LETTER TO STAKEHOLDERS 2021 AL-`AQAR FINANCIAL PERFORMANCE. The Fund recorded a slightly lower gross revenue of RM114.1 million in FY2021 (FY2020: RM115.7 million). The Group successfully recorded a higher profit at RM73.5 million (FY2020: RM12.6 million); comprising realised profit of RM65.2 million (FY2020: RM57.0 million) and unrealised profit of RM8.3 million (FY2020: unrealised loss of RM44.4 million). Realised profit increased by 14.4% or RM8.2 million in FY2021 mainly due to saving from refinancing exercise during the year. The unrealised gain of RM8.3 million mainly related to fair value adjustment of investment properties. 2021 – A CHALLENGING AND POSITIVE TRANSITION YEAR (CONT’D) 2021 AL-`AQAR INITIATIVES. Despite a challenging year, the Manager managed to sustain their business prospects by transforming the risks into opportunities through an effective and continuous Capital, Investment and Asset Management plan. Capital Management Cost-saving of RM6 million in 2021 and an expected full-year cost saving of RM10 million in 2022 from the refinancing of the principal amount of Issue 2 RM575 million under Al-`Aqar Sukuk Programme. Investment Management The Manager of Al-`Aqar has renewed the 15 years lease tenure of six KPJ Properties, that are contributing 37% of Al-`Aqar’s revenue, in June 2021. Asset Management The Manager has also managed to maintain a 100% occupancy rate for all of their assets leasing out to the lessees during the year. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2021 010
RkJQdWJsaXNoZXIy NDgzMzc=