TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
75
NOTES TO THE FINANCIAL STATEMENTS
4.
Investment properties
Freehold
land
Long term
leasehold
land Buildings
Total
RM’000
RM’000
RM’000
RM’000
Group
At 1 January 2013
33,524
5,690
12,765
51,979
Transfer
* (12,300)
-
-
(12,300)
Change in fair value recognised in profit or loss
4,620
283
89
4,992
At 31 December 2013/1 January 2014
25,844
5,973
12,854
44,671
Transfer
* 112,514
-
* 8,138
120,652
Change in fair value recognised in profit or loss
4,038
697
3,020
7,755
At 31 December 2014
142,396
6,670
24,012
173,078
*
Transferred from/(to) Property, plant and equipment (Note 3).
Fair value information
Fair value of investment properties are categorised as follows:
Level 1
Level 2
Level 3
Total
RM’000
RM’000
RM’000
RM’000
Group
2014
Freehold land
-
-
142,396
142,396
Long term leasehold land
-
-
6,670
6,670
Buildings
-
-
24,012
24,012
-
-
173,078
173,078
2013
Freehold land
-
-
25,844
25,844
Long term leasehold land
-
-
5,973
5,973
Buildings
-
-
12,854
12,854
-
-
44,671
44,671
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.
Valuation process applied by the Group
The fair value of investment properties is determined by external, independent property valuers, having appropriate
recognised professional qualifications and recent experience in the location and category of property being valued.
