288 SECTION 09 AL-`AQAR HEALTHCARE REIT NOTES TO THE FINANCIAL STATEMENTS 31 December 2025 24. CAPITAL MANAGEMENT (CONT’D) 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. Gearing ratio The Group’s and the Fund’s gearing ratio are calculated based on the proportion of total borrowings to the total asset value. The gearing ratio at the end of the reporting period is as follows: Group Fund 2025 RM 2024 RM 2025 RM 2024 RM Total borrowings 1,009,056,266 759,141,666 1,009,056,266 759,141,666 Total assets value 2,087,610,955 1,835,937,437 2,092,873,787 1,836,153,870 Total borrowings to total assets value ratio 48.34% 41.35% 48.21% 41.34% 25. PORTFOLIO TURNOVER RATIO (“PTR”) Group and Fund 2025 RM 2024 RM PTR (times) 0.23 0.01 The calculation of PTR is based on the average of total acquisitions and total disposals of investments in the Fund for the year to the average net asset value during the year calculated on a monthly basis. 26. SIGNIFICANT EVENTS Disposal of KPJ Healthcare College, Penang On 4 December 2025, the Group as represented by the Trustee, entered into a sale and purchase agreement (“SPA”) with Icon Square Sdn Bhd (“Icon Square”), for a proposed disposal of KPJ Healthcare College, Penang (“KPJHC, Penang”), for a cash consideration of RM12.0 million. The Purchaser had paid a deposit of RM240,000 being 2% of the disposal consideration upon signing of the SPA. The completion of the SPA is conditional upon approval from the existing financiers of Al-`Aqar Healthcare REIT and issuance of the replacement of issue document of title by the relevant land registry. The proposed disposal is expected to complete by quarter 1 of FY2026.
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