8) -

75,169

75,169 Shariah-compliant collective investment schemes (Note 7) 41,618,816

-

41,618,816

Amount due from the PRS Provider (Note 9) -

488,319

488,319

41,618,816

563,488

42,182,304

2016

Cash and cash equivalents (Shariah-compliant) (Note 8) -

33,152

33,152

Shariah-compliant collective investment schemes (Note 7) 26,819,838

-

26,819,838

Amount due from the PRS Provider (Note 9)

-

402,937

402,937

26,819,838

436,089

27,255,927

All current liabilities are financial liabilities which are carried at amortised cost.

The investment objective of the Fund is to provide capital growth over the long-term by investing in a portfolio of primarily Shariah-compliant equities with some exposure in Sukuk. The Fund is exposed to a variety of risks which include market risk (inclusive of price risk), credit risk and liquidity risk. Financial risk management is carried out through internal control process adopted by the PRS Provider and adherence to the investment restrictions as stipulated in the Deeds and SC Guidelines on PRS.

31



(CONTINUED) (a) Market risk

(i) Price risk This is the risk that the fair value of an investment in Shariah-compliant collective investment schemes will fluctuate because of changes in market prices. The value of investments in Shariah-compliant collective investment schemes 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 collective investment schemes and other financial instruments within specified limits according to the Deeds.

The Fund’s overall exposure to price risk was as follows:

2017

RM

2016 RM

Financial assets at fair value through profit or loss: - Shariah-compliant collective investment schemes 41,618,816 26,819,838

The table below summarises the sensitivity of the Fund’s profit or loss and NAV to movements in prices of Shariah-compliant collective investment schemes at the end of each reporting year. The analysis is based on the assumptions that the price of the Shariah-compliant collective investment schemes fluctuated by 5% with all other variables held constant. This represents the PRS Provider’s best estimate of a reasonable possible shift in the Shariah-compliant collective investment schemes, having regard to the historical volatility of the prices.

% Change in price of Shariah-compliant collective investment

schemes

Market value

Impact on profit or loss/NAV

RM

RM

2017

-5%

39,537,875

(2,080,941)

0%

41,618,816

-

5%

43,699,757

2,080,941

2016

-5%

25,478,846

(1,340,992)

0%

26,819,838

-

5%

28,160,830

1,340,992

32


3. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

(b) Credit risk

Credit risk refers to the risk that a counter party 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 PRS Provider in relation to creation units, the settlement terms of the proceeds from the creation of units receivables from the PRS Provider are governed by the SC Guidelines on PRS. The following table sets out the credit risk concentration of the Fund at the end of each reporting year:

All financial assets of the Fund as at the end of each financial year are neither past due nor impaired.

Cash and cash

equivalents

Amount due from the

PRS Provider

Total

RM RM RM

2017

Finance

- Deutsche Bank (Malaysia) Bhd (AA1) 75,169 - 75,169

Others - Not Rated - 488,319 488,319

75,169 488,319 563,488

2016

Finance

- Deutsche Bank (Malaysia) Bhd (AA1) 33,152 - 33,152

Others - Not Rated

- 402,937 402,937

33,152 402,937 436,089

33



(CONTINUED)

(c) Liquidity risk Liquidity risk is the risk that the Fund will encounter difficulty in meeting its financial obligations. The PRS Provider manages this risk by maintaining sufficient level of liquid assets to meet anticipated payments and cancellations of the units by members. Liquid assets comprise bank balance and other instruments, which are capable of being converted into cash within 7 business days. The Fund’s investment in Shariah-compliant collective investment schemes are realisable which are capable of being converted into cash within 10 business days. This is expected to reduce the risks for the entire portfolio without limiting the Fund’s growth potentials.

The table below summarises the Fund’s financial liabilities into relevant maturity groupings based on the remaining period as at the statement of financial position date to the contractual maturity date. The amounts in the following table are the contractual undiscounted cash flows.

Less than

1 month

Between 1 month to 1 year

Total RM RM RM

2017 Amount due to the PRS Provider (Note 9) 74,014 - 74,014 Other payables and accruals 2,965 14,800 17,765 Net assets attributable to members* 42,090,581 - 42,090,581

Contractual undiscounted cash flows 42,167,260 14,800 42,182,360

2016 Amount due to the PRS Provider (Note 9) 64,102

-

64,102

Other payables and accruals 1,896 13,632 15,528 Net assets attributable to members* 27,177,310 - 27,177,310

Contractual undiscounted cash flows 27,243,308 13,632 27,256,940

* Outstanding units are redeemed on demand at the member’s option. However,

the PRS Provider does not envisage that the contractual maturity disclosed in the table above will be representative of the actual cash outflows, as members of these instruments typically retain them for the medium to long term.

