18 RIGHT-OF-USE ASSETS (CONTINUED) Leasehold land Building Total RM’000 RM’000 RM’000 Group 2020 Cost At 1 January 110,437 10,709 121,146 Transfer from asset held for sale (Note 29) 99,225 - 99,225 Transfer to asset held for sale (Note 29) (108,673) - (108,673) Lease modification - (3,301) (3,301) Lease expiry - (1,209) (1,209) At 31 December 2020 100,989 6,199 107,188 Accumulated depreciation At 1 January 2020 12,067 4,937 17,004 Charge for the financial year 4,877 798 5,675 Transfer from asset held for sale (Note 29) 17,687 - 17,687 Transfer to asset held for sale (Note 29) (22,037) - (22,037) Lease modification - (2,574) (2,574) Lease expiry - (1,209) (1,209) At 31 December 2020 12,594 1,952 14,546 Accumulated impairment At 1 January 2020 7,968 - 7,968 Reversal of impairment during the financial year (7,968) - (7,968) At 31 December 2020 - - - Net book value At 31 December 2020 88,395 4,247 92,642 In the financial year ended 31 December 2020, the Group has carried out a valuation exercise on its assets. Pursuant to the valuation exercise, the Group has reversed an impairment charge of RM7,968,000 made previously. The fair value is within Level 2 of the fair value hierarchy as this is based on comparison of prices for similar assets. NOTESTOTHE FINANCIAL STATEMENTS FORTHE FINANCIALYEAR ENDED 31 DECEMBER 2021 WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOWWE OPERATE MSM Malaysia Holdings Berhad ANNUAL INTEGRATED REPORT 2021 334
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