223 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 FINANCIAL STATEMENTS 10. Investment properties (cont'd.) ### The investment properties amounting to RM105,800,000 (2022: RM102,700,000) are used to secure against Business Financing-I ("BF-I") issued by the Fund as disclosed in Note 17. #### Restaurant with drive-through facility: Pizza Hut and KFC Off Jalan Kepong, Kuala Lumpur, amounting of RM18,300,000 (2022: RM17,300,000) are used to secure against Commodity Murabahah Revolving Credit (“CMRC”). * Based on valuation carried out by independent professional valuer, Messrs. Cheston. 11. Equipment Group Fund 2023 2022 2023 2022 RM RM RM RM Cost At 1 January 1,549,014 1,273,913 1,549,014 1,273,913 Additions 270,794 275,101 270,794 275,101 At 31 December 1,819,808 1,549,014 1,819,808 1,549,014 Accumulated depreciation At 1 January 746,351 565,603 746,351 565,603 Charge for the year 204,893 180,748 204,893 180,748 At 31 December 951,244 746,351 951,244 746,351 Net carrying amount At 31 December 868,564 802,663 868,564 802,663 12. Investment in a subsidiary Fund 2023 2022 RM RM Unquoted shares, at cost 2 2 Details of the subsidiary are as follows: Proportion of Name of Principal activities Country of ownership interest subsidiary incorporation 2023 2022 % % ALSREIT Capital Sdn Bhd Special purpose company Malaysia 100 100 for the purpose of raising Islamic Financing for the Fund
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