8 SECTION 02 AL-`AQAR HEALTHCARE REIT Al-`Aqar’s Strategic Pillars Grow TAV Active Capital Management Achieve Share Price at Par with Net Asset Value More information on the REIT’s strategic pillar and the VENTURE27 strategic framework can be found in the Management Discussion and Analysis (“MD&A”) section. CORPORATE PROFILE Established in 2006, Al-`Aqar operates as the world’s first Islamic healthcare-themed REIT, focusing on a Shariah-compliant portfolio of healthcare properties. The REIT’s core business centres around the ownership and management of 23 assets. 17 3 2 1 More detailed information on the REIT’s assets can be found in the Portfolio Capital section The focus of Al-`Aqar’s business operation revolves around the acquisition, development, and lease of health-centric properties that improve the wellbeing of local communities while attracting residents and visitors, stimulating the local economy. The REIT’s business model is summarised below. Managed by JLG REIT Managers (“the Manager”) and part of the Johor Corporation (“JCorp”), Al-`Aqar pursues a growth strategy centred on acquiring a strategic and diversified asset portfolio that generates stable, sustainable, and long-term rental income, while executing Asset Enhancement Initiatives (“AEI”) to increase the value and income potential of existing properties. As healthcare is an essential service, Al- `Aqar is less susceptible to economic volatility compared to REITs operating in retail or office sectors. A primary driver of this stability is a strong relationship with the REIT’s anchor tenant, KPJ Healthcare Berhad (“KPJ”), coupled with long-term lease structures that provide high visibility for future income. This resilience is evidenced by Al-`Aqar’s 100% occupancy rate and substantial market presence across Malaysia, reinforced by the REIT’s status as the first Islamic healthcare REIT in Malaysia. The REIT’s ongoing operations are guided by three strategic pillars embedded within the overarching VENTURE27 strategic framework: 1 2 3 4 5 Hospitals Wellness Centres Colleges Aged Care Facilities Raise funds through Islamic financing and unitholder capital Acquire specialised healthcare real estate assets Lease back properties to reputable healthcare operators Provide dividends to unitholders based on the share of generated income Reinvest revenue into property modernisation and expansion
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