NOTES TO THE FINANCIAL STATEMENTS Cont’d 5. Investment properties cont’d Fair value information cont’d Valuation process applied by the Group for Level 3 fair value The fair value of investment properties is estimated by the Directors using the comparison method. The comparison method entails critical analyses of recent evidences of values of comparable properties in the neighbourhood and making adjustment for differences such as differences in location, size and shape of land, age and condition of building, tenure, title restrictions, if any, and other relevant characteristics. 6. Intangible assets Group Goodwill Others Total RM’000 RM’000 RM’000 Cost At 1 January 2021 67,582 675 68,257 Effect of movements in exchange rates (297) (16) (313) At 31 December 2021/1 January 2022 67,285 659 67,944 Acquisition through business combination (Note 33.1) 3,687 - 3,687 Effect of movements in exchange rates (176) (9) (185) At 31 December 2022 70,796 650 71,446 Amortisation and impairment loss At 1 January 2021 Accumulated amortisation - 204 204 Accumulated impairment loss 4,131 - 4,131 4,131 204 4,335 Amortisation for the year - 103 103 At 31 December 2021/1 January 2022 Accumulated amortisation - 307 307 Accumulated impairment loss 4,131 - 4,131 4,131 307 4,438 Amortisation for the year - 101 101 At 31 December 2022 Accumulated amortisation - 408 408 Accumulated impairment loss 4,131 - 4,131 4,131 408 4,539 Carrying amounts At 1 January 2021 63,451 471 63,922 At 31 December 2021/1 January 2022 63,154 352 63,506 At 31 December 2022 66,665 242 66,907 PRESS METAL ALUMINIUM HOLDINGS BERHAD 241
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