NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER 2023 23. Segment reporting (Cont’d) The Group’s segmental information is as follows (Cont’d): Malaysia Australia Total RM RM RM 31 December 2022 Rental 104,587,721 5,650,946 110,238,667 Property expenses (5,977,646) (62,007) (6,039,653) Net property income 98,610,075 5,588,939 104,199,014 Investment income 922,748 - 922,748 Other income 579,833 425,590 1,005,423 Fair value adjustment on investment properties (11,258,551) - (11,258,551) Total income 88,854,105 6,014,529 94,868,634 Expenditure (6,732,573) (502,488) (7,235,061) Operating profit 82,121,532 5,512,041 87,633,573 Financing costs (27,598,039) - (27,598,039) Profit before tax 54,523,493 5,512,041 60,035,534 Tax 103,325 - 103,325 Profit after tax 54,626,818 5,512,041 60,138,859 Total assets 1,737,999,430 129,066,405 1,867,065,835 Total liabilities 895,642,368 208,688 895,851,056 24. Capital management The Group and the Fund manage their capital to ensure that entities in the Group and the Fund will be able to continue as going concerns while maximising the return to unitholders through the optimisation of the debt and equity balance. The capital structure of the Group and of the Fund consists of net debt (borrowings as detailed in Note 17 offset by cash and cash equivalents and unitholders’ fund of the Group and of the Fund (comprising unitholders’ capital and undistributed income). Gearing ratios are calculated based on the proportion of total borrowings to the total asset value in accordance with Securities Commission Malaysia (“SC”) Guidelines. The SC Guidelines require that the total borrowings of a fund (including borrowings through issuance of debt securities) should not exceed 50% of the total asset value of the Fund at the time the borrowings are incurred. Notwithstanding, the Fund’s total borrowings may exceed this limit with the sanction of the unitholders by way of an ordinary resolution. The Manager’s risk management committee reviews the capital structure of the Group and of the Fund on a regular basis to ensure that the SC Guidelines are complied with. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023 224 FINANCIAL STATEMENTS 1 2 3 4 5
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