221 MKH Berhad Notes to the Financial Statements For the Financial Year Ended 30 September 2022 FAIR VALUE HIERARCHY (CONT’D) 46. Fair value reconciliation of investment properties measured at level 3 are as follows: The Group Commercial Properties RM O ce and shoplot RM 2022 Investment properties Education centre RM 270,181,000 29,060,000 At beginning of year 45,000,000 344,241,000 2,840,000 (405,000) Changes in fair values - 2,435,000 273,021,000 49,355,000 At end of year 45,000,000 367,376,000 270,181,000 29,060,000 At end of year 45,000,000 344,241,000 Transfer from inventories - 17,749,731 - 17,749,731 2021 Investment properties 275,181,000 29,075,000 At beginning of year 45,000,000 349,256,000 Changes in fair values (5,000,000) (15,000) - (5,015,000) Fair value gains on transfer of inventories to investment properties - 2,950,269 - 2,950,269 Total RM Description of valuation techniques used and key unobservable inputs to valuation on investment properties measured at level 3 are as follows: 2022 Property category Valuation technique Range Significant unobservable inputs Investment properties Commercial properties Commercial properties Commercial properties Car park Commercial properties Comparison method Comparison method Cost method Comparison method Investment method Market value per square feet RM240 Market value per square feet RM120 - RM1,650 Construction price per square feet RM55 - RM120 Estimated price per parking bay RM17,000 - RM25,000 Estimated average rental rate per square feet per month RM2.86 RM2.00 Estimated outgoings per square feet per month 5.75% - 6.25% Term yield 15% - 30% Outgoings Rate 3% Sinking fund 10% - 12.5% Void rate 67 - 80 years Lease term
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