BOARD INVESTMENT COMMITTEE REPORT MATTERS DISCUSSED BY THE BIC IN THE FYE 2022 (CONT’D) The following are key matters discussed by the BIC during the FYE 2022: INVESTMENT (ACQUISITION & DISPOSAL) The BIC has reviewed proposals of the proposed acquisitions, which include the diversification its Shariah-compliant real estate portfolio with a focus on healthcare related real estate investment by tenant and asset class, as well as to explore opportunities with attractive returns and enhance unit value through selective acquisitions. This to ensure these properties have good track record and/or good prospects of future net rental income of reasonable levels which have been shown by studies to be competitive and located within good catchment areas. The BIC has reviewed and monitor proposal of divested of properties, namely where the investments have achieved the set targets, or have been assessed as not being able to derive any further value and or when an opportunity to maximize its value arises before the predetermined investment time horizon or other reason that may warrant divestment. The divestment plan also has taken into consideration the transformation in the industry. ASSET MANAGEMENT The BIC has deliberated on proposals for asset enhancement initiatives of current properties that has the potential to further increase its returns and expected to generate accretive returns upon further expansion. The BIC has also reviewed proposals for repositioning of current properties within the Fund’s portfolio which is to be aligned with the transformation of the industry and may require to be recapitalised to achieve portfolio optimization goals. CAPITAL MANAGEMENT The BIC has reviewed funding proposals to ensure each investment made by the Fund shall have a funding structure appropriate to the investment profile. In general, the capital structure of REIT should be financed by a combination of equity, debt and other financing instruments. PORTFOLIO MONITORING The BIC also undertook periodic monitoring on all investments including reviewing performance of the investment portfolio to ensure consistency with Fund’s objectives and direction and transformation in the healthcare industry. SUMMARY OF MEETINGS IN THE YEAR Items discussed 26 Jan 2022 13 Apr 2022 (Special) 18 May 2022 18 Aug 2022 16 Nov 2022 Investment (Acquisition & Disposal) Asset Management Capital Management Portfolio Monitoring 111 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
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