203 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey 5 INVESTMENT PROPERTIES Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Cost At 1 January 13,428 17,907 - 19,312 Transfer to assets held for sale - (4,479) - (19,312) At 31 December 13,428 13,428 - - Accumulated depreciation and impairment loss At 1 January 7,016 8,861 - 2,167 Depreciation charge for the financial year 123 195 - 213 Impairment charge for the financial year - 19 - - Transfer to assets held for sale - (2,059) - (2,380) At 31 December 7,139 7,016 - - Carrying amount at 31 December 6,289 6,412 - - Fair value 25,000 25,000 - - The carrying amount of the Group’s investment properties amounting to RM2,341,000 (2023: RM2,386,000) are subject to operating leases as lessor. Recognition and measurement Investment properties are properties held to earn rental income or for capital appreciation or both rather than for use in the production or supply of goods and services or for administrative purposes, or sale in the ordinary course of business. Investment properties are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Freehold land is not depreciated. Freehold and leasehold buildings are depreciated over the shorter of their estimated useful lives of 50 years or lease term. The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at the end of each financial year.
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