Tropicana Corporation Berhad Annual Report 2019

17. INVESTMENT PROPERTIES (CONT’D.) The Group has no restrictions on the realisability of its investment properties and no contractual obligations to either purchase, construct or develop investment properties or for repairs, maintenance and enhancements. Investment properties are stated at fair value, which had been determined based on valuations as at 31 December 2019 and 31 December 2018 performed by accredited independent valuers who are specialists in valuing these types of investment properties. The fair value of the properties had been determined using the cost method, comparison method, income approach by residual method and investment method depending on the nature of the properties. Included in the construction in-progress amounting to RM81,964,000 (2018: RM81,563,000) is stated at cost as management believes that the fair value cannot be reliably determined due to the nature and the amount of remaining project risks. Fair value hierarchy disclosures for investment properties is disclosed in Note 38. Reconciliation of fair values: Freehold Leasehold land and land and Construction buildings buildings in-progress RM’000 RM’000 RM’000 At 1 January 2019 178,733 314,436 – Additions – 346,581 53,952 Re-measurement recognised in profit or loss – (871) 197 Transfer from property development costs (Note 16(b)) – 522,019 3,723 Transfer to assets classified as held for sale (Note 27) (30,000) (45,700) – Disposals – (48,000) – At 31 December 2019 148,733 1,088,465 57,872 At 1 January 2018 205,281 273,960 – Additions – 185 – Adjustments 1 – (3,548) – Re-measurement recognised in profit or loss (3,748) 35,170 – Transfer from property development costs (Note 16(b)) – 44,969 – Transfer to assets classified as held for sale (Note 27) (22,800) (36,300) – At 31 December 2018 178,733 314,436 – pg 175 Tropicana Corporation Berhad Annual Report 2019 Sustainability at Tropicana What We’ve Governed Financial Statements & Other Information