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Al-`Aqar Healthcare REIT Annual Report 2023
ALAQAR 2023
1
About Us
4
Corporate Profile
5
2023 Year In Review
6
Corporate Information
7
Trust Structure
8
Organisation Structure
9
Salient Features
10
Business Overview
11
Letter to Stakeholders
12
Five-Year Financial Performance
17
Trading Performance
19
Market Summary Report
21
Management Discussion And Analysis
26
Financial Review
26
Operations Review
31
Capital Review
35
Risk Management
36
Stakeholders Engagement
40
Sustainability Statement
42
Overview
43
A Synopsis Of Our Sustainability Accomplishments
45
Navigating Our Sustainablity Journey
46
Our Approach To Sustainability
47
Key ESG Performance Indicators
49
Insights Into Our Materiality Assessment
53
Integrating Climate-Related Considerations
56
Robust Corporate Governance
58
Sustainable Trust Fund
63
Strong Social Relationships
66
Environmental Stewardship
74
Moving Ahead
78
Performance Data Table
79
GRI Content Index
82
TCFD Content Index
84
Corporate Governance
85
The Board Of Directors
86
The Shariah Committee
95
The Management Team
98
Corporate Governance Overview Statement
102
Board Nominaton And Remuneration Committee Report
115
Board Audit And Risk Committee Report
120
Board Investment Committee Report
127
Board Sustainability Committee Report
130
Statement On Risk Management And Internal Controls
133
Additional Compliance Information
147
Shariah Adviser's Report
148
Trustee's Report
149
Other Information
150
Analysis Of Unitholdings
151
List Of Properties
153
Financial Statements
166
Manager's Report
167
Statement By Directiors of the Manager
173
Statutory Declaration
173
Independent Auditors' Report
174
Statements of Comprehensive Income
178
Statements of Financial Position
180
Statements of Changes in Net Asset Value
182
Statements of Cash Flows
184
Notes to the Financial Statements
186
Corporate Information
186
Basis of Preparation and Material Accounting Policies
188
Significant Accounting Judgement and Estimates
200
Revenue
201
Property expenses
202
Investment revenue
202
Tax credt
202
Earnings per unit
203
Income distributions
204
Investment properties
205
Investment in subsidiaries
210
Trade receivables, other receivables and prepaid expenses
210
Amount due from subsidiaries
212
Cash and bank balances
212
Other payables
213
Deferred tax liability
214
Islamic financing
215
Unitholders' capital
218
Management Expense Ratio ("MER")
218
Significant related party transactions
219
Operating leases - Group as lessor
219
Financial risk management objectives and policies
220
Segment reporting
224
Capital management
226
Portfolio turnover rato ("PTR")
227
Capital commitments
227
Significant events
228
Assets classified as held for sale
228
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