34



(CONTINUED) (d) Capital risk management

The capital of the Fund is represented by equity consisting of net assets attributable to members of RM42,090,581 (2016: RM27,177,310). The amount of capital can change significantly on a daily basis as the Fund is subjected to daily subscriptions and redemptions at the discretion of members. 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 members and benefits for other stakeholders and to maintain a strong capital base to support the development of the investment activities of the Fund.

(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 values of financial assets traded in active markets (such as trading securities) are based on quoted market prices at the close of trading on the financial year end date. The Fund utilises the last traded market price for financial assets where the last traded price falls within the bid-ask spread. In circumstances where the last traded price is not within the bid-ask spread, the PRS Provider 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 on-going 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.

35



(CONTINUED)

(e) Fair value estimation (continued) (i) Fair value hierarchy (continued)

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. Level 1 Level 2 Level 3 Total

RM RM RM RM

2017

Financial assets at fair value through

profit or loss:

- Shariah-compliant collective investment schemes 41,618,816

-

-

41,618,816

2016

Financial assets at fair value through

profit or loss:

- Shariah-compliant collective investment schemes 26,819,838

-

-

26,819,838

Investments whose values are based on quoted market prices in active markets, and are therefore classified within Level 1, include Shariah-compliant collective investment schemes. 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 the PRS Provider and all current liabilities are a reasonable approximation of their fair values due to their short-term nature.

36


4. MANAGEMENT FEE AND PRIVATE PENSION ADMINISTRATOR’S FEE

In accordance with the Deeds, the PRS Provider is entitled to a maximum management fee of 3.00% per annum for each unit class, calculated daily based on the NAV of the Fund.

For the financial year ended 31 August 2017 and 31 August 2016, the management fee for the respective classes is recognised at the following rates:

Class A Class C Class X

1.40% 1.50% 1.40%

Nonetheless, no management fee is charged on the Fund for the financial year as the management fee has been waived by the PRS Provider. The Private Pension Administrator’s fee is recognised at a rate of 0.04% per annum (2016: 0.04% per annum) for each unit class, calculated daily based on the NAV of the Fund. There will be no further liability in respect of management fee, and Private Pension Administrator’s fee other than the amount recognised above.

5. TRUSTEE’S FEE

In accordance with the Deeds, the Trustee is entitled to a maximum fee of 0.04% per annum for each unit class calculated daily based on the NAV of the Fund. The Trustee's fee includes local custodian fee but excludes foreign sub-custodian fees. For the financial year ended 31 August 2017, the Trustee’s fee is recognised at a rate of 0.04% per annum (2016: 0.04% 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

2017

2016

RM

RM

Tax charged for the financial year: - Current taxation -

-

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

2017

2016

RM

RM

Profit before taxation 3,877,485

918,829

Taxation at Malaysian statutory rate of 24% (2016: 24%) 930,596

220,519

Tax effects of: - Investment income not subject to tax (943,924)

(228,691)

- Expenses not deductible for tax purposes 10,834

5,786

- Restriction on tax deductible expenses for PRS Funds 2,494

2,386

Taxation -

-

37


7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

2017

2016

RM

RM

Designated at fair value through profit or loss at inception: - Shariah-compliant collective investment schemes 41,618,816

