Al-`Aqar Healthcare REIT Annual Report 2019

The Chairman ensures that members of the Board work together with the Management in a constructive manner to address strategies, business operations, financial performance and risk management issues. The Executive Director has full executive responsibilities over the execution of the agreed business policies and directions set by the Board and of all operational decisions in managing Al- `Aqar. 3. INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS 3.1 Communication with Stakeholders The Board recognises the importance of timely dissemination of information to the unitholders and accordingly ensures that they are well informed of any major developments of Al-`Aqar. Such information is communicated through the annual report, the Fund’s various disclosures and announcements to Bursa Securities, including quarterly and annual results, and the corporate website. As part of Al-`Aqar’s active investor relations programme, discussions and dialogues areheldwith fundmanagers, financial analysts, unitholders and the media to convey information about Al-`Aqar’s performance, corporate strategy and other matters affecting unitholders’ interests. Details of the investor and public relations programs undertaken by the Manager are set out on page 50 of this Annual Report. 3.2 Conduct of General Meeting The Annual General Meeting is a vital platform for dialogue and interaction between the Board and the unitholders. The Manager had on 17 April 2019 convened its 7 th Annual General Meeting to seek the unitholders’ approval for amongst others:- • Proposed to allot and issue new units; • Proposed increase in the existing approved fund size; and • Proposed Recurrent Related Party Transaction Mandate. At the Annual General Meeting, the Chairman presented the progress and performance of the business and encouraged unitholders to participate in the question-and-answer session. DIRECTORS’ RESPONSIBILITY STATEMENT ON AUDITED FINANCIAL STATEMENTS The Board is responsible in the preparation of the Audited Financial Statements to give a true and fair view of the state of affairs, results and cash flows of the Manager and Al-`Aqar at the end of each financial year. In preparing the financial statements, the Board will ensure that suitable accountingpolicies have been applied consistently, and that reasonable and prudent judgements and assumptions have been made. All applicable approved accounting standards and relevant provisions of laws and regulations have been complied with. The Board is also responsible for ensuring that proper accounting and other records are kept which disclose with reasonable accuracy, the financial position of the Manager and Al-`Aqar and to ensure that the financial statements comply with the relevant statutory requirements. The Board has the overall responsibility for taking such steps that are reasonably open to them to safeguard the assets of Al-`Aqar to prevent and detect fraud and other irregularities. Al-`Aqar Healthcare REIT 05 ESSENCE OF CORPORATE GOVERNANCE 89