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245
AL-SALAM REIT ANNUAL REPORT 2023
ALSREIT 2023
1
Our Business
2
2023 Highlights
3
About Us
6
Corporate Profile
7
Corporate Information
8
Trust Structure
9
Organisation Structure
10
Salient Features
11
Business Overview
13
Letter To Stakeholders
16
Five-Year Financial Performance
20
Trading Performance
21
Market Report Summary
22
Managment Discussion & Analysis
26
Financial Review
26
Retail Segment
30
Capital Management
43
Key Risk Factors
45
Stakeholder Engagement
47
Sustainability Statement
51
A Cursory Snapshot of Our Sustainability Journey
54
Our Sustainability Performance Highlights
57
Looking Back on Our Reporting Journey
58
A Strategic Approach Toward Sustainable Excellence
60
Identifying Our Material Sustainability Matters
66
Robust Corporate Governance
72
Sustainable Trust Fund
76
Strong Social Relationships
79
Environmental Stewardship
89
Concluding A Year of Progress
94
Performance Data Table
95
GRI Content Index
98
TCFD Content Index
99
Corporate Governance
101
The Board Of Directors
104
The Shariah Committee
113
The Management Team
116
Corporate Governance Overview Statement
120
Board Audit and Risk Committee Report
134
Board Investment Committee Report
141
Board Nomination and Remuneration Committee Report
144
Board Sustainability Committee Report
148
Statement on Risk Management and Internal Control
151
Additional Compliance Information
164
Shariah Adviser's Report
166
Trustee's Report
167
Other Information
168
Portfolio Summary and Details
169
Analysis of Unitholdings
183
Financial Statements
185
Manager's Report
186
Statement by Directors of the Manager
192
Statutory Declaration
192
Independent Auditors' Report
193
Statements of Comprehensive Income
197
Statements of Financial Position
199
Statements of Changes in Net Asset Value
201
Statements of Cash Flows
202
Notes to the Financial Statements
203
Corporate information
203
Basis of preparation and material accounting policies
204
Significant accounting judgements and estimates
215
Gross rental income
217
Other income
217
Investment income
217
Tax expense
217
Earnings per unit
219
Income distribution
219
Investment properties
220
Equipment
225
Investment in a subsidiary
225
Trade receivables, other receivables and prepaid expenses
226
Cash and bank balance
229
Deferred tax liability
229
Other payables and accrued expenses
230
Islamic financing
231
Unitholders' capital
234
Management Expense Ratio ("MER")
235
Significant related party transactions
235
Fair value of financial instruments
236
Financial risk management objectives and policies
237
Segment reporting
239
Capital management
244
Commitments
244
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