26,819,838

Net gain on financial assets at fair value through profit

or loss: - Realised gain on disposals 669,247

54,161

- Unrealised fair value gain 2,212,091

244,556

2,881,338

298,717

Name of counter Quantity

Aggregate Cost

Market Value

Percentage of NAV

Units

RM

RM

%

2017 SHARIAH-COMPLIANT

COLLECTIVE INVESTMENT SCHEMES

CIMB Islamic Al Azzam Equity Fund

31,595,935

8,881,611

9,339,758

22.19

CIMB Islamic Asia Pacific Equity Fund

9,962,337

6,999,225

8,513,813

20.23

CIMB Islamic Dali Asia Pacific Equity Growth Fund 6,377,127

5,403,863

6,270,629

14.90

CIMB Islamic Enhanced Sukuk Fund

5,726,633

5,969,466

5,885,261

13.98

CIMB Islamic Equity Aggressive Fund

4,975,398

3,716,000

3,907,677

9.28

CIMB Islamic Sukuk Fund 5,982,815

7,813,712

7,701,678

18.30

TOTAL SHARIAH- COMPLIANT COLLECTIVE

INVESTMENT SCHEMES 64,620,245

38,783,877

41,618,816

98.88

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

2,834,939

TOTAL FINANCIAL ASSETS

AT FAIR VALUE THROUGH PROFIT OR LOSS

41,618,816

38


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

Name of counter Quantity

Aggregate Cost

Market Value

Percentage of NAV

Units

RM

RM

%

2016 SHARIAH-COMPLIANT

COLLECTIVE INVESTMENT SCHEMES

CIMB Islamic Asia Pacific Equity Fund 10,913,657

7,426,759

8,073,924

29.71

CIMB Islamic DALI Asia Pacific Equity Growth Fund 12,516,973

10,520,414

10,548,053

38.81

CIMB Islamic Enhanced Sukuk Fund 4,007,639

4,196,615

4,158,326

15.30

CIMB Islamic Sukuk Fund 3,081,498

4,053,202

4,039,535

14.86

TOTAL SHARIAH- COMPLIANT COLLECTIVE

INVESTMENT SCHEMES 30,519,767

26,196,990

26,819,838

98.68

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

622,848

TOTAL FINANCIAL ASSETS

AT FAIR VALUE THROUGH PROFIT OR LOSS

26,819,838

8. CASH AND CASH EQUIVALENTS

2017

2016

RM

RM

Bank balance 75,169

33,152

9. AMOUNT DUE FROM/TO THE PRS PROVIDER

2017

2016

RM

RM

Amount due from the PRS Provider: - Creation of units 488,319

402,937

Amount due to the PRS Provider: - Cancellation of units 54,014

4,102

- Purchase of Shariah-compliant collective investment schemes 20,000

60,000

74,014

64,102

39


10. NUMBER OF UNITS IN CIRCULATION (UNITS)

2017

2016

No. of units

No. of units

Class A (i) 28,990,175

21,685,144

Class C (ii) 2,520,426

1,756,411

Class X (iiii) 31,449,076

21,864,801

62,959,677

45,306,356

(i) Class A

2017

2016

No. of units

No. of units

At the beginning of the financial year 21,685,144

15,808,828

Add : Creation of units from applications 8,908,865

7,162,576

Less: Cancellation of units (1,603,834)

(1,286,260)

At the end of the financial year 28,990,175

21,685,144

(ii) Class C

2017

2016

No. of units

No. of units


1,183,125

Add : Creation of units from applications 924,624

670,983

Less: Cancellation of units (160,609)

(97,697)


1,756,411

(iii) Class X

2017

2016

No. of units

No. of units


13,329,385

Add : Creation of units from applications 11,663,431

10,575,848

Less: Cancellation of units (2,079,156)

(2,040,432)


21,864,801

40


11. MANAGEMENT EXPENSE RATIO (“MER”)

2017 2016 % %

MER 0.16 0.16

MER is derived based on the following calculation: MER = (A + B + C + D + E) x 100 F

A = Private Pension Administrator’s fee B = Trustee’s fee C = Audit fee D = Tax agent’s fee E = Other expenses F = Average NAV of the Fund calculated on a daily basis The average NAV of the Fund for the financial year calculated on a daily basis is RM33,976,352 (2016: RM21,563,137).

12. PORTFOLIO TURNOVER RATIO (“PTR”)

2017 2016

PTR (times) 0.55 0.39

PTR is derived from the following calculation:

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

where: total acquisition for the financial year = RM24,134,000 (2016: RM12,751,803) total disposal for the financial year = RM13,268,000 (2016: RM4,084,180)

13. UNITS HELD BY THE PRS PROVIDER AND PARTIES RELATED TO THE PRS

PROVIDER, AND SIGNIFICANT RELATED PARTIES TRANSACTIONS AND BALANCES The related parties and their relationship with the Fund are as follows: Related parties Relationship CIMB-Principal Asset Management Bhd The PRS Provider

CIMB Group Sdn Bhd Holding company of the PRS Provider

CIMB Group Holdings Bhd (“CIMB”) Ultimate holding company of the PRS Provider

Subsidiaries and associates of CIMB as Fellow related party to the PRS Provider disclosed in its financial statements

41


13. UNITS HELD BY THE PRS PROVIDER AND PARTIES RELATED TO THE PRS

PROVIDER, AND SIGNIFICANT RELATED PARTIES TRANSACTIONS AND BALANCES (CONTINUED) Units held by the PRS Provider and parties related to the PRS Provider There were no units held by the PRS Provider, Directors or parties related to the PRS Provider as at the end of each financial year.

