| ALSREIT 2024 |
1 |
| About This Report |
2 |
| About Us |
4 |
| 2024 Highlights |
5 |
| Corporate Profile |
6 |
| Salient Features |
7 |
| Corporate Information |
8 |
| Trust Structure |
9 |
| Organisation Structure |
10 |
| Business Overview |
11 |
| Letter To Stakeholders |
12 |
| 5-Year Financial Performance |
16 |
| Trading Performance |
17 |
| Market Summary Report |
18 |
| Management Discussion and Analysis |
23 |
| Investor Relations Report |
42 |
| Sustainability Statement |
43 |
| Our Statement at A Glance |
44 |
| Progress on Our Path |
44 |
| Our Reporting Scope and Boundary |
44 |
| Reporting Frameworks and Standards |
45 |
| Data Integrity |
45 |
| We Value Your Perspective |
45 |
| Our Sustainability Performance |
46 |
| Our Dynamic Reporting Journey |
47 |
| Key Foundations of Sustainability |
48 |
| Advancing Global Initiatives |
49 |
| Key Measures of ESG Performance |
50 |
| Sustainability Leadership & Accountability |
51 |
| Addresing Stakeholder Needs |
52 |
| Recognising Our Material Sustainability Matters |
54 |
| Integrating Climate Initiatives |
56 |
| Robust Corporate Governance |
59 |
| Sustainability Trust Fund |
63 |
| Strong Social Relationships |
66 |
| Environmental Stewardship |
74 |
| Paving the Way for A Sustainable Future |
77 |
| Performance Data Table |
78 |
| Independent Limited Assurance Report |
81 |
| GRI Content Index |
85 |
| Corprorate Governance |
87 |
| Board of Directors |
88 |
| The Shariah Committee |
98 |
| The Management Team |
101 |
| Corporate Governance Overview Statement |
104 |
| The Board Audit and Risk Committee Report |
116 |
| Board Investment Committee Report |
123 |
| Board Nomination and Remuneration Committee Report |
127 |
| The Board Sustainability Committee Report |
131 |
| Statement on Risk Management and Internal Control |
135 |
| Additional Compliance Information |
153 |
| Shariah Adviser's Report |
155 |
| Trustee's Report |
156 |
| Other Information |
157 |
| Portfolio Summary and Details |
158 |
| Analysis of Unitholdings |
172 |
| Financial Statements |
176 |
| Manager's Report |
177 |
| Statement by the Directors of the Manager |
184 |
| Statutory Declaration |
184 |
| Independent Auditors' Report |
185 |
| Statements of Comprehensive Income |
189 |
| Statements of Financial Position |
191 |
| Statement of Changes in Net Asset Value |
193 |
| Statements of Cash Flows |
194 |
| Notes to the Financial Statements |
196 |
| Corporate information |
196 |
| Basis of preparation and material accounting policies |
197 |
| Significant accounting judgements and estimates |
211 |
| Gross rental income |
212 |
| Other income |
213 |
| Investment income |
213 |
| Tax expense |
213 |
| Earnings per unit |
215 |
| Income distribution |
215 |
| Investment properties |
216 |
| Equipment |
222 |
| Investment in a subsidiary |
222 |
| Trade receivables, other receivables and prepaid expenses |
223 |
| Cash and bank balances |
226 |
| Deferred tax liability |
226 |
| Other payables and accrued expenses |
227 |
| Islamic financing |
228 |
| Unitholders’ capital |
230 |
| Management Expense Ratio (‘MER’) |
231 |
| Significant related party transactions |
232 |
| Fair values of financial instruments |
232 |
| Financial risk management objectives and policies |
234 |
| Segment reporting |
237 |
| Capital management |
242 |
| Commitments |
243 |
| Significant events |
243 |
| Assets classified as held for sale |
244 |