Table of Contents 1 172

AL-SALAM REIT ANNUAL REPORT 2018

ALSREIT Annual Report 2018 1
The Contents 2
Corporate Overview 3
Highlights & Insights 5
Policy, Objective & Strategies 6
Corporate Profile 8
Corporate Information 9
Letter To Stakeholders 11
Salient Features 13
Financial Performance 14
Trading Performance 15
Corporate Structure & Leadership 17
Trust Structure 19
Organisation Structure 20
Board Of Directors 21
Shariah Committee 27
Management profile 29
Management Discussion & Analysis 31
Financial & Business Review 33
Operational Review 37
Capital Management 45
Risk Management 46
Investor And Public Relations 47
Market Report Summary 49
Summary of Investment Portfolio 52
Sustainability Report 65
About This Report 67
Our Journey Towards A Sustainable REIT 68
Governance And Accountability 69
Materiality Assessment 70
Sustainability Pillars 70
Governance 71
Environment 72
People 73
Partner 75
Corporate Social Investment 76
Corporate Governance 77
Board Charter 79
Corporate Governance Statement 85
Audit Committee Report 90
Statement On Risk Management & Internal Control 92
Financial Reports 97
MANAGER’S REPORT 99
Independent Auditors’ Report 104
Statements Of Profit Or Loss 108
Statements Of Financial Position 110
Statements Of Changes In Equity 112
Statements Of Cash Flows 113
Notes To The Financial Statements 115
CORPORATE INFORMATION 115
BASIS OF PREPARATION OF FINANCIAL STATEMENTS 116
SIGNIFICANT ACCOUNTING POLICIES 118
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY 132
GROSS RENTAL INCOME 133
OTHER INCOME 133
INVESTMENT INCOME 133
INCOME TAX 133
EARNINGS PER UNIT 134
NET INCOME DISTRIBUTION 134
INVESTMENT PROPERTIES 135
INVESTMENT IN SUBSIDIARY 142
EQUIPMENT 142
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAID EXPENSES 143
CASH AND CASH EQUIVALENTS 144
OTHER PAYABLES AND ACCRUED EXPENSES 144
ISLAMIC FINANCING 145
UNITHOLDERS’ CAPITAL 147
MANAGEMENT EXPENSE RATIO (“MER”) 148
SIGNIFICANT RELATED PARTY TRANSACTIONS 149
FAIR VALUES OF FINANCIAL INSTRUMENTS 149
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 150
SEGMENT REPORTING 155
CAPITAL MANAGEMENT 162
COMMITMENTS 162
SIGNIFICANT EVENTS 163
ADOPTION OF MFRS 9 AND MFRS 15 163
Statement By The Directors Of The Manager 166
Declaration By The Director Of The Manager 167
Shariah Committee Report 168
Trustee’s Report 169
Analysis Of Unitholdings 170

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