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LAPORAN TAHUNAN 2005 ANNUAL REPORT

3.

PROPERTY, PLANT AND EQUIPMENT (CONTD.)

GROUP Freehold land Short-term leasehold land Long-term leasehold land Buildings

12,518

13,050

461 19 4,778

549 25 4,989

Had the revalued property, plant and equipment been carried at historical cost less accumulated depreciation, the net book value of each class of property, plant and equipment that would have been included in the financial statements of the Group and of the Company are as follows:

The land and buildings were revalued by the Directors in 1998 based on independent professional valuations on an open market for existing use basis.

2005

2004

RM’000

RM’000

COMPANY

Freehold land

2,048

Buildings

2,132

The short-term leasehold land refer to leases expiring in 2039, 2055, and 2064.

2,048 2,188

The rights over a piece of the Group’s long-term leasehold land stated at valuation of RM1,748,000 is by way of a Deed of Assignment from the previous owner.

2005 RM’000

2004 RM’000

2005 RM’000

2004 RM’000

19,219 ( 5,556 )

19,219 ( 4,556 )

19,219 ( 5,556 )

19,219 ( 4,556 )

13,663

14,663

13,663

14,663

10,934

10,093

10,934

10,093

11,493

10,351

11,493

10,351

Quoted shares in Malaysia Provision for diminution in value

Market value at 30 June

Market value at 16 August

Group

Company

4.

LONG-TERM INVESTMENTS

The Directors regard the shortfall in value of the quoted investment amounting to approximately RM2,729,000 (2004: RM4,570,000) against market value as at the balance sheet date as temporary in nature as the current market value is not reflective of the underlying net tangible assets of the investee company.

57

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