Table of Contents 1 144

Al-'Aqar Healthcare REIT Annual Report 2017

2017 HIGHLIGHTS 5
OBJECTIVE, POLICY AND STRATEGIES 6
CORPORATE PROFILE 7
CORPORATE INFORMATION 8
LETTER TO STAKEHOLDERS 10
SALIENT FEATURES 14
5 YEARS’ FINANCIAL PERFORMANCE 15
TRADING PERFORMANCE 17
ANALYSIS OF UNIT HOLDINGS 19
TRUST STRUCTURE 22
ORGANISATION STRUCTURE 23
THE BOARD OF DIRECTORS 24
THE SHARIAH COMMITTEE 31
THE MANAGEMENT 34
MANAGEMENT DISCUSSION & ANALYSIS 37
INVESTOR AND PUBLIC RELATIONS 48
MARKET REPORT SUMMARY 50
PORTFOLIO DETAILS 54
SUSTAINABILITY STATEMENT 67
BOARD CHARTER 78
CORPORATE GOVERNANCE STATEMENT 83
AUDIT COMMITTEE REPORT 89
STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL 91
MANAGER’S REPORT 94
INDEPENDENT AUDITORS’ REPORT 98
STATEMENTS OF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOME 101
STATEMENTS OF FINANCIAL POSITION 102
STATEMENTS OF CHANGES IN NET ASSET VALUE 103
STATEMENTS OF CASH FLOWS 104
NOTES TO THE FINANCIAL STATEMENTS 106
CORPORATE INFORMATION 106
BASIS OF PREPARATION OF FINANCIAL STATEMENTS 107
SIGNIFICANT ACCOUNTING POLICIES 109
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY 119
REVENUE 119
PROPERTY EXPENSES 120
INVESTMENTS REVENUE 120
INCOME TAX EXPENSE 120
EARNINGS PER UNIT 121
NET INCOME DISTRIBUTIONS 122
INVESTMENT PROPERTIES 123
INVESTMENT IN SUBSIDIARIES 126
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAID EXPENSES 126
CASH AND CASH EQUIVALENTS 127
ASSET CLASSIFIED AS HELD-FOR-SALE 127
OTHER PAYABLES AND ACCRUED EXPENSES 128
DEFERRED TAX LIABILITIES 128
ISLAMIC FINANCING 129
UNITHOLDERS’ CAPITAL 131
MANAGEMENT EXPENSE RATIO (“MER”) 132
SIGNIFICANT RELATED PARTY TRANSACTIONS 132
COMMITMENTS 132
FAIR VALUES OF FINANCIAL INSTRUMENTS 133
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 133
SEGMENT REPORTING 137
CAPITAL MANAGEMENT 138
PORTFOLIO TURNOVER RATIO (“PTR”) 139
SIGNIFICANT EVENT 139
STATEMENT BY THE DIRECTORS OF THE MANAGER 140
DECLARATION BY THE DIRECTOR OF THE MANAGER 141
SHARIAH COMMITTEE REPORT 142
TRUSTEE’S REPORT 143

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