NOTES TO THE FINANCIAL STATEMENTS Cont’d 5. Investment properties cont’d Group 2022 2021 RM’000 RM’000 Included in the above are: Land owned 180 180 Land leased 33,840 36,569 Buildings 18,785 17,871 52,805 54,620 Properties under construction - 4,706 52,805 59,326 As at 31 December 2022, the Group has an accumulated impairment loss of RM200,000 (2021: RM200,000). Investment properties comprise land and a number of residential properties and commercial properties that are leased to third parties or are currently vacant. Investment properties of the Group amounting to RM5,080,000 (2021: RM5,194,000) have been charged to secure banking facilities granted to the Group (see Note 17). As at 31 December 2021, 9 residential properties were under construction and the estimated fair values were likely to approximate their costs. The following are recognised in profit or loss in respect of investment properties: Group 2022 2021 RM’000 RM’000 Lease income 2,491 5,348 Direct operating expenses: - income generating investment properties (2,053) (1,733) - non-income generating investment properties (438) (522) Fair value information Fair value of investment properties is categorised as follows: Group 2022 2021 RM’000 RM’000 Level 3 Land 89,764 41,806 Buildings 25,869 24,824 115,633 66,630 ANNUAL REPORT 2022 240
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