In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions and balances. The PRS Provider 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. 2017 2016 RM RM Significant related party transactions Dividend income from Shariah-compliant collective

investment schemes managed by the PRS Provider

1,051,679

654,163

Purchase of Shariah-compliant collective investment

schemes managed by the PRS Provider

24,134,000 12,751,803

Disposal of Shariah-compliant collective investment

schemes managed by the PRS Provider

13,268,000

4,084,180

Significant related party balances Shariah-compliant collective investment schemes

managed by the PRS Provider:

- CIMB Islamic Al Azzam Equity Fund 9,339,758 -

- CIMB Islamic Asia Pacific Equity Fund 8,513,813 8,073,924

- CIMB Islamic Equity Aggressive Fund 3,907,677 - CIMB Islamic DALI Asia Pacific Equity Growth Fund 6,270,629 10,548,053

- CIMB Islamic Enhanced Sukuk Fund 5,885,261 4,158,326

- CIMB Islamic Sukuk Fund 7,701,678 4,039,535

41,618,816 26,819,838

42


14. TRANSACTIONS WITH BROKERS/DEALERS/FINANCIAL INSTITUTIONS

Details of transactions with the brokers/dealers/financial institutions for the financial year ended 31 August 2017 are as follows: Brokers/Dealers/Financial Institutions

Value of trades

Percentage

of total trades

Brokerage fees

Percentage of total

brokerage fees

RM % RM % CIMB-Principal Asset Management Bhd # 37,402,000

100.00

-

-

Details of transactions with the brokers/dealers/financial institutions for the financial year ended 31 August 2016 are as follows:

Brokers/Dealers/Financial Institutions

Value of trades

Percentage

of total trades

Brokerage fees

Percentage of total

brokerage fees

RM % RM % CIMB-Principal Asset Management Bhd # 16,835,983

100.00

-

-

# Included in transactions are trades conducted with CIMB-Principal Asset Management

Berhad, the PRS Provider of the Fund, amounting to RM37,402,000 (2016: RM16,835,983). The PRS Provider is of the opinion that all transactions have been entered into in the normal course of business at agreed terms between the related parties.

15. 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 investment objective of the Fund is to provide capital growth over the long-term by investing in a portfolio of primarily Shariah-compliant equities with some exposure in Sukuk. 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 dividend income earned from Shariah-compliant investments and gains on the appreciation in the value of investments, which are derived from Malaysia domiciled Shariah-compliant collective investment schemes.

There were no changes in reportable operating segment during the financial year.

16. APPROVAL OF FINANCIAL STATEMENTS The financial statements have been approved for issue by the PRS Provider on 27 October 2017.

43


DIRECTORY Head office of the PRS Provider 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 PRS Plus Growth Deutsche Trustees Malaysia Berhad (Company No.: 763590-H) Level 20 Menara IMC, 8 Jalan Sultan Ismail, 50250 Kuala Lumpur, MALAYSIA. Tel: (03) 2053 7522 Fax: (03) 2053 7526 Shariah Adviser of the CIMB Islamic PRS Plus Growth 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 Auditors of the Fund and of the PRS Provider PricewaterhouseCoopers (Company No. AF: 1146) Level 10, 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, PO Box 10192, 50706 Kuala Lumpur, MALAYSIA. Tel: (03) 2173 1188 Fax: (03) 2173 1288

http://www.cimb-principal.com.my/

mailto:[email protected]

44


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

Northern Region No 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 No 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, No 298-B, Jalan Tok Hakim, 15000 Kota Bharu, Kelantan.

09-747 1172 09-747 1190

Ampang No 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 No. 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

Charisma Legacy

B-1-22 & B-2-22 & B-2-21, Block B 10 Boulevard, Jalan Cempaka Sungai Kayu Ara, 47400 Petaling Jaya, Selangor.

03-7722 3895

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

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

03-7725 6320

Preferred Wealth Advisors

No 12-01, D’Bayu Business Centre, Jalan Serambi U8/24, Bukit Jelutong, 40150 Shah Alam, Selangor.

03-6142 8382

Otye Xcellence Consultants

Lot No 35-2, 2nd Floor, Jalan Sepah Puteri 5/1B, Pusat Dagangan Seri Utama, PJU 5 Kota Damansara, 47410 Petaling Jaya, Selangor.

03-6140 3046

Elite Group Consultants

No 6-2, Jalan Dagang 1/1A, Taman Dagang, 68000 Ampang, Selangor.

