245 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 ACCOUNTABILITY (FINANCIAL STATEMENTS) 17. Investment properties (continued) The Group uses assumptions that are based on market conditions existing at the end of each reporting period. The fair value of investment properties were estimated by management based on market evidence of transaction prices for similar properties, adjusted for differences in key attributes such as property size, view and quality of interior fittings. Fair value is determined using Level 3 inputs (defined as unobservable inputs for asset or liability) in the fair value hierarchy of MFRS 13 Fair Value Measurement (Note 39(a)). Changes in fair value are recognised in profit or loss during the reporting period in which they are reviewed. The fair value measurements using Level 3 inputs are as follows: Valuation technique Significant unobservable input Price per square foot RM/psf 2023 2022 Residential properties Market comparison approach 655 - 1,133 655 - 1,133 Sensitivity to significant unobservable inputs Changes in the price per square foot by 5% are not expected to result in a significant change in fair value of the investment properties of the Group. 18. Intangible assets Group Computer software RM million Contract rights* RM million Trademark RM million Total RM million Cost At 1 February 2021 43 375 1 419 Additions 1 - - 1 Exchange differences 1 15 - 16 At 31 January 2022 and 1 February 2022 45 390 1 436 Additions 3 - 1 4 Exchange differences 1 5 - 6 At 31 January 2023 49 395 2 446 Accumulated amortisation At 1 February 2021 26 55 - 81 Amortisation (Note 7 & Note 9) 6 49 - 55 Exchange differences 1 2 - 3 At 31 January 2022 and 1 February 2022 33 106 - 139 Amortisation (Note 7 & Note 9) 5 52 - 57 Exchange differences - (1) - (1) At 31 January 2023 38 157 - 195 Net carrying amount At 31 January 2022 12 284 1 297 At 31 January 2023 11 238 2 251 * Contract rights recognised pursuant to the consideration paid for the novation of a charter contract involving provision of EPCIC and leasing of FPSO Helang.
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