H entered into a contract for its campus.These are the terms of the contract:

It will sell the campus on 31/1/2021 for RM30 million.This deal is highly probable on this date.

It will be lease back immediately for 10 years at the market rate of RM26 million.Fair value for a similar campus is unlikely to change now and in the near future.

H depreciates the campus at 5% per annum using reducing balance method.

H is expected to upgrade the campus for RM2 million by 31/12/2020, although there is no legal commitment to do so.During the year ended 31/12/2019, H debited this sum to the profit & loss account, and credited the net book value of the asset.The net book value after depreciation and upgrade is RM18 million at at 31/12/2019.

You are required to discuss whether H has accounted the campus correctly for the year ended 31/12/2019 according to relevant IASs/IFRSs.