5. PROPERTY, PLANT AND EQUIPMENT (continued) (e) The Group’s condominiums, leasehold land and buildings are stated at Directors’ valuation which is supported by the professional valuation carried out in January 2023 by an external independent valuation company, KGV International Property Consultants (M) Sdn. Bhd.. The following table shows the valuation techniques used in the determination of fair values within Level 3, as well as the significant unobservable inputs used in the valuation models. Had the condominiums, leasehold land and buildings been carried at historical cost less accumulated depreciation, the carrying amounts of the revalued assets that would have been included in the financial statements at the end of the financial year are as follows: Group 2023 2022 RM’000 RM’000 Condominiums 171 180 Leasehold land 1,826 1,873 Buildings 7,131 7,351 9,128 9,404 The fair value of condominiums, leasehold land and buildings are categorised as Level 3 in the fair value hierarchy. There were no transfers between levels in the hierarchy during the financial year. Property category Valuation techniques used Significant unobservable inputs Inter-relationship between key observable inputs and fair value Condominiums Comparison approach Price per square feet RM103 - 248 The estimated fair value would increase if the price per square foot is higher. Leasehold land Comparison approach Price per square feet RM235 The estimated fair value would increase if the price per square foot is higher. Buildings Comparison approach Price per square feet RM151 - 551 The estimated fair value would increase if the price per square foot is higher. ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 97 Financial Statements (continued)
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