Page 237 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS in retrospect

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for the financial year ended 31 december 2020 (continUed)
the Will to Suceed

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16 INVESTMENT PROPERTIES (CONTINUED)
the following are amounts arising from investment properties that have been recognised in profit or loss during the financial
year: achieving a leading repute
Group
2020 2019
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RM’000 RM’000
rental income (net of direct operating expenses) 5,382 5,399

Level 3 Paving the Way for a Sustainable future
RM’000
2020
freehold land and buildings 2,690
leasehold land and buildings 10,087
12,777
231

2019
adhering to the best Governance Practices
freehold land and buildings 2,680
leasehold land and buildings 10,062

12,742

policy on transfer between levels
the fair value of an asset to be transferred between levels is determined as of the date of the event or change in circumstances
that caused the transfer. |
Fair value information

Level 1 fair value
level 1 fair value is derived from quoted price (unadjusted) in active markets for identical investment properties that the entity Laying the Foundation for Financial Growth
can access at the measurement date.

Level 2 fair value
level 2 fair value is estimated using inputs other than quoted prices included within level 1 that are observable for the investment
property, either directly or indirectly. |

level 2 fair values of land and buildings have been generally derived using the sales comparison approach. Sales price of
comparable properties in close proximity are adjusted for differences in key attributes such as property size. the most significant
input into this valuation approach is price per square foot of comparable properties.
Transfer between Level 1 and 2 fair values additional information & disclosure Summary
there is no transfer between level 1 and 2 fair values during the financial year.

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24 th aGm information