INVESTMENT PROPERTIES. In Thousand Baht
INVESTMENT PROPERTIES. With respect to each Mortgage Loan originated for investment purposes (including Agency Mortgage Loans described in clause (1)(b)(i) of the definition thereof), the related Mortgaged Property is solely for use as an investment property and Seller has provided Buyer or its designee with a statement from the Mortgagor certifying such purposes as well as other checks as agreed to between Seller and Buyer as determined through due diligence. Such Mortgage Loan was not originated primarily for a personal, family or household purpose, as defined in the Truth in Lending Act and its implementing Regulation Z, and such Mortgage Loans was originated for business purposes. The Mortgaged Property securing the related Mortgage (i) is non-owner occupied, and (ii) is one or more parcels of real property with a detached single family residence erected thereon, or a two- to four- family dwelling. The related Mortgagor does not intend to, and will not, occupy the Mortgaged Property for more than fourteen (14) calendar days during any one (1) calendar year. In connection with the origination of the Mortgage Loan, the related Mortgagor certified to the applicable Originator that such Mortgaged Property is non-owner occupied.
INVESTMENT PROPERTIES. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at March 31, 2020 (For the three-month) As at December 31, 2019 (For the year) As at March 31, 2020 (For the three-month) As at December 31, 2019 (For the year) Beginning balance 419,880 451,650 375,610 412,040 Transfer - - - - Less Unrealised gain (loss) from a fair value adjustment - (31,770) - (36,430) Ending balance 419,894 419,880 375,624 375,610 Investment properties were revalued as at December 31, 2019 by a firm of independent valuers, using the income approach. Investment properties mainly comprise shopping malls, space for rent and construction in progress. As at March 31, 2020 and December 31, 2019, the Company mortgaged certain investment properties as collateral to secure the loan and credit facilities granted by the financial institutions.
INVESTMENT PROPERTIES. Investment properties pertain to land, buildings or condominium units acquired by the Group, in settlement of loans from defaulting borrowers through foreclosure or dacion in payment and properties which are held for rental. The gross carrying amounts and accumulated depreciation and impairment losses of investment properties at the beginning and end of 2017 and 2016 are shown below. Group Parent Company Land Buildings Total Land Buildings Total December 31, 2017 Cost P 2,472 P 1,534 P 4,006 P 995 P 2,005 P 3,000 Accumulated depreciation Accumulated impairment (see Note 16) - ( 58 ) ( 549 ) - ( 549 ) ( 58 ) - ( - 215 ) - ( 215 ) - Net carrying amount P 2,414 P 985 P 3,399 P 995 P 1,790 P 2,785 December 31, 2016 Cost P 1,389 P 2,492 P 3,881 P 1,000 P 2,019 P 3,019 Accumulated depreciation Accumulated impairment (see Note 16) - ( 34 ) ( 618 ) - ( 618 ) ( 34 ) - ( - 203 ) - ( 203 ) - Net carrying amount P 1,355 P 1,874 P 3,229 P 1,000 P 1,816 P 2,816 January 1, 2016 Cost P 1,853 P 1,901 P 3,754 P 1,006 P 2,008 P 3,014 Accumulated depreciation Accumulated impairment (see Note 16) - ( 70 ) ( 314 ) - ( 314 ) ( 70 ) - ( - 131 ) - ( 131 ) - Net carrying amount P 1,783 P 1,587 P 3,370 P 1,006 P 1,877 P 2,883 The reconciliations of the carrying amounts of investment properties at the beginning and end of 2017 and 2016 follow: Group Parent Company 0000 0000 0000 0000 Balance at January 1, net of accumulated depreciation and impairment P 3,229 P 3,370 P 2,816 P 2,883 Additions 2,360 559 19 46 Disposals ( 1,822 ) ( 430 ) ( 7 ) ( 71 ) Impairment losses Depreciation charges ( 79 ) ( 34 ) - - for the year ( 289 ) ( 236 ) ( 43 ) ( 42 ) Balance at December 31, net of accumulated depreciation and impairment P 3,399 P 3,229 P 2,785 P 2,816 As of December 31, 2017 and 2016, there is no restriction on the realizability of investment properties or the remittance of income and proceeds of disposal therefrom.
INVESTMENT PROPERTIES. Property that is held for long term rental yields or for capital appreciation or both, and that being not occupied by the companies of the Target Group Companies, shall be classified as investment property. Investment property shall comprise leasehold land and buildings. Land held under operating leases shall be classified and accounted for as investment property when the rest of the definition of investment property is met. The operating lease shall be accounted for as if it were a finance lease. Investment properties shall be measured initially at cost, including related transaction costs. After initial recognition, investment properties shall be carried at fair value representing open market value determined at each reporting date by external valuers. Fair value shall be based on active market prices, adjusted, if necessary, for any difference in the nature, location or condition of the specific asset. If the information is not available, the Target Group Companies shall use alternative valuation methods such as recent prices on less active markets or discounted cash flow projections. Change in fair value shall be recognised in the consolidated income statement. The fair value of investment properties shall reflect, among other things, rental income from current leases and assumptions about rental income from future leases in the light of current market conditions. Subsequent expenditure shall be charged to the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Target Group Companies and the cost of the item can be measured reliably. All other repair and maintenance costs shall be expensed in the consolidated income statement during the financial period in which they are incurred. If an investment property becomes owner-occupied, it shall be reclassified as property, plant and equipment, and its fair value at the date of reclassification becomes its cost for accounting purposes. If an item of property, plant and equipment becomes an investment property because its use has changed, any difference resulting between the carrying amount and the fair value of this item at the date of transfer shall be recognised in other comprehensive income as properties revaluation reserve under HKAS 16. However, if a fair value gain reverses a previous impairment loss, the gain shall be recognised in the consolidated income statement. Properties revaluation reserve, including any previously recognised, ...
