Al-`Aqar Healthcare REIT Annual Report 2020

AL-`AQAR HEALTHCARE REIT Annual Report 2020 138 11. Investments in subsidiaries Fund 2020 2019 RM RM Unquoted shares, at cost 42,492,186 42,492,186 Less: Accumulated impairment losses (15,000,000) (11,000,000) Net carrying amount 27,492,186 31,492,186 The movement in the accumulated impairment losses is as follows: 2020 2019 RM RM At 1 January 11,000,000 7,000,000 Allowance for impairment losses 4,000,000 4,000,000 At 31 December 15,000,000 11,000,000 Details of the subsidiaries are as follows: Country of incorporation Proportion of ownership interest and voting power held by the Group Name of subsidiaries Principal activities 2020 2019 % % Al-`Aqar Capital Sdn Bhd ⁽ⁱ⁾ Malaysia Special purpose company for the purpose of raising Islamic Financing for the Fund 100 100 Al-Aqar Australia Pty Ltd ⁽ⁱⁱ⁾ Australia Special purpose company for the purpose of acquisition of Australian property for the Fund 100 100 (i) Audited by Ernst & Young PLT (ii) Audited by a firm other than Ernst & Young PLT Notes to the Financial Statements For the Year Ended 31 December 2020