Al-`Aqar Healthcare REIT Annual Report 2020

AL-`AQAR HEALTHCARE REIT Annual Report 2020 108 The Group The Fund Note 2020 2019 2020 2019 RM RM RM RM Revenue 4 115,710,279 106,110,287 103,918,211 94,587,596 Property expenses 5 (6,096,053) (5,784,630) (5,943,869) (5,645,289) Gross profit 109,614,226 100,325,657 97,974,342 88,942,307 Investment revenue 6 1,011,305 1,655,201 8,868,611 10,550,265 Unrealised gain on foreign exchange 736,084 - 736,084 - Other income 1,414,273 717,196 1,414,273 717,196 Fair value adjustment of investment properties (47,772,461) 13,072,974 (5,423,801) 16,837,514 Total income 65,003,427 115,771,028 103,569,509 117,047,282 Expenditure Finance costs: Islamic financing 34,791,725 31,933,936 4,382,605 1,607,653 Amount due to a subsidiary - - 30,629,294 30,603,857 Transaction cost 462,365 390,454 242,192 112,880 Manager’s fees 1,837,356 1,719,328 1,837,356 1,719,328 Professional fees 270,677 537,734 119,050 517,734 Valuation fees 584,800 492,248 584,800 492,248 Directors fees 25,350 - - - Trustee’s fees 393,361 284,114 393,361 284,114 Maintenance of property 1,070,388 2,113,889 1,070,388 2,113,889 Printing expenses 74,766 89,700 73,070 87,900 Secretarial fee 286 4,583 - - Securities Commission’s fees 100 100 100 100 Registrar’s fee (3,649) 138,923 (3,649) 138,923 Audit fees Current year 242,606 181,453 118,000 100,000 Other services 10,000 - 10,000 10,000 Tax agent’s fee 10,000 18,000 16,200 17,200 Unrealised loss on foreign exchange - 333,951 - 333,951 Administration expenses 1,011,039 487,096 751,001 239,017 Allowance for impairment loss of investment in subsidiaries 11 - - 4,000,000 4,000,000 Derecognition of past lease receivables 12 9,801,166 - 8,423,133 - Annual listing fees 5,000 5,000 5,000 5,000 Withholding tax 785,731 889,506 785,731 889,506 Shariah adviser’s fee 6,000 3,000 6,000 3,000 Total expenditure 51,379,067 39,623,015 53,443,632 43,276,300 Profit before tax 13,624,360 76,148,013 50,125,877 73,770,982 Tax 7 (1,052,958) 13,724 (2,534,162) - Profit for the year 12,571,402 76,161,737 47,591,715 73,770,982 Profit for the year Realised 56,984,413 63,408,990 55,137,270 61,267,419 Unrealised (44,413,011) 12,752,747 (7,545,555) 12,503,563 12,571,402 76,161,737 47,591,715 73,770,982 Statements of Comprehensive Income For the Year Ended 31 December 2020