A L - S A L Ā M R E I T A N N U A L R E P O R T 2 0 2 1 10 LETTER TO STAKEHOLDERS OVERVIEW OF THE MACRO OPERATING ENVIRONMENT FY2021 was another challenging year. Businesses and industrial sectors were slowly recovering after a year of restrictions that had brought operations to a standstill. Lives were similarly impacted, and as a result, consumer habits changed to accommodate spending most of our time at home. Al-Salām REIT’s overall performance was impacted due to the Fund’s exposure to the retail segment. Dear Stakeholders, On behalf of the Board of Directors of the Manager, I present to you the Annual Report and Audited Financial Statements of Al-Salām REIT (the “Fund”) for the financial year ended 31 December 2021 (“FY2021”). My first full year as Chairman of the Manager was indeed a challenging one. When I was appointed on 14 February 2020, the pandemic was in full swing across the globe, and Malaysia soon entered lockdown. We began 2021 with optimism, but that was soon halted as nationwide containment measures were reimplemented (MCO 2.0 in January 2021 and MCO 3.0 in May 2021) to curb the resurgence of the virus, which had already impacted the nation both socially and economically. “
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