10. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) As at 30 September 2025, the Group’s buildings with carrying amounts of $9,276,000 located in Chin Bee Drive and Fourth Chin Bee Road (2024: $10,170,000) has been pledged with banks for bank facilities (Note 26). As at 30 September 2025, the Group obtained an independent valuation of its buildings located at Chin Bee Drive and Fourth Chin Bee Road for impairment assessment purposes. The valuation was performed by an independent professional valuer using the market comparison approach, with reference to recent transactions of comparable industrial properties and adjusted for differences in location, tenure, floor area, age and condition. Based on the valuation, the aggregate fair value of these buildings was approximately $19,500,000 (2024: $20,800,000). This fair value measurement is categorised within Level 3 of the fair value hierarchy. Management assessed the recoverable amount of the buildings with reference to the valuation and concluded that no impairment loss was required as at 30 September 2025 and 2024. The buildings are not carried at revalued amounts and continue to be measured at cost less accumulated depreciation and accumulated impairment losses. 11. RIGHT-OF-USE ASSETS Group Land Equipment Motor vehicles Dormitories/ Office Total $’000 $’000 $’000 $’000 $’000 Cost Balance at 1 October 2023 6,269 448 680 2,178 9,575 Additions 29 – 141 – 170 Disposal/write-off – – (5) (37) (42) Balance at 30 September 2024 6,298 448 816 2,141 9,703 Additions 14 – 19 – 33 Disposal/write-off (814) – (383) (2,141) (3,338) Balance at 30 September 2025 5,498 448 452 – 6,398 Accumulated depreciation Balance at 1 October 2023 1,961 22 572 384 2,939 Depreciation 520 90 85 1,720 2,415 Disposal/write off – – (5) (37) (42) Balance at 30 September 2024 2,481 112 652 2,067 5,312 Depreciation 485 88 59 74 706 Disposal/write off (814) – (383) (2,141) (3,338) Balance at 30 September 2025 2,152 200 328 – 2,680 Net carrying amount At 30 September 2024 3,817 336 164 74 4,391 At 30 September 2025 3,346 248 124 – 3,718 Included in the above, motor vehicles with a carrying amount of $124,000 (2024: $164,000), is secured over the lease liabilities of $173,000 (2024: $208,000) (Note 27). The motor vehicles will be returned to lessor in the event of default by the Group. 12. INVESTMENTS IN SUBSIDIARIES Company 2025 2024 $’000 $’000 Unquoted equity share, at cost 24,204 24,573 Amount due from subsidiaries – Interest free 274 274 Allowance for impairment loss (3,339) (3,708) 21,139 21,139 ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 92 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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