Wah Seong Corporation Berhad Annual Report 2019

122 WAH SEONG CORPORATION BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 6 PREPAID LEASE PAYMENTS Group 2019 2018 RM’000 RM’000 Unexpired period 50 years and above Cost At 1 January/31 December - 102,622 Accumulated amortisation At 1 January - 12,038 Amortisation for the financial year - 1,328 At 31 December - 13,366 Carrying amount at 31 December - 89,256 The carrying amount of prepaid lease payments is reclassified to right-of-use assets on 1 January 2019 upon adoption of MFRS 16. 7 INVESTMENT PROPERTIES Group Company Note 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Cost At 1 January 19,478 11,560 24,750 22,575 Additions - 7,216 - - Transfer from property, plant and equipment 4 - 702 - 2,175 Disposals (7,299) - - - At 31 December 12,179 19,478 24,750 24,750 Accumulated depreciation and impairment loss At 1 January 2,857 2,220 1,685 1,288 Depreciation charge for the financial year 137 346 273 273 Transfer from property, plant and equipment 4 - 291 - 124 Disposals (155) - - - At 31 December 2,839 2,857 1,958 1,685 Carrying amount at 31 December 9,340 16,621 22,792 23,065 Fair value 49,419 68,964 37,172 39,827 Proceeds from disposals during the financial year amounting to RM14,105,000 are included in Note 17 within ‘gross other receivables’.