Dear Valued Stakeholders, LETTER TO STAKEHOLDERS On behalf of the Board of Directors, I am delighted to present the Annual Report for Al-`Aqar Healthcare REIT (“Al-`Aqar”, the “Fund” or the “Group”) for the financial year ended 31 December 2023 (“FY2023”). The year 2023 marked a significant period of growth as Malaysia successfully navigated beyond the challenges posed by Covid-19 and the healthcare industry witnessed its capacity reaching maximum rates. Throughout 2023, the Manager dedicated substantial efforts to fortify relationships with existing tenants, KPJ Group, laying the foundation for future growth and diversification, as well as implementing capital recycling strategies. The Group’s investment properties stood at RM1.64 billion as at 31 December 2023. As we step into 2024, the Manager remains focused on implementing the comprehensive 5-Year Plan (20242028), a strategic initiative poised to propel Al-`Aqar to the next phase of growth. As the chairman of the Group, I am honored to present the Annual Report for FY2023, featuring a commendable distribution per unit (“DPU”) of 7.90 sen. This achievement aligns with the Manager’s expectation and translates to a remarkable payout of 100%, marking a 10-year high for Al-`Aqar, demonstrating our continuous commitment in delivering higher DPU to unitholders. The Manager remains steadfast in its commitment to delivering a consistently increasing trend of DPU, supported by acquisitions, long term lease renewals, and proactive capital recycling. 10 BUSINESS OVERVIEW 1 3 4 5 6 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023
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