NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 3. Significant accounting judgements and estimates (cont’d) 3.2 Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: (a) Fair value of investment properties The Group and the Fund carry their investment properties at fair value, with changes in fair values being recognised in profit or loss. The Group and the Fund had engaged independent professional valuers to determine the fair value and there are no material events that affect the valuation between the valuation date and financial year end. The determined fair value of the investment properties by the independent professional valuers is most sensitive to the yield rate and discount rate. The range of the yield rate and the discount rate used in the valuation is disclosed in Note 10. The following table demonstrates the sensitivity of the fair value measurement to changes in estimated term yield rate, discount rate and its corresponding sensitivity result in a higher or lower fair value measurement: Fair value Fair value Increase/(decrease) Increase/(decrease) Group Fund 2022 2021 2022 2021 RM RM RM RM Yield rate - 0.25% 44,340,570 26,152,200 40,900,000 22,670,000 + 0.25% (39,141,390) (38,379,400) (36,000,000) (35,200,000) Discount rate - 0.25% 29,040,570 21,812,200 25,600,000 18,330,000 + 0.25% (24,341,390) (31,909,400) (21,100,000) (28,730,000) 4. Revenue Revenue from contract with customers comprises the following: Group Fund 2022 2021 2022 2021 RM RM RM RM Rental income Base rental income 106,741,353 111,228,700 101,090,407 101,401,706 Unbilled rental income 3,497,314 2,843,801 3,497,314 2,843,801 110,238,667 114,072,501 104,587,721 104,245,507 165 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
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