187 ANNUAL REPORT 2022 NOTES TO THE FINANCIAL STATEMENTS 31 December 2022 (cont’d.) 10. Investment properties (cont’d.) Description of property Tenure of land Term of lease Years Remaining term of lease Years Location Date of valuation 2022 Fair value RM 2021 Fair value RM Fair value hierarchy 6. QSR Properties: Restaurant in shop lots (cont’d.) Restaurants with drive-through facility (cont’d.) ll. KFC # Leasehold 991 889 Skudai, Johor 31/12/2022 9,400,000 8,000,000 3 mm. KFC # Freehold - - Georgetown, Penang 31/12/2022 26,000,000 24,000,000 3 nn. Pizza Hut and KFC # Freehold - - Kepala Batas, Penang 31/12/2022 7,800,000 6,900,000 3 oo. Pizza Hut and KFC # Leasehold 99 86 Puchong PerdanaSelangor 31/12/2022 15,100,000 15,100,000 3 pp. Pizza Hut and KFC # Freehold - - SerembanNegeri Sembilan 31/12/2022 8,500,000 8,400,000 3 qq. KFC # Leasehold 99 89 Jasin, Melaka 31/12/2022 4,300,000 4,000,000 3 7. Warehouse and factory rr. Warehouse ## Freehold - - Simpant Ampat Penang 31/12/2022 1,600,000 1,600,000 3 ss. Warehouse and factory # Leasehold 99 74 Kota Kinabalu, Sabah 31/12/2022 3,000,000 3,000,000 3 tt. Warehouse ## Leasehold 99 65 Pelabuhan Klang, Selangor 31/12/2022 50,000,000 47,200,000 3 uu. Warehouse and factory ## Leasehold 99 65 Pelabuhan Klang, Selangor 31/12/2022 28,000,000 26,700,000 3 vv. Warehouse and factory ### Freehold - - Shah Alam, Selangor 31/12/2022 63,000,000 59,100,000 3 ww. Warehouse # Leasehold 999 879 Kota Kinabalu, Sabah” 31/12/2022 4,700,000 3,800,000 3 1,224,173,346 1,177,236,522 # The investment properties amounting to RM165,070,000 (2021: RM152,658,000) are used to secure against Term Financing-I (“TF-i”) issued by the Fund as disclosed in Note 17. ## The investment properties amounting to RM939,103,346 (2021: RM911,878,522) are used to secure against Islamic Medium Term Notes (“IMTNs”) issued by the subsidiary as disclosed in Note 17. ### The investment properties amounting to RM102,700,000 (2021: RM96,900,000) are used to secure against Business Financing-I (“BF-I”) issued by the Fund as disclosed in Note 17. #### Restaurant with drive-through facility: Pizza Hut and KFC Off Jalan Kepong, Kuala Lumpur, amounting of RM17,300,000 (2021: RM15,800,000) are used to secure against Commodity Murabahah Revolving Credit (“CMRC”). * Based on valuation carried out by independent professional valuer, Messrs. Cheston.
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