Al-`Aqar Healthcare REIT Annual Report 2019

06 FINANCIAL STATEMENT 142 ** Based on valuation carried out by independent professional valuer, Messrs. Knight Frank. *** Based on valuation carried out by independent professional valuer, Messrs. VPC. 12. INVESTMENT IN SUBSIDIARIES The Fund 2019 2018 RM RM Unquoted shares, at costs 42,492,186 42,492,186 Less: Accumulated impairment losses (11,000,000) (7,000,000) 31,492,186 35,492,186 The movement in the accumulated impairment losses is as follows: The Fund 2019 2018 RM RM At beginning of year 7,000,000 - Allowance for impairment losses 4,000,000 7,000,000 At end of year 11,000,000 7,000,000 The details of the subsidiaries are as follows: Name of Subsidiary Country of Incorporation Proportion of ownership interest and voting power held by the Group Principal Activity 2019 % 2018 % Al-`Aqar Capital Sdn Bhd (i) Malaysia 100 100 Special purpose company for the purpose of raising Islamic Financing for the Fund Al-Aqar Australia Pty Ltd (ii) Australia 100 100 Special purpose company for the purpose of acquisition of Australian property for the Fund (i) Audited by Deloitte PLT (ii) Audited by a firm other than Deloitte PLT Notes To The Financial Statements For The Financial Year Ended 31 December 2019 (Continued)