STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 The Group The Fund Note 2023 2022 2023 2022 RM RM RM RM Revenue 4 121,022,481 110,238,667 115,250,328 104,587,721 Property expenses 5 (6,552,386) (6,039,653) (6,486,678) (5,977,646) Gross profit 114,470,095 104,199,014 108,763,650 98,610,075 Investment revenue 6 1,450,856 922,748 5,906,057 5,377,949 Unrealised gain on foreign exchange 55,712 - 55,712 - Other income 731,276 1,005,423 731,276 579,833 Fair value adjustment of investment properties (5,151,250) (11,258,551) 8,735,161 (11,258,551) Total income 111,556,689 94,868,634 124,191,856 93,309,306 Expenditure Finance costs: Islamic financing 36,834,869 26,169,776 36,834,869 26,169,776 Transaction cost 17 2,312,217 1,428,263 2,312,217 1,428,263 Manager’s fees 4,430,769 1,851,471 4,430,769 1,851,471 Professional fees 3,298,450 1,008,481 1,031,315 946,895 Valuation fees 653,198 411,800 622,000 411,800 Directors fees 23,398 23,565 - - Trustee’s fees 418,825 380,770 418,825 380,770 Disposal fees - 1,004 - 1,004 Maintenance of property 958,959 1,865,540 958,959 1,865,540 Printing expenses 45,848 138,997 45,688 136,337 Secretarial fee 1,155 831 - - Securities Commission’s fees 1,200 100 1,200 100 Audit fees - Current year 343,000 313,970 170,000 150,000 - Other services 330,000 10,000 330,000 10,000 Tax agent’s fee 16,800 18,500 14,800 16,500 Unrealised loss on foreign exchange - 16,585 - 16,585 Realised loss on foreign exchange - 56,000 - 56,000 Loss on disposal of investment property - 93,800 - 93,800 Administration expenses 874,308 583,127 673,558 337,046 Allowance for impairment loss of investment in a subsidiary 11 - - 2,539,638 893,792 Allowance for expected credit loss on amount due from a subsidiary - - 6,970,806 - Annual listing fees 5,000 5,000 5,000 5,000 Withholding tax 445,520 445,520 445,520 445,520 Shariah adviser’s fee 9,000 10,000 9,000 10,000 Total expenditure 51,002,516 34,833,100 57,814,164 35,226,199 Profit before tax 60,554,173 60,035,534 66,377,692 58,083,107 Tax credit 7 140,000 103,325 140,000 103,325 Profit for the year 60,694,173 60,138,859 66,517,692 58,186,432 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 176 FINANCIAL STATEMENTS 1 2 3 4 5
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