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Muang Thai Life Assurance Public Company LimitedNotes to the financial statements for the year ended 31 December 202410 Investment properties(in thousand Baht)Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 20244610 Investment properties Financial statements in which the equity method is applied and separate financial statements Property held for lease Properties under held for lease development Total (in thousand Baht)Cost At 1 January 2023 5,580,078 3,292 5,583,370Increases 5,659 78,961 84,620Disposals (14,717) - (14,717)Transfers 34,472 (34,472) -At 31 December 2023 and 1 January 2024 5,605,492 47,781 5,653,273 Increases 51,211 - 51,211Disposals - (1,863) (1,863)Transfers 45,918 (45,918) -At 31 December 2024 5,702,621 - 5,702,621 Accumulated depreciation At 1 January 2023 902,903 - 902,903Depreciation charge for the year 704,666 - 704,666Disposals (507,897) - (507,897)At 31 December 2023 and 1 January 2024 1,099,672 - 1,099,672 Depreciation charge for the year 213,249 - 213,249At 31 December 2024 1,312,921 - 1,312,921 Net book valueAt 31 December 2023 and 1 January 2024 4,505,820 47,781 4,553,601 At 31 December 2024 4,389,700 - 4,389,700 As of 31 December 2024, the fair value of properties held for lease is Baht 5,480.1 million (2023: Baht 5,371.1 million) as revalued by an independent professional valuer, who is a qualified as professional and has appropriate experiences by using income approach based on highest and best use assumptions. The Company categorised the fairvalue into Level 3 of fair value hierarchy.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 20244610 Investment properties Financial statements in which the equity method is applied and separate financial statements Property held for lease Properties under held for lease development Total (in thousand Baht)Cost At 1 January 2023 5,580,078 3,292 5,583,370Increases 5,659 78,961 84,620Disposals (14,717) - (14,717)Transfers 34,472 (34,472) -At 31 December 2023 and 1 January 2024 5,605,492 47,781 5,653,273 Increases 51,211 - 51,211Disposals - (1,863) (1,863)Transfers 45,918 (45,918) -At 31 December 2024 5,702,621 - 5,702,621 Accumulated depreciation At 1 January 2023 902,903 - 902,903Depreciation charge for the year 704,666 - 704,666Disposals (507,897) - (507,897)At 31 December 2023 and 1 January 2024 1,099,672 - 1,099,672 Depreciation charge for the year 213,249 - 213,249At 31 December 2024 1,312,921 - 1,312,921 Net book valueAt 31 December 2023 and 1 January 2024 4,505,820 47,781 4,553,601 At 31 December 2024 4,389,700 - 4,389,700 As of 31 December 2024, the fair value of properties held for lease is Baht 5,480.1 million (2023: Baht 5,371.1 million) as revalued by an independent professional valuer, who is a qualified as professional and has appropriate experiences by using income approach based on highest and best use assumptions. The Company categorised the fairvalue into Level 3 of fair value hierarchy.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 20244610 Investment properties Financial statements in which the equity method is applied and separate financial statements Property held for lease Properties under held for lease development Total (in thousand Baht)Cost At 1 January 2023 5,580,078 3,292 5,583,370Increases 5,659 78,961 84,620Disposals (14,717) - (14,717)Transfers 34,472 (34,472) -At 31 December 2023 and 1 January 2024 5,605,492 47,781 5,653,273 Increases 51,211 - 51,211Disposals - (1,863) (1,863)Transfers 45,918 (45,918) -At 31 December 2024 5,702,621 - 5,702,621 Accumulated depreciation At 1 January 2023 902,903 - 902,903Depreciation charge for the year 704,666 - 704,666Disposals (507,897) - (507,897)At 31 December 2023 and 1 January 2024 1,099,672 - 1,099,672 Depreciation charge for the year 213,249 - 213,249At 31 December 2024 1,312,921 - 1,312,921 Net book valueAt 31 December 2023 and 1 January 2024 4,505,820 47,781 4,553,601 At 31 December 2024 4,389,700 - 4,389,700 As of 31 December 2024, the fair value of properties held for lease is Baht 5,480.1 million (2023: Baht 5,371.1 million) as revalued by an independent professional valuer, who is a qualified as professional and has appropriate experiences by using income approach based on highest and best use assumptions. The Company categorised the fairvalue into Level 3 of fair value hierarchy.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 20244610 Investment properties Financial statements in which the equity method is applied and separate financial statements Property held for lease Properties under held for lease development Total (in thousand Baht)Cost At 1 January 2023 5,580,078 3,292 5,583,370Increases 5,659 78,961 84,620Disposals (14,717) - (14,717)Transfers 34,472 (34,472) -At 31 December 2023 and 1 January 2024 5,605,492 47,781 5,653,273 Increases 51,211 - 51,211Disposals - (1,863) (1,863)Transfers 45,918 (45,918) -At 31 December 2024 5,702,621 - 5,702,621 Accumulated depreciation At 1 January 2023 902,903 - 902,903Depreciation charge for the year 704,666 - 704,666Disposals (507,897) - (507,897)At 31 December 2023 and 1 January 2024 1,099,672 - 1,099,672 Depreciation charge for the year 213,249 - 213,249At 31 December 2024 1,312,921 - 1,312,921 Net book valueAt 31 December 2023 and 1 January 2024 4,505,820 47,781 4,553,601 At 31 December 2024 4,389,700 - 4,389,700 As of 31 December 2024, the fair value of properties held for lease is Baht 5,480.1 million (2023: Baht 5,371.1 million) as revalued by an independent professional valuer, who is a qualified as professional and has appropriate experiences by using income approach based on highest and best use assumptions. The Company categorised the fairvalue into Level 3 of fair value hierarchy.Muang Thai Life Assurance Public Company LimitedNotes to the financial statementsFor the year ended 31 December 20244610 Investment properties Financial statements in which the equity method is applied and separate financial statements Property held for lease Properties under held for lease development Total (in thousand Baht)Cost At 1 January 2023 5,580,078 3,292 5,583,370Increases 5,659 78,961 84,620Disposals (14,717) - (14,717)Transfers 34,472 (34,472) -At 31 December 2023 and 1 January 2024 5,605,492 47,781 5,653,273 Increases 51,211 - 51,211Disposals - (1,863) (1,863)Transfers 45,918 (45,918) -At 31 December 2024 5,702,621 - 5,702,621 Accumulated depreciation At 1 January 2023 902,903 - 902,903Depreciation charge for the year 704,666 - 704,666Disposals (507,897) - (507,897)At 31 December 2023 and 1 January 2024 1,099,672 - 1,099,672 Depreciation charge for the year 213,249 - 213,249At 31 December 2024 1,312,921 - 1,312,921 Net book valueAt 31 December 2023 and 1 January 2024 4,505,820 47,781 4,553,601 At 31 December 2024 4,389,700 - 4,389,700 As of 31 December 2024, the fair value of properties held for lease is Baht 5,480.1 million (2023: Baht 5,371.1 million) as revalued by an independent professional valuer, who is a qualified as professional and has appropriate experiences by using income approach based on highest and best use assumptions. The Company categorised the fairvalue into Level 3 of fair value hierarchy.Financial statements in which the equity methodis applied and separate financial statementsPropertiesheld for leaseProperty heldfor lease underdevelopment TotalAnnual Report 2024 I Muang Thai Life Assurance PCL 179