Page 441 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

Central Retail Corporation Public Company Limited and its Subsidiaries
Notes to the financial statements
For the year ended 31 December 2021

14 Investment properties

Consolidated
financial statements
Note 2021 2020
(in million Baht)
Cost
At 1 January 22,076 20,282
Additions 163 17
Transfer from property, plant and equipment and
right-of use assets 15,16 2,360 1,802
Disposals (256) (14)
Effect of movements in exchange rates 830 (11)
At 31 December 25,173 22,076

Depreciation
At 1 January 8,269 7,486
Depreciation charge for the year 1,134 978
Transfer from property, plant and equipment and right-
of use assets 15,16 (464) (180)
Disposals (219) (13)
Effect of movements in exchange rates 169 (2)
At 31 December 8,889 8,269

Net book value
At 31 December 16,284 13,807

Information relating to leases are disclosed in notes 17 and 18.

The fair value of investment properties as at 31 December 2021 of Baht 26,454 million (2020: Baht
30,254 million) was determined by independent professional valuers, at open market values on an
existing use basis and discounted cash flow using risk-adjusted discount rates. The fair value of
investment property has been categorised as a Level 3 fair value.

Annual Report 2021 (Form 56-1 One-Report) 441
51