03-4251 1129

Prestige Wealth Advisors

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

03-6140 7275

Magnificent Champion Agency Office

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

03-5523 2693

Diamond Star Agency Office

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

03-7880 7082

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

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

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

Dynamics Wealth Advisors

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

03-4256 6277

46



ADDRESS TELEPHONE SALES OFFICES - Klang Valley (Continued)

My Financial Freedom Advisors

No. 3A, Jalan Hentian 3, Pusat Hentian Kajang, 43000 Kajang, Selangor.

03-8741 4382

Success Concepts Life Planners

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

03-6204 0113

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

03-6142 2970

Monalisa Private Wealth Advisors

No 41B, 43B, Jalan Wan Kadir 2, Taman Tun Dr Ismail, 60000 Kuala Lumpur.

03-7724 1789

SA-7

No 35B-2 (2nd Floor), Jalan Keluli Am 7/Am, Pusat Perniagaan Bukit Raja, Seksyen 7, 40000 Shah Alam, Selangor.

03-3341 4978

Tremendous Agency

No 65-2, Jalan Nelayan A, 19/A Pusat Daerah Seksyen 19, 40300 Shah Alam, Selangor.

03-5480 0296

The One Asia Advisors

No B-3A-23, Merchant Square, Jalan Tropicana Selatan 1, Tropicana Golf & Country Resort, 47410 Petaling Jaya, Selangor.

03-7887 4408

Wealth Resources Group Advisors

No 41B, 3B Curve Business Park, Medan Pusat Bandar 2D, Seksyen 9, 43650 Bandar Baru Bangi, Selangor.

03-8926 4155

Evoque Wealth Advisors

2nd Floor No 32A-2, Jalan PJU 5/20D, The Strand, Pusat Perdagangan Kota Damansara, Kota Damansara PJU 5, 47810 Petaling Jaya, Selangor.

03-6151 9512

KPG Management Resources

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

03-6021 7385

Emmaz Wealth Empire

No 17-2, Jalan Rampai Maju 1, Taman Sri Rampai, 53300 Kuala Lumpur.

03-4141 7574

Fidelis Wealth Advisors

No 70-2, Jalan Tasik Utama 7, Medan Niaga Tasik Damai, The Trillium Lake Fields, 57000 Sungai Besi, Kuala Lumpur.

03-9054 8596

Charisma Legacy 1 B-3-21, Block Bougainvellea 10, Boulevard Lebuhraya Sprint PJU 6A, 47400 Petaling Jaya, Selangor.

03-7733 5009

KPG Capital Growth Solution

No 15-1, Jalan Adenium 2G/9, Adenium Business Centre, 48300 Bukit Beruntung, 48300 Rawang, Selangor.

03-6021 7188

47



ADDRESS TELEPHONE SALES OFFICES - Klang Valley (Continued)

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

NRICH Wealth Advisory Group

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

03-8074 8485

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

03-7733 4211

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

Charisma Legacy 2 B-3-25, Block Bougainvillea, 10 Boulevard Lebuhraya Sprint, PJU 6A, 47400 Petaling Jaya, Selangor.

03-7733 2460

Charisma Legacy Sepang

32A, 1st Floor Jalan Gemilang 1, Pusat Perniagaan Gemilang, Sepang, 47300 Selangor.

03-8705 3240

SALES OFFICES - Northern

Charisma Legacy Kota Bharu

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

016-223 6343

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

09-747 6932

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

09-858 9911

Amg Synergy Multiresources Sdn Bhd

No 50, Tingkat 1, Jalan Putra Square 1, Malay Town, 25200 Kuantan, Pahang.

09-516 1430

48



ADDRESS TELEPHONE SALES OFFICES - Southern

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

GVG Pasir Gudang Solution

No 38-01, Jalan Serangkai 18, Taman Bukit Dahlia, 81700 Pasir Gudang, Johor.

012-707 6107

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

011-121 1840

Soha Barakah Wealth Consultancy

No 55-2, 57-2, 59-2, Jalan TU 49A, Taman Tasik Utama, Ayer Keroh, 75450, Melaka.

06-2533 289

Premier Wealth Advisors

No 18-1, Jalan S2 B18, Biz Avenue Seremban 2, 70300 Seremban, Negeri Sembilan.

06-601 5749

PremierOne Wealth

No 527-1, Jalan Pusat Bandar Senawang, Pusat Bandar Senawang, 70450 Senawang, Negeri Sembilan.

06-671 8253

SALES OFFICES - East Malaysia

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

JAT XO Group Bintulu

Shop Lot No 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

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