pg. 283 Financial Statements Integrated Annual Report 2025 NOTES TO THE FINANCIAL STATEMENTS - 31 December 2025 17. Islamic financing (Cont’d) (d) Sukuk Wakalah On 29 August 2025, Al-Salām REIT, through its wholly-owned special purpose vehicle, ALSREIT Capital, lodged a Sukuk Wakalah Programme of up to RM3.0 billion with the Securities Commission Malaysia. On 24 November 2025, ALSREIT Capital issued RM455,000,000 in nominal value of IMTNs pursuant to the Sukuk Wakalah Programme, bearing a profit rate of 3.95% per annum with a tenure of five (5) years. The proceeds were utilised to redeem Sukuk Ijarah Issue 3 amounting to RM455,000,000. The principal is payable on 24 November 2030. The RM455,000,000 issuance (the “Guaranteed Sukuk Wakalah”) is guaranteed by Credit Guarantee and Investment Facility (“CGIF”) and contains financial covenants in which the subsidiary, Al-Salām REIT and its subsidiary shall at all times, maintain the following financial covenants: (i) Finance-to-Asset Ratio is not more than 0.50 times; (ii) FSCR of not less than 1.25 times; and (iii) Security Cover Ratio shall not be less than 1.40 times. The financing is secured by investment properties amounting to RM727,163,365. Revolving credit: As of 31 December 2025, the Fund unutilised revolving credit facilities amounting to RM10,000,000 (2024: RM10,000,000) which is granted from a financial institution. The said facility of is secured by investment properties of the subsidiary amounting to RM18,700,000 (2024: RM18,700,000) as disclosed in Note 10. Changes in liabilities arising from financing activities: Non-current RM Current RM Total RM Group At 1 January 2025 594,278,034 45,500,000 639,778,034 Cash flows (12,726,500) - (12,726,500) Reclassification (72,474,998) 72,474,998 - Charged to profit or loss 3,646,480 - 3,646,480 At 31 December 2025 512,723,016 117,974,998 630,698,014 At 1 January 2024 521,681,074 117,934,325 639,615,399 Cash flows (1,926,900) - (1,926,900) Reclassification 72,434,325 (72,434,325) - Charged to profit or loss 2,089,535 - 2,089,535 At 31 December 2024 594,278,034 45,500,000 639,778,034
RkJQdWJsaXNoZXIy NDgzMzc=