MKH BERHAD | ANNUAL REPORT 2023 269 46. FAIR VALUE HIERARCHY (CONT’D) Fair value reconciliation of investment properties measured at Level 3 are as follows: The Group Factory lot Commercial properties Office and shoplot Education centre Total RM RM RM RM RM 2023 Investment properties At beginning of year - 273,021,000 49,355,000 45,000,000 367,376,000 Transfer from property, plant and equipment 6,070,636 - - - 6,070,636 Fair value gains on transfer of property, plant and equipment to investment properties 2,803,098 - - - 2,803,098 Changes in fair values - (883,000) (10,000) - (893,000) Effect of movements in exchange rate 12,266 - - - 12,266 At end of year 8,886,000 272,138,000 49,345,000 45,000,000 375,369,000 2022 Investment properties At beginning of year - 270,181,000 29,060,000 45,000,000 344,241,000 Transfer from inventories - - 17,749,731 - 17,749,731 Fair value gains on transfer of inventories to investment properties - - 2,950,269 - 2,950,269 Changes in fair values - 2,840,000 (405,000) - 2,435,000 At end of year - 273,021,000 49,355,000 45,000,000 367,376,000 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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