Summary REIT by Mustafa

MK Mustafa Sdn Bhd does not itself need to be a listed company on Bursa Malaysia to qualify for setting up a REIT. Instead, the following structure and requirements apply:

• A REIT is established as a trust, not as a listed company. The REIT itself is the entity that is listed on Bursa Malaysia, not the property holding company (such as MK Mustafa Sdn Bhd)

• Management Company: The REIT must be managed by a management company that is a Malaysian-incorporated public company, which meets specific regulatory and capital requirements

• Asset Injection: MK Mustafa Sdn Bhd (as the property owner) can inject its qualifying real estate assets into the REIT. The REIT, once established and approved by the Securities Commission Malaysia (SC), becomes the listed entity holding these assets

• Listing Requirements: The REIT must meet the minimum fund size (RM 500 million), public spread (at least 25% of units held by the public), and other regulatory requirements to be listed on Bursa Malaysia

• Approval Process: All REITs seeking listing require SC approval under the Capital Markets and Services Act 2007

Summary Table:

Entity	Listing Requirement	Role in REIT Structure
MK Mustafa Sdn Bhd	Not required	Property owner; can sell/inject assets into the REIT
REIT (the trust)	Must be listed	Holds assets, issues units to investors on Bursa Malaysia
REIT Management Company	Not required	Must be a Malaysian-incorporated public company5

In conclusion:
MK Mustafa Sdn Bhd does not need to be listed. The REIT itself is the listed entity, and MK Mustafa Sdn Bhd can participate by injecting assets into the REIT structure, subject to regulatory approvals and compliance with REIT listing guidelines

Christine