Al-`Aqar Healthcare REIT Annual Report 2019

• Investor Relations Developing and maintaining investor relations including informationcoordination and distribution as well as customer service to investors. • Compliance Management Supervise all regulatory filings on behalf of Al-`Aqar, and ensure that Al-`Aqar is in compliance with the applicable provisions of the Securities Commission Act, Listed REIT Guidelines, Bursa Securities Listing Requirements, Trust Deed and all relevant contracts. PRINCIPLESOF THECORPORATEGOVERNANCE CODE 1. BOARD LEADERSHIP AND EFFECTIVENESS 1.1 Board Responsibilities In discharging their duties and responsibilities, the Board ensures that all decisions made are in the best interests of the Fund and stakeholders. As prescribed by the MCCG 2017, the Board assumes, inter alia, the following responsibilities:- • Reviewing and adopting a strategic plan for the Fund The strategic and business plan for the period 2020 – 2024 was tabled, discussed and approved by the Board at its meeting on 20 November 2019. Additionally, on an ongoing basis as need arises, the Board will assess whether strategic consideration being proposed at Board meetings during the year are in line with the objectives and broad outline of the adopted strategic plans. The Boardwill ensure that the strategic plan supports long-term value creation and includes strategies on economic, environmental and social considerations underpinning sustainability. • Overseeing the conduct and overall management of the Manager and the business of Al- `Aqar The Board is responsible to oversee, supervise and review the Fund’s annual budget, operational and financial performance on a periodic basis against the budget. At Board meetings, all operational and financial matters will be discussed and appropriate consultation will be sought if necessary. Where and when available, the performance of the Fund will be benchmarked and compared against the performance of other REITs. • Identifying principal risks and ensuring the implementation of appropriate internal controls and mitigation measures The Board will set the risk appetite within which the Board expects the Manager to operate and ensure there is an appropriate risk management framework to identify, analyse, evaluate, manage and monitor significant financial and non-financial risks. The Risk Management Report will be tabled on a quarterly basis in the Board meeting to review the Fund’s risks. • Succession planning The Board will deliberate on the latest plans and actions taken in respect of the succession planning to ensure that all candidates appointed to the Board and senior management positions are of sufficient calibre. • Effective communication with stakeholders The Board will ensure that there is an effective communication with stakeholders. The Manager has introduced many activities with regards to engagement and communication with investors to ensure that they are well informed about the Fund affairs and developments. Details of investors’ activities are disclosed on page 50 of this Annual Report. • Reviewing the adequacy and the integrity of the management information and internal controls system of the Fund The Board’s function as regard to fulfilling these responsibilities effectively are supported and reinforced through the various Committees established at both the Board and Manager’s level. The active functioning of these Committees through their regular meetings and discussions would provide a strong check 05 ESSENCE OF CORPORATE GOVERNANCE 86