SUSTAINABILITY STATEMENT Robust Corporate Governance (cont’d) Sustainable Trust Fund RISK MANAGEMENT (CONT’D) To manage and adapt to the risks posed by the pandemic, the Manager has implemented various business continuity measures, particularly in relation to digital transformation. FINANCIAL PERFORMANCE The unprecedented COVID-19 pandemic has impacted most industries. As a healthcare REIT, the main financial challenge the Fund’s tenants faced was a reduction in hospital inpatient activity due to factors such as the nationwide lockdowns and quarantining, reorganisation of hospital operations, and the rationing of medical workforce. However, healthcare demand at tenants’ facilities has been increasing due to greater relaxation of restrictions, better economic conditions, and public-private partnership with the government since the middle of 2021. Tomanage thefinancial impacts of thepandemic, the Fundembarkedoncost cuttingmeasures including freeze on hiring across the Manager. It also received financial assistance from the government through the Perlindungan Ekonomi & Rakyat Malaysia (“PERMAI”) Assistance Package. With this package, the Fund received a special tax deduction for providing at least 30% rental discounts to tenants. As a result of these initiatives, the Fund generated a total of RM114,072,501 in revenue despite market conditions, and retained a total of RM72,781,553. STRATEGY TRANSFORMATION DIGITAL IT disaster recovery plan, drills and data recovery tests Utilisation of VPNs to protect network connections Usage of Microsoft 365 cloud storage Installation of Acronis as a data backup AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2021 090
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