FINANCIAL STATEMENT & OTHER INFORMATION SECTION 5 161 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 Al-`Aqar Healthcare REIT | Annual Report 2024 2. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICIES (CONT’D) 2.1 Basis of preparation(Cont’d) As at reporting date, the management has secured a new facility valued at RM360,000,000 for a duration of 18 months, starting from March 2025. Of this amount, RM110,000,000 will be used to fully settle the existing Commodity Murabahah Term Financing-i facilities. 2.2 Changes in accounting policies The accounting policies adopted are consistent with those of the previous financial year, except in the current period, the Group and the Fund adopted the following new and amended MFRS Accounting Standards mandatory for annual financial periods beginning on or after 1 January 2024: Description Effective for annual periods beginning on or after Amendments to MFRS 101: Classification of Liabilities as Current or Non Current 1 January 2024 Amendments to MFRS 16: Lease Liability in a Sale and Leaseback 1 January 2024 Amendments to MFRS 101: Non-current Liabilities with Covenants 1 January 2024 Amendments to MFRS 107 and MFRS 7: Supplier Finance Arrangements 1 January 2024 The adoption of the above new and amended MFRS Accounting Standards did not have any significant financial impact to the Group and the Fund. 2.3 Standards and interpretations issued but not yet effective The standards and interpretations that are issued but not yet effective are disclosed below. The Group and the Fund intend to adopt these standards, if applicable, when they become effective. Description Effective for annual periods beginning on or after Amendments to MFRS 121: Lack of Exchangeability 1 January 2025 Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards 1 January 2026 Amendments to MFRS 7 Financial Instruments: Disclosures 1 January 2026 Amendments to MFRS 9 Financial Instruments 1 January 2026 Amendments to MFRS 10 Consolidated Financial Statements 1 January 2026 Amendments to MFRS 107 Statement of Cash Flows 1 January 2026 MFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 MFRS 19 Subsidiaries without Public Accountability: Disclosure 1 January 2027 Amendments to MFRS 10 and MFRS 128: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred The Group and the Fund expect that the adoption of the above standards and interpretations will have no material impact on the financial statements in the period of application.
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