INVESTMENT PROPERTIES. As at December 31, 2021 and 2020 consist of: Unit : Thousand Baht Consolidated Financial Statements/ Separate Financial Statements 2021 2020 Cost 8,000 8,000 Less Accumulated allowance impairment (160) (400) Net book value 7,840 7,600 During the year, the Group hired an independent appraiser to reassess the fair value of the property by using the Market Approach and found that the fair value of such investment property has increased. As a result, the recoverable value of the property increased as well. Therefore, the management considered reversing the allowance for impairment of the investment property amounted to Baht 0.24 million.
INVESTMENT PROPERTIES. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September 30, 2021 (For the nine-month) As at December 31, 2020 (For the year) As at September 30, 2021 (For the nine-month) As at December 31, 2020 (For the year) Beginning balance 394,614 419,880 355,814 375,610 Transfer - - - - Less Unrealised gain (loss) from a fair value adjustment - (25,280) - (19,810) Ending balance 394,614 394,614 355,814 355,814 Revenue and expense related to investment property recognized in profit and loss consist of : In Thousand Baht For the nine-month period ended September 30, 2021 Consolidated Financial Statements Separate Financial Statements Rental income 9,992 7,514 Utilities 6,215 4,964 Investment properties were revalued as at December 31, 2020 by a firm of independent valuers, using the income approach. Investment properties mainly comprise shopping malls, space for rent and construction in progress. As at September 30, 2021 and December 31, 2020, the Company mortgaged certain investment properties as collateral to secure the loan and credit facilities granted by the financial institutions.
INVESTMENT PROPERTIES. As at December 31, 2022 and 2021, this account consisted of: Unit : Thousand Baht Consolidated Financial Statements/ Separate Financial Statements 2022 2021 Cost 8,000 8,000 Less Accumulated allowance impairment (160) (160) Net book value 7,840 7,840 As at December 31, 2022 and 2021, the Company's investment properties have value of Baht 7.84 million was appraised by an independent appraiser appraised during the year 2021 by using the Market Approach. In 2022, the Group did not hire an independent appraiser to appraise the investment properties value. This is in accordance with the policy that the management considers to appraise the value for with in 2 years per 1 time.
INVESTMENT PROPERTIES. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at December 31, 2020 As at December 31, 2019 As at December 31, 2020 As at December 31, 2019 Beginning balance 419,880 451,650 375,610 412,040 Transfer - - - - Less Unrealised gain (loss) loss from a fair value adjustment (25,280) (31,770) (19,810) (36,430) Ending balance 394,614 419,880 355,814 375,610 Revenue and expense related to investment property recognized in profit and loss consist of : In Thousand Baht Consolidated Financial Statements Separate Financial Statements 2020 2019 2020 2019 Rental income 16,399 20,629 12,493 16,117 Utilities 7,734 10,238 5,721 7,723 Investment properties were revalued as at December 31, 2020 and 2019 by a firm of independent valuers, using the income approach. Investment properties mainly comprise shopping malls, space for rent and construction in progress. As at December 31, 2020 and 2019, the Group mortgaged certain investment properties as collateral to secure the loan and credit facilities granted by the financial institutions. Measurement of fair value :- Fair value hierarchy The fair value of investment property was determined by external, independent property valuers, having appropriate recognised professional qualifications and recent experience in the location and category of the property being valued. The independent valuers provide the fair value of the Group’s investment property portfolio on an annual basis. The fair value measurement for investment properties of the Group and the Company as at December 31, 2020 amount of Baht 361.31 million and Baht 322.51 million, respectively, and as at December 31, 2019 amount of Baht 386.59 million and Baht 342.32 million, respectively, have been categorised as a Level 3 fair value based on the inputs to the valuation technique used. Fair value method Level 3 The following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values. In Thousand Baht Consolidated Financial Statements Separate Financial Statements 2020 (For the year) 2019 (For the year) 2020 (For the year) 2019 (For the year) Balance at January 1, 386,590 418,360 342,320 378,750 Unrealised change in fair value (25,280) (31,770) (19,810) (36,430) Balance at December 31, 361,310 386,590 322,510 342,320 Valuation technique and significant unobservable inputs The following table shows the valuation technique used in measuring the fair value of investment property of the Group, as we...
INVESTMENT PROPERTIES. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September 30, 2020 (For the nine-month) As at December 31, 2019 (For the year) As at September 30, 2020 (For the nine-month) As at December 31, 2019 (For the year) Beginning balance 419,880 451,650 375,610 412,040 Transfer - - - - Less Unrealised gain (loss) from a fair value adjustment - (31,770) - (36,430) Ending balance 419,894 419,880 375,624 375,610 Revenue and expense related to investment property recognized in profit and loss consist of : In Thousand Baht For the three-month period ended September 30, 2020 For the nine-month period ended September 30, 2020 Consolidated Financial Statements Separate Financial Statements Consolidated Financial Statements Separate Financial Statements Rental income 4,087 3,092 12,522 9,499 Utilities 1,849 1,359 5,914 4,309 Investment properties were revalued as at December 31, 2019 by a firm of independent valuers, using the income approach. Investment properties mainly comprise shopping malls, space for rent and construction in progress. As at September 30, 2020 and December 31, 2019, the Company mortgaged certain investment properties as collateral to secure the loan and credit facilities granted by the financial institutions.
