NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER 2023 17. Islamic financing (Cont’d) 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% (2022: 1.25%) per annum above the bank’s COF. As at reporting date, the profit rate for the Commodity Murabahah is 4.89% (2022: 4.50%) per annum. The Commodity Murabahah - II was secured against the investment properties which amounting to RM74,000,000 (2022: RM74,100,000) 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% (2022: 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 4.77% and 4.85% (2022: 4.42% and 4.54%) per annum for Tranche 1 and Tranche 2 respectively. The Commodity Murabahah - III was secured against the investment properties which amounting to RM1,115,000,000 (2022: RM 1,103,400,000) as disclosed in Note 10. RC - I and TF - I RC - I and TF - I 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% (2022: 1.20%) per annum above the bank’s COF. The average effective profit rate for the RC - I is 4.44% (2022: 4.40%) per annum. The RC - I had been fully repaid during the current financial year. The TF - I bears a profit rate of 1.20% (2022: 1.20%) 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% (2022: 1.00%) 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 4.92% (2022: 4.40%) per annum. The RC - I and TF - I were secured against the investment properties which amounting to RM272,500,000 (2022: RM272,500,000) as disclosed in Note 10. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 214 FINANCIAL STATEMENTS 1 2 3 4 5
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