| Investment properties are properties held to earn rental income and/or for capital appreciation. Investment properties are initially recognised at cost, including directly attributable transaction costs.
Subsequent to initial recognition, investment properties are measured at fair value at each reporting date. Fair value is determined based on management’s assessment, taking into account recent market conditions, comparable property transactions, and specific factors relating to the property, such as current tenancy arrangements, condition, and location.
Where appropriate, management refers to external market data and other available evidence to support its assessment. Formal external valuations are not obtained annually unless deemed necessary due to significant changes in market conditions or property-specific events.
Changes in fair value are recognised in the profit and loss account in the period in which they arise. |