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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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