NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 6 INVESTMENT PROPERTIES Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Cost At 1 January 12,340 12,296 24,750 24,750 Additions - 44 - - Transfer from/(to) property, plant and equipment 5,567 - (5,438) - At 31 December 17,907 12,340 19,312 24,750 Accumulated depreciation and impairment loss At 1 January 6,740 2,972 2,505 2,231 Depreciation charge for the financial year 222 223 212 274 Impairment charge for the financial year - 3,545 - - Transfer from/(to) property, plant and equipment 1,899 - (550) - At 31 December 8,861 6,740 2,167 2,505 Carrying amount at 31 December 9,046 5,600 17,145 22,245 Fair value 48,236 48,413 27,420 35,402 The carrying amount of the Group’s and the Company’s investment properties amounting to RM4,939,000 and RM17,145,000 respectively (2021: RM5,073,000 and RM20,291,000) are subject to operating leases as lessor. Fair value of investment properties is categorised as follows: Level 1 Level 2 Level 3 Total Group RM’000 RM’000 RM’000 RM’000 2022 Land - - 16,158 16,158 Buildings - - 32,078 32,078 - - 48,236 48,236 2021 Land - - 16,158 16,158 Buildings - - 32,255 32,255 - - 48,413 48,413 Company 2022 Buildings - - 27,420 27,420 2021 Buildings - - 35,402 35,402 Wah Seong Corporation Berhad Annual Report 2022 138
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