BIMB Integrated Annual Report 2019

16 INVESTMENT PROPERTIES (CONTINUED) Valuation processes applied by the Group for Level 3 fair value (continued) The investment method is the capitalisation of net rent from a property. Net rent is the residue of gross annual rent less annual expenses (outgoings) required to sustain the rent with allowance for void and management fees. The external valuers have considered the results of all these three methods in their valuation and applied professional judgement in the selection of the fair value of these investment properties. During the year, the external valuers performed an update of the market values of these investment properties in arriving at the fair value, after considering the properties’ existing condition. In the previous financial year, the external valuers have considered the results of all these three methods in their valuation and applied professional judgement in the selection of the fair value of these investment properties. 17 INTANGIBLE ASSETS Group Bancatakaful Note Software Service Fees Total Takaful RM’000 RM’000 RM’000 2019 Cost At 1 January 2019 – 146,321 146,321 Additions 2,189 2,500 4,689 At 31 December 2019 2,189 148,821 151,010 Amortisation At 1 January 2019 – (52,953) (52,953) Amortisation during the year 39 (97) (29,472) (29,569) At 31 December 2019 (97) (82,425) (82,522) Carrying amounts At 31 December 2019 2,092 66,396 68,488 2018 Cost At 1 January 2018 – 78,321 78,321 Additions – 68,000 68,000 At 31 December 2018 – 146,321 146,321 Amortisation At 1 January 2018 – (30,489) (30,489) Amortisation during the year 39 – (22,464) (22,464) At 31 December 2018 – (52,953) (52,953) Carrying amounts At 31 December 2018 – 93,368 93,368 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 (CONTINUED) 233 BIMB HOLDINGS BERHAD 199701008362 (423858-X) Shareholders’ Information Financial Statements Additional Information Disclosure Summary