BUSINESS OVERVIEW 28 Al-`Aqar Healthcare REIT | Annual Report 2024 MANAGEMENT DISCUSSION & ANALYSIS GEARING RATIO Al-`Aqar’s gearing ratio is determined by the proportion of total Islamic financing relative to total asset value, in compliance with the Securities Commission (“SC”) Guidelines. The gearing ratio at the close of the reporting period is as follows: 2023 2024 Total Islamic financing (RM’mil) 757.7 759.1 Total asset value (RM’mil) 1,856.0 1,835.9 Total Islamic financing to total asset value ratio (%) 40.8 41.3 As at 31 December 2024, Al-`Aqar’s gearing ratio stood at 41.3%, providing ample opportunity for future asset acquisitions, and is below the threshold 50% set by the SC. SECTION 3 – CAPITAL REVIEW FIXED RATE VS FLOATING RATE RATIO Floating Rate 100% Fixed Rate 0% DEBT MATURITY PROFILE (RM ‘MILLION) Commodity Murabahah-I 2025 Commodity Murabahah-II 2025 Commodity Murabahah-III (Tranche 1) 2026 Term Financing-i 2027 Commodity Murabahah-III (Tranche 2) 2028 80.0 30.0 280.0 72.0 300.0
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