Annual Report 2025

226 Transport International Holdings Limited 2025 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 14 Investment properties and investment property under development (a) Movements during the year Investment properties Investment property under development Total $’000 $’000 $’000 Valuation: At 1 January 2025 5,361,800 2,911,500 8,273,300 Additions – 45,527 45,527 Transfer to investment properties upon completion 2,957,027 (2,957,027) – Decrease in fair value, net (141,827) – (141,827) At 31 December 2025 8,177,000 – 8,177,000 Investment properties Investment property under development Total $’000 $’000 $’000 Valuation: At 1 January 2024 5,406,500 2,805,000 8,211,500 Additions – 140,000 140,000 Decrease in fair value, net (44,700) (33,500) (78,200) At 31 December 2024 5,361,800 2,911,500 8,273,300 (b) Fair value measurement The following table presents the fair value of the Group’s investment properties and investment property under development at the end of the reporting period on a recurring basis, categorised into the three-level fair value hierarchy as defined in HKFRS 13, Fair value measurement. The level into which a fair value measurement is classified is determined with reference to the observability and significance of the inputs used in the valuation technique as follows: – Level 1 valuations: Fair value measured using only Level 1 inputs i.e. unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date – Level 2 valuations: Fair value measured using Level 2 inputs i.e. observable inputs which fail to meet Level 1, and not using significant unobservable inputs. Unobservable inputs are inputs for which market data are not available – Level 3 valuations: Fair value measured using significant unobservable inputs