188 AL-SALĀM REIT ANNUAL REPORT 2023 Other statutory information (cont'd.) (b) At the date of this report, the Manager is not aware of any circumstances which would render: (i) the amount written off for bad debts or the amount of the provision for doubtful debts in the financial statements of the Group and the Fund inadequate to any substantial extent; and (ii) the values attributed to the current assets in the financial statements of the Group and of the Fund misleading. (c) At the date of this report, the Manager is not aware of any circumstances which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Fund misleading or inappropriate. (d) At the date of this report, the Manager is not aware of any circumstances not otherwise dealt with in this report or financial statements of the Group and of the Fund which would render any amount stated in the financial statements misleading. (e) As at the date of this report, there does not exist: (i) any charge on the assets of the Group and of the Fund which has arisen since the end of the financial year which secures the liabilities of any other person; or (ii) any contingent liability in respect of the Group and of the Fund which has arisen since the end of the financial year. (f) In the opinion of the Manager: (i) no contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which will or may affect the ability of the Group or of the Fund to meet their obligations when they fall due; and (ii) no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial year and the date of this report which is likely to affect substantially the results of the operations of the Group or of the Fund for the financial year in which this report is made. (g) As of 31 December 2023, the current liabilities of the Group and the Fund have exceeded the current assets by RM65,123,370 and RM69,877,704 respectively. In the opinion of the Manager, the Group will be able to meet their obligations and liabilities as and when they fall due on the basis that the Group will be able to repay their borrowings when it matures. As at the reporting date, the Group has submitted a letter to request for extension of the facility tenure of borrowing of RM118,000,000 for a further 2 years. As at the date of the financial statements, the Group is confident in obtaining the approval for the extension of tenure for repayment of borrowing for a further 2 years before maturity date on 24 March 2024. MANAGER'S REPORT
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