(b) On 1 Jan 2019, Xiplex acquired Steamy, a company that operates a scenic railway along the coast of a popular tourist area. The summarized statement of financial position at fair value of Steamy on 1 Jan 2019, reflecting the terms of the acquisition, is shown below: RM'000 Goodwill Operating licence (at cost) 200 Property: Train stations and land (at cost) Rail track and coaches (at cost) Two steam engines (net) Purchase consideration 1,200 300 300 1,000 3,000 The operating licence is for 10 years. It was renewed on 1 Jan 2019 by the transport authority and is stated at the cost of its renewal. The carrying amounts of the property, rail track and coaches are based on their cost. The engines are valued at their net selling prices. On 1 Feb 2019, the boiler of one of the steam engines exploded, completely destroying the whole engine. Fortunately, no one was injured, but the engine was beyond repair. Due to its age, a replacement could not be obtained. Due to the reduced passenger capacity, the estimated value in use of the whole of the business after the accident was assessed at RM2 million.