Question
Magenta Bhd started business many years ago. Over the years, the company has successfully acquired several properties. Given below is a list of properties owned
Magenta Bhd started business many years ago. Over the years, the company has
successfully acquired several properties. Given below is a list of properties owned by
Magenta Bhd:
1. A piece of land in Klang that Magenta Bhd has not developed.
2. A commercial office building in Putrajaya which will be leased out under an
operating lease.
3. A property currently under construction on behalf of third parties.
4. Residential properties which are held to be leased out under a finance lease.
Required:
Identify whether the above properties would qualify as Investment Property according
to MFRS 140 Investment Property.
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