Fraser & Neave Holdings Bhd Annual Report 2021

5. INVESTMENT PROPERTIES Group 2021 RM’000 2020 RM’000 At fair value – Buildings 47,569 47,569 At 1 October 2020/2019 47,569 48,775 Change in fair value recognised in profit or loss – (1,206) At 30 September 47,569 47,569 Investment properties comprise commercial property and car park that are leased to third parties. Each of the lease contains an initial non- cancellable period of two to three years and subsequent renewals are negotiated with the lessee. No contingent rents are charged. The Group does not charge variable lease payments that do not depend on an index or rate. The following are recognised in profit or loss in respect of investment properties: Group 2021 RM’000 2020 RM’000 Lease income 146 337 Direct operating expenses – income generating investment properties (738) (635) – non-income generating investment properties (527) (482) FAIR VALUE INFORMATION Fair values of investment properties are categorised as follows: Group 2021 Level 3 RM’000 2020 Level 3 RM’000 Buildings 47,569 47,569 196 NOTES TO THE F INANCIAL STATEMENTS