MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 196 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 9. INVESTMENT PROPERTIES The Group The Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Cost:- At 1 January/31 December 32,654 32,654 115,989 115,989 Accumulated depreciation:- At 1 January (2,341) (1,688) (8,205) (5,885) Depreciation during the financial year (Note 37) (653) (653) (2,320) (2,320) At 31 December (2,994) (2,341) (10,525) (8,205) 29,660 30,313 105,464 107,784 Represented by:- Buildings: - at cost 29,660 30,313 105,464 107,784 - fair value 34,949 34,273 119,988 117,665 (a) The investment properties of the Group are leased to customers under operating leases with rental payable monthly. The leases contain initial non-cancellable periods ranging from 1 to 3 years. As at the reporting date, the future minimum rental receivable under the non-cancellable operating leases are as follows:- The Group The Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Within 1 year 1,452 1,210 5,775 5,706 Between 1 and 2 years 1,059 726 4,601 4,715 Between 2 and 3 years 454 333 568 3,541 2,965 2,269 10,944 13,962 (b) Certain investment properties have been pledged to a licensed bank as security for banking facilities granted to the Group as disclosed in Note 28 to the financial statements. (c) The fair values of the investment properties are within level 2 of the fair value hierarchy and are arrived at by reference to market evidence of transaction prices for similar properties, locations and category of properties. The most significant input into this valuation approach is the price per square foot of comparable properties. There have been no changes in the valuation technique during the financial year. (d) Investment properties of the Company comprise buildings that are leased to companies within the Group to earn rental income. They are accounted for as property and equipment at the Group.
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