STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 The Group The Fund Note 2022 2021 2022 2021 RM RM RM RM Revenue 4 110,238,667 114,072,501 104,587,721 104,245,507 Property expenses 5 (6,039,653) (5,850,628) (5,977,646) (5,840,129) Gross profit 104,199,014 108,221,873 98,610,075 98,405,378 Investment revenue 6 922,748 623,104 5,377,949 7,382,380 Realised gain on foreign exchange - 11,182 - 11,182 Other income 1,005,423 532,331 579,833 532,303 Fair value adjustment of investment properties (11,258,551) 5,536,199 (11,258,551) 5,536,199 Total income 94,868,634 114,924,689 93,309,306 111,867,442 Expenditure Finance costs: Islamic financing 26,169,776 26,437,736 26,169,776 16,658,697 Amount due to a subsidiary - - - 10,328,925 Transaction cost 17 1,428,263 1,567,034 1,428,263 1,017,149 Manager’s fees 1,851,471 1,845,342 1,851,471 1,845,342 Professional fees 1,008,481 892,748 946,895 683,542 Valuation fees 411,800 552,023 411,800 552,023 Directors fees 23,565 23,409 - - Trustee’s fees 380,770 385,343 380,770 385,343 Disposal fees 1,004 - 1,004 - Maintenance of property 1,865,540 1,712,287 1,865,540 1,712,287 Printing expenses 138,997 121,980 136,337 119,370 Secretarial fee 831 1,876 - - Securities Commission’s fees 100 100 100 100 Audit fees - Current year 313,970 249,614 150,000 127,000 - Other services 10,000 10,000 10,000 10,000 Tax agent’s fee 18,500 15,520 16,500 14,720 Unrealised loss on foreign exchange 16,585 146,339 16,585 146,339 Realised loss on foreign exchange 56,000 - 56,000 - Loss on disposal 93,800 - 93,800 - Administration expenses 583,127 1,683,784 337,046 1,096,372 Allowance for impairment loss of investment in a subsidiary 11 - - 893,792 24,058,753 Allowance for expected credit loss on amount due from a subsidiary - - - 1,303,019 Derecognition of past lease receivables 12 - 5,806,073 - 4,514,732 Annual listing fees 5,000 5,000 5,000 5,000 Withholding tax 445,520 675,928 445,520 675,928 Shariah adviser’s fee 10,000 11,000 10,000 11,000 Total expenditure 34,833,100 42,143,136 35,226,199 65,265,641 Profit before tax 60,035,534 72,781,553 58,083,107 46,601,801 Tax credit 7 103,325 768,296 103,325 768,296 Profit for the year 60,138,859 73,549,849 58,186,432 47,370,097 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2022 142
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