MKH Annual Report 2020

236 FINANCIAL STATEMENTS ANNUAL REPORT 2020 45. FAIR VALUE HIERARCHY (CONT’D) Fair value reconciliation of investment properties measured at level 3 are as follows: The Group Commercial properties RM Office and shoplot RM Education centre RM Total RM 2020 Investment properties At beginning of year 237,500,000 29,940,000 45,000,000 312,440,000 Transfer from inventories 54,161,808 - - 54,161,808 Fair value losses from transfer of  inventories to investment properties (5,180,808) - - (5,180,808) Changes in fair values (11,300,000) (865,000) - (12,165,000) At end of year 275,181,000 29,075,000 45,000,000 349,256,000 2019 Investment properties At beginning of year 243,500,000 30,120,000 45,000,000 318,620,000 Changes in fair values (6,000,000) (180,000) - (6,180,000) At end of year 237,500,000 29,940,000 45,000,000 312,440,000