PTT Global Chemical Public Company Limited and its Subsidiaries For the year ended 31 December 2023 PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 61 12 Investment properties Consolidated financial statements Separate financial statements Land Buildings and buildings improvement Investment property under construction Total Land (in million Baht) Cost As at 1 January 2022 6,035 31 12 6,078 1,741 Transfers - 1 - 1 86 As at 31 December 2022 and 1 January 2023 6,035 32 12 6,079 1,827 Additions - - 1 1 - Transfers - 12 (12) - (531) As at 31 December 2023 6,035 44 1 6,080 1,296 Accumulated depreciation As at 1 January 2022 - 4 - 4 - Depreciation charge for the year - 2 - 2 - Transfers - (1) - (1) - As at 31 December 2022 and 1 January 2023 - 5 - 5 - Depreciation charge for the year - 3 - 3 - Transfers - (1) - (1) - As at 31 December 2023 - 7 - 7 - Net book value As at 31 December 2022 6,035 27 12 6,074 1,827 As at 31 December 2023 6,035 37 1 6,073 1,296 The fair value of investment properties of the Group as at 31 December 2023 of Baht 8,090 million (2022: Baht 7,372 million) was determined at open market values on an existing use basis and income approach. The fair value measurement for investment properties has been mainly categorised as Levels 2. The fair value of investment properties of the Company as at 31 December 2023 of Baht 2,396 million (2022: Baht 4,020 million) was determined at open market values on an existing use basis. The fair value measurement for investment properties has been categorised as a Level 2 fair value. Measurement of fair value Level 2 fair value The fair value of investment properties for land was determined by independent property valuers at open market values by scoring and weighted other different factors. Consolidated financial statements Separate financial statements Year ended 31 December 2023 2022 2023 2022 Amounts recognised in profit or loss (in million Baht) Rental income 141 157 158 195 305 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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