Table of Contents 1 168

Al-`Aqar Healthcare REIT Annual Report 2019

ALAQAR Annual Report 2019 1
The Contents 2
Corporate Overview 4
Corporate Profile 5
Objective,Policy & Strategies 6
Corporate Information 7
Letter to Stakeholders 9
Salient Features 11
5 Years’ Financial Performance 12
Trading Performance 14
Analysis of Unitholdings 17
Driving Force 20
Trust Structure 21
Organisation Structure 22
The Board of Directors’ Profile 23
The Shariah Committee’s Profile 32
The Management 35
Strategic Performance 38
Management Discussion & Analysis 39
Investor & Public Relations 51
Market Report Summary 53
Portfolio Summary & Details 57
Sustainability Report 70
About This Report 71
Sustainable REIT 71
GOVERNANCE AND ACCOUNTABILITY 73
ENGAGING STAKEHOLDERS 73
MATERIALITY ASSESSMENT 74
SUSTAINABILITY PILLARS 75
GOVERNANCE 75
PEOPLE 76
PARTNER 77
Essence of Corporate Governance 78
Board Charter 79
Corporate Governance Statement 86
Audit Committee Report 91
Statement on Risk Management & Internal Control 93
Financial Reports 98
Manager’s Report 99
Independent Auditors’ Report 105
Statements Of Comprehensive Income 109
Statements Of Financial Position 111
Statements Of Changes In Net Asset Value 113
Statements Of Cash Flows 115
Notes To The Financial Statements 117
CORPORATE INFORMATION 117
BASIS OF PREPARATION OF FINANCIAL STATEMENTS 118
SIGNIFICANT ACCOUNTING POLICIES 120
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY 133
REVENUE 135
PROPERTY EXPENSES 136
INVESTMENT REVENUE 136
TAX 136
EARNINGS PER UNIT 138
NET INCOME DISTRIBUTIONS 138
INVESTMENT PROPERTIES 139
INVESTMENT IN SUBSIDIARIES 143
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAID EXPENSES 144
CASH AND CASH EQUIVALENTS 145
OTHER PAYABLES AND ACCRUED EXPENSES 146
DEFERRED TAX LIABILITIES 147
ISLAMIC FINANCING 147
UNITHOLDERS’ CAPITAL 151
MANAGEMENT EXPENSE RATIO (“MER”) 153
SIGNIFICANT RELATED PARTY TRANSACTIONS 153
COMMITMENTS 154
FINANCIAL INSTRUMENTS 154
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 155
SEGMENT REPORTING 161
CAPITAL MANAGEMENT 162
PORTFOLIO TURNOVER RATIO (“PTR”) 163
SIGNIFICANT EVENT 163
Statement By The Directors Of The Manager 164
Declaration By The Director Of The Manager 165
Shariah Committee Report 166
Trustee’s Report 167

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