SUSTAINABILITY STATEMENT Robust Corporate Governance REGULATORY COMPLIANCE Some of the key national laws, regulations and guidelines applicable to the business include but notwithstanding to the following: To ensure the Fund continues to comply with all relevant legal and statutory requirements, the Manager maintains a comprehensive compliance report which presents the requirements of various acts, risk treatment, the Fund’s mitigation plans and risk rating. The Manager also seeks legal advice from professionals, conducts training on legal requirements and requires that internal audits be performed by external consultants to ensure fairness. At REIT-level, it is crucial that tenants abide by the necessary legal requirements and agreements such as the Uniform By-Laws 1984, the Fire Services Act 1988 and the Lease/Tenancy Agreement. To manage this, the Fund conducts monitoring and require periodic updates from the Maintenance Manager through quarterly meetings and reports. To keep abreast with developments in the regulatory landscape, the Board receives regular legal and secretarial updates. Management personnel and the Board are also required to attend talks and seminars whenever necessary. When relevant changes occur, the Manager receives alerts fromBursa Malaysia, the Securities Commission and the Malaysia REIT Association. The initiatives taken to ensure compliance with applicable laws and regulations are communicated internally through management meetings, announcements and briefings, and externally through Annual General Meetings, analyst briefings, Al-`Aqar REIT’s corporate website and annual reports. All queries are directed to a designated person via email. In the year under review, the Fund is pleased to disclose that no incidents of non-compliance have been recorded. CORPORATE GOVERNANCE AND BUSINESS ETHICS Day-to-day processes are governed by internal SOPs which address business development, internal controls, risk management, compliance, IT, talent management, finance and operations. The values, principles and expectations of professional conduct within the Fund are further upheld through the Manager’s Code of Conduct and Business Ethics (the “Code”). The Code contains clear guidelines on how employees and associates are expected to behave, as well as the disciplinary actions in the event of non-compliance. The Code is complimented by other policies such as the Whistleblowing Policy and Anti-Bribery and Anti-Corruption Policy (“ABAC Policy”) and Manual. These policies and procedures are communicated to employees via email, briefings, training sessions and posters. Capital Market Services Act 2007 Main Market Listing Requirements Guidelines on Listed REITs Guidelines on Islamic Fund Management Income Tax Act 1967 EPF Act 1991 Malaysia Code on Corporate Governance (“MCCG”) AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2021 088
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