17. INVESTMENT PROPERTIES Freehold land and buildings RM’000 Leasehold land and buildings RM’000 Construction in-progress (“CIP”) RM’000 Total RM’000 Group At 1 January 2025 161,689 232,430 20,991 415,110 Additions 745 2,644 11,867 15,256 Fair value adjustments: - (loss)/gain (Note 9) (2,897) 1,089 - (1,808) Transfer from property, plant and equipment (Note 14) - 113 - 113 Transfer from land held for property development (Note 16(a)) - - 82,039 82,039 Transfer from property development costs (Note 16(b)) - - 6,612 6,612 Disposal (3,148) - - (3,148) Adjustments1 - (971) (6,742) (7,713) At 31 December 2025 156,389 235,305 114,767 506,461 At 1 January 2024 134,387 1,202,414 110,965 1,447,766 Additions 1,570 - 14,488 16,058 Fair value adjustments: - gain (Note 6) 2,482 600 22,119 25,201 Disposal - (933,701) - (933,701) Transfer to property, plant and equipment (Note 14) - (184) - (184) Transfer from property development costs (Note 16(b)) - - 8,877 8,877 Transfer to assets classified as held for sale (Note 27) (9,750) (26,750) (102,458) (138,958) Reclassification 33,000 - (33,000) - Adjustment1 - (9,949) - (9,949) At 31 December 2024 161,689 232,430 20,991 415,110 On 23 July 2024, Tropicana Indah Sdn Bhd, an indirect 70% owned subsidiary of the Group, entered into a sale and purchase agreement with IOI Mall Damansara Sdn Bhd, for the disposal of Tropicana Gardens Mall (“Mall”), a shopping centre which situated on a strata titled leasehold land with a gross floor area measuring approximately 274,120 square metres and a net lettable floor area measuring approximately 97,651 square metres, including all fixtures, fittings, equipment, machinery, systems and all other appurtenant thereto affixed to or installed in or within the Mall for total consideration of RM680,000,000.The said disposal has been completed in the financial year ended 31 December 2024 upon fulfillment of conditions precedent. 295
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