7 159 158 Notes to the Financial Statements Notes to the Financial Statements 5. INVESTMENT PROPERTIES Note Group RM’000 Cost At 1 April 2021 32,410 Additions 1,807 Disposal (219) Transfer from property, plant and equipment 3 11,222 Transfer to assets held for sale 17 (2,357) Effect of movement in exchange rates 451 At 31 March/1 April 2022 43,314 Additions 964 Disposal (220) Effect of movement in exchange rates 398 At 31 March 2023 44,456 Depreciation and impairment loss At 1 April 2021 - Accumulated depreciation 11,348 - Accumulated impairment loss 1,221 12,569 Depreciation for the year 3,888 Transfer from property, plant and equipment 3 26 Effect of movement in exchange rates 18 At 31 March/1 April 2022 - Accumulated depreciation 15,280 - Accumulated impairment loss 1,221 16,501 Depreciation for the year 2,953 Disposal (100) Effect of movement in exchange rates 37 At 31 March 2023 - Accumulated depreciation 18,170 - Accumulated impairment loss 1,221 19,391 Carrying amounts At 1 April 2021 19,841 At 31 March/1 April 2022 26,813 At 31 March 2023 25,065 Investment properties with carrying amount of RM5,713,000 (2022: RM5,842,000) have been pledged to licensed banks as security for banking facilities granted to the Group (see Note 19.1). 5. INVESTMENT PROPERTIES (CONTINUED) The following are recognised in profit or loss: Group 2023 RM’000 2022 RM’000 Lease income 2,826 1,381 Direct operating expenses: - income generating investment properties (145) (87) - non-income generating investment properties (58) (58) The operating lease payments to be received are as follows: Group 2023 RM’000 2022 RM’000 Less than one year 239 210 One to five years 317 458 Total undiscounted lease payments 556 668 Fair value information Fair value of investment properties are categorised as follows: Group Level 3 2023 RM’000 2022 RM’000 Land and building 68,490 68,345 Level 3 fair value Level 3 fair value is estimated using unobservable inputs for the investment property. Level 3 fair values of land are estimated by Directors by making reference to the asking price of comparable properties in close proximity and adjusting for differences in key attributes such as property size. The significant unobservable inputs include adjustments to price per square feet at comparable properties.
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