MKH Annual Report 2020

235 MKH BERHAD 45. FAIR VALUE HIERARCHY (CONT’D) Fair value reconciliation of land and buildings under property, plant and equipment measured at level 3 are as follows: The Group 2020 Factory buildings RM Office and shoplot RM Total RM Land and buildings under property, plant and equipment At beginning of year 9,860,015 61,404,898 71,264,913 Reclassification 5,292,913 918,577 6,211,490 Depreciation charge for the financial year (525,022) (2,111,388) (2,636,410) Write-offs (9,701) - (9,701) Revaluation 1,608,000 3,300,085 4,908,085 Effect of movements in exchange rates 574,083 (989,148) (415,065) At end of year 16,800,288 62,523,024 79,323,312 Description of valuation techniques used and key unobservable inputs to valuation on land and buildings under property, plant and equipment measured at level 3 are as follows: Property category Valuation technique Significant unobservable inputs Range Property, plant and equipment Freehold land Cost method Market value per  square feet RM58 Buildings Comparison method Market value per  square feet RM113 - RM326 Buildings Cost method Construction price per  square feet RM27 - RM250 Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2020