230 Annual Report 2021 45. FAIR VALUE HIERARCHY (CONT’D) Fair value reconciliation of land and buildings under property, plant and equipment measured at level 3 were as follows: Factory Office and buildings shoplot Total The Group RM RM RM Land and buildings under property, plant and equipment 2020 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 in 2020 measured at level 3 were as follows: Property Valuation Significant unobservable category technique 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 RM27 - RM250 feet Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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