04 Annual Report 2022 Hotel and Property Investment For FY2022, this division recorded a higher revenue of RM30.0 million (FY2021: RM23.9 million) and profit before tax of RM10.5 million (FY2021: RM1.0 million) mainly due to inclusion of fair value gain of investment properties of RM2.4 million in the current year as compared to fair value loss of investment properties of RM5.0 million in the preceding year and an increase in revenue and gross profit from the hotel division with average occupancy rate of 55% in the current year as compared to the preceding year of 17% (lower due to Movement Control Order) following the resumption of economic activities. Artist's Impression of TR2 Residence @ Jalan Tun Razak with transit-oriented development concept Management Discussion & Analysis Report 28
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