Table of Contents 1 158

Al-`Aqar Healthcare REIT Annual Report 2018

Annual Report 2018 AlAqar Healthcare REIT (PART 1) 1
2018 HIGHLIGHTS 4
OBJECTIVE, POLICY AND STRATEGIES 5
CORPORATE PROFILE 6
CORPORATE INFORMATION 7
LETTER TO STAKEHOLDERS 9
SALIENT FEATURES 11
5 YEARS’ FINANCIAL PERFORMANCE 12
TRADING PERFORMANCE 14
ANALYSIS OF UNIT HOLDINGS 16
TRUST STRUCTURE 19
ORGANISATION STRUCTURE 20
THE BOARD OF DIRECTORS PROFILE 21
THE SHARIAH COMMITTEE PROFILE 27
THE MANAGEMENT 29
MANAGEMENT DISCUSSION & ANALYSIS 32
INVESTOR AND PUBLIC RELATIONS 43
MARKET REPORT SUMMARY 45
PORTFOLIO SUMMARY AND DETAILS 49
SUSTAINABILITY STATEMENT 62
BOARD CHARTER 72
CORPORATE GOVERNANCE STATEMENT 77
AUDIT COMMITTEE REPORT 83
STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL 85
Annual Report 2018 AlAqar Healthcare REIT (PART 2) 90
MANAGER’S REPORT 91
INDEPENDENT AUDITORS’ REPORT TO THEUNITHOLDERS OF AL-`AQAR HEALTHCARE REIT 96
STATEMENTS OF COMPREHENSIVE INCOME 99
STATEMENTS OF FINANCIAL POSITION 101
STATEMENTS OF CHANGES IN NET ASSET VALUE 102
STATEMENTS OF CASH FLOWS 103
NOTES TO THE FINANCIAL STATEMENTS 105
CORPORATE INFORMATION 105
BASIS OF PREPARATION OF FINANCIAL STATEMENTS 106
SIGNIFICANT ACCOUNTING POLICIES 107
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY 123
REVENUE 124
PROPERTY EXPENSES 125
INVESTMENT REVENUE 125
TAX 126
EARNINGS PER UNIT 127
NET INCOME DISTRIBUTIONS 128
INVESTMENT PROPERTIES 129
INVESTMENT IN SUBSIDIARIES 131
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAID EXPENSES 132
CASH AND CASH EQUIVALENTS 133
OTHER PAYABLES AND ACCRUED EXPENSES 134
DEFERRED TAX LIABILITIES 135
ISLAMIC FINANCING 136
UNITHOLDERS’ CAPITAL 140
MANAGEMENT EXPENSE RATIO (“MER”) 140
SIGNIFICANT RELATED PARTY TRANSACTIONS 141
COMMITMENTS 141
FINANCIAL INSTRUMENTS 142
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 144
SEGMENT REPORTING 148
CAPITAL MANAGEMENT 150
PORTFOLIO TURNOVER RATIO (“PTR”) 150
SIGNIFICANT EVENT 150
ADOPTION OF MFRS 9 AND MFRS 15 151
STATEMENT BY THE DIRECTORS OF THE MANAGERTO THE UNITHOLDERS OF AL-`AQAR HEALTHCARE REIT 154
DECLARATION BY THE DIRECTOR OF THE MANAGER PRIMARILYRESPONSIBLE FOR THE FINANCIAL MANAGEMENT OF THE FUND 155
SHARIAH COMMITTEE REPORTTO THE UNITHOLDERS OF AL-`AQAR HEALTHCARE REIT 156
TRUSTEE’S REPORT 157

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