179 ANNUAL REPORT 2022 3. Significant accounting judgements and estimates (cont’d.) 3.2 Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities of the Fund within the next financial year are discussed below: Fair value of investment properties The Group and the Fund carry their investment properties at fair value, with changes in fair values being recognised in profit or loss. The Group and the Fund had engaged an independent professional valuer to determine the fair value and there are no material events that affect the valuation between the valuation date and financial year end. The determined fair value of the investment properties by the independent professional valuer is most sensitive to the estimated yield rate and discount rate. The range of the yield rate and the discount rate used in the valuation is described in Note 10. The following table demonstrates the sensitivity of the fair value measurement to changes in estimated term yield rate, discount rate and its corresponding sensitivity result in a higher or lower fair value measurement: Fair value Increase/(decrease) 2022 RM 2021 RM Yield rate - 0.25% 9,210,000 28,732,000 + 0.25% (10,360,000) (32,363,000) Discount rate - 0.25% 36,330,000 10,011,000 + 0.25% (32,760,000) (15,498,000) 4. Gross rental income Group Fund 2022 RM 2021 RM 2022 RM 2021 RM Rental income: - Base rental income 59,699,698 61,544,366 59,699,698 61,544,366 - Unbilled rental income 3,593,176 3,734,166 3,593,176 3,734,166 Percentage rent 1,774,232 558,467 1,774,232 558,467 Service charges 2,834,039 3,161,221 2,834,039 3,161,221 67,901,145 68,998,220 67,901,145 68,998,220 NOTES TO THE FINANCIAL STATEMENTS 31 December 2022 (cont’d.)
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