NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) FINANCIAL STATEMENTS 5. Investment properties (CONT’D) Leasehold buildings Total RM’000 RM’000 Company Cost At 1 January 2021/31 December 2021 115,989 115,989 Transfer from property and equipment 14,572 14,572 At 31 December 2022 130,561 130,561 Accumulated depreciation At 1 January 2021 8,205 8,205 Charge for the financial year 2,320 2,320 At 31 December 2021 10,525 10,525 Charge for the financial year 2,320 2,320 Transfer from property and equipment 1,287 1,287 At 31 December 2022 14,132 14,132 Carrying amount At 31 December 2022 116,429 116,429 At 31 December 2021 105,464 105,464 (a) The investment properties of the Group and of the Company 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: Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Within 1 year 1,215 1,452 2,326 5,775 Between 1 and 2 years 601 1,059 1,131 4,601 Between 2 and 3 years - 454 24 568 1,816 2,965 3,481 10,944 (b) Certain investment properties have been pledged to a licensed bank as security for banking facilities granted to the Group and the Company as disclosed in Note 27 to the financial statements. (c) Fair value measurement There are no Level 1 investment properties during the financial years ended 31 December 2022 and 31 December 2021. There was transfer for investment properties between Level 2 and Level 3 due to change of valuation method during the financial year 31 December 2022. 187
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