NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 17. Islamic financing (cont’d) Commodity Murabahah - I The Commodity Murabahah - I is payable over a period of 60 months from the date of first disbursement with bullet repayment of the principal sum on the 60th month. The Commodity Murabahah - I bears a profit rate of 1.25% (2021: 1.25%) per annum above the bank’s Cost of Funds (“COF”). As at reporting date, the profit rate for the Commodity Murabahah is 4.50% (2021: 3.35%) per annum. The Commodity Murabahah - I was secured against the investment properties which amounting to RM112,815,084 (2021: RM116,312,398) as disclosed in Note 10. Commodity Murabahah - II The Commodity Murabahah - II is payable over a period of 60 months from the date of first disbursement with bullet repayment of the principal sum on the 60th month. The Commodity Murabahah - II bears a profit rate of 1.25% (2021: 1.25%) per annum above the bank’s COF. As at reporting date, the profit rate for the Commodity Murabahah is 4.5% (2021: 3.35%) per annum. The Commodity Murabahah - II was secured against the investment properties which amounting to RM74,100,000 (2021: RM74,600,000) as disclosed in Note 10. Commodity Murabahah - III The Commodity Murabahah - III is payable over a period of 60 and 84 months for Tranche 1 and Tranche 2 respectively from the date of first disbursement with bullet repayment of the principal sum on the 60th and 84th months respectively. The Commodity Murabahah - III bears a profit rate of 1.15% and 1.25% (2021: 1.15% and 1.25%) per annum for Tranche 1 and Tranche 2 respectively above the bank’s COF. As at reporting date, the profit rate for the Commodity Murabahah is 4.42% and 4.54% (2021: 3.32% and 3.44%) per annum for Tranche 1 and Tranche 2 respectively. The Commodity Murabahah - III was secured against the investment properties which amounting to RM1,103,400,000 (2021: RM1,103,500,000) as disclosed in Note 10. RC - I and TF - I On 23 December 2022, the Group and the Fund obtained the RC - I and TF - I that are payable over a period of 60 months from the date of first disbursement with bullet repayment of the principal sum on the 60th month. The RC - I bears a profit rate of 1.20% (2021: Nil) per annum above the bank’s COF. As at reporting date, the profit rate for the RC - I is 4.40% (2021: Nil) per annum. The TF - I bears a profit rate of 1.20% (2021: Nil) per annum above the bank’s COF when Total Financing over Total Assets is greater than or equal to 40% and profit rate of 1.00% (2021: Nil) per annum above the bank’s COF when Total Financing over Total Assets is less than 40%. As at reporting date, the profit rate for the TF - I is 4.40% (2021: Nil) per annum. The RC - I and TF - I were secured against the investment properties which amounting to RM272,500,000 (2021: RMNil) as disclosed in Note 10. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2022 180
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