Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

14. Investment Properties (Details - Unobservable inputs)

v3.19.1
14. Investment Properties (Details - Unobservable inputs) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 29,801,631 $ 33,829,902 $ 35,786,053
Buccinasco, Via Lucania 2-4-6 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 18,077,566 $ 18,982,736 $ 16,492,776
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 92 per sq meter $ 96 per sq. meter $88 per sq. meter
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 8.60% 8.50% 8.56%
Cap rate 7.45% 7.50% 7.50%
Buccinasco, Via Privata Mulino 24 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 1,065,408 $ 1,130,068 $ 981,336
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 203 per sq meter $ 213 per sq. meter $185 per sq. meter
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 7.40% 7.30% 7.36%
Cap rate 6.90% 6.90% 6.90%
Buccinasco, Via Lazio 95 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 1,558,015 $ 3,907,149 $ 3,703,752
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 76 per sq meter $ 82 per sq. meter - warehouse, $117 per sq. meter - office $73 - $103 per sq. meter
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 8.70% 8.60% 8.66%
Cap rate 7.45% 7.50% 7.50%
Buccinasco, Via Emilia 30 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 170,694 $ 180,330 $ 162,501
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 64 per sq meter, $ 458 per parking space $ 69 per sq. meter, $ 481 per parking space $61 per sq. meter, $422 per parking space
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 8.80% 8.70% 8.76%
Cap rate 7.45% 7.60% 7.60%
Rozzano, Milanofiori, Building A5 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 2,577,599 $ 2,789,103 $ 2,437,512
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 145 per sq meter – offices, $158 per sq. meter – commercial area, $46 per sq. meter – cellars, $1,031 per parking space  $ 153 per sq. meter - offices, $ 166 per sq. meter commercial area $48 per sq. meter - cellars, $ 1,082 per parking space $135 per sq. meter, $950 per parking space
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 6.90% 6.80% 6.86%
Cap rate 5.60% 5.60% 5.60%
Rozzano, Milanofiori, Building N1 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 3,688,831 $ 3,847,039 $ 3,397,744
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 145 per sq meter $ 84 - $ 153 per s. meter $74 - $135 per sq. meter
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 6.90% 6.80% 6.86%
Cap rate 5.60% 5.60% 5.60%
Rozzano, Milanofiori, Building Q5 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 1,082,591 $ 1,154,112 $ 1,018,268
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 145 per sq meter, $ 1,031 per parking space $ 153 per sq. meter, $ 1,082 per parking space $135 per sq. meter, $950 per parking space
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 6.90% 6.80% 6.86%
Cap rate 5.60% 5.60% 5.60%
Rozzano, Milanofiori, Building Q7 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value $ 1,580,927 $ 1,659,035 $ 1,403,416
Valuation technique DCF DCF DCF
Key Unobservable Inputs      
ERV $ 145 per sq meter, $ 1,306 per parking space $ 153 per sq. meter, $ 1,082 per parking space $135 per sq. meter, $950 per parking space
Rental growth p.a. 0.75% to 1.5% 0.83% to 1.50% 0.975% to 1.5%
Discount rate 6.90% 6.80% 6.86%
Cap rate 5.60% 5.60% 5.60%
Buccinasco, Via Bruno Buozzi 22 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value   $ 180,330 $ 849,436
Valuation technique   DCF DCF
Key Unobservable Inputs      
ERV   $ 117 per sq. meter $103 per sq. meter
Rental growth p.a.   0.83% to 1.50% 0.975% to 1.5%
Discount rate   6.80% 6.86%
Cap rate   5.60% 5.60%
Milano, Corso Europa 22 [Member]      
Disclosure of fair value measurement of assets [line items]      
Fair Value     $ 5,339,312
Valuation technique     DCF
Key Unobservable Inputs      
ERV     $475 per sq. meter
Rental growth p.a.     0.975% to 1.5%
Discount rate     4.96%
Cap rate     4.30%