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47 / 72

Additions

25,696

-

25,696

Foreign exchange differences

13,188

-

13,188

Unexpired period

Unexpired period

less than 50 years

more than 50 years

Total

RM

RM

RM

Amortisation for the year

150,590

1,501

152,091

Foreign exchange differences

1,091

-

1,091

Cost/Valuation At 1 January 2006 Foreign exchange differences

7,776,758 (169,601)

430,000 -

8,206,758 (169,601)

At 31 December 2006/1 January 2007

7,607,157

430,000

8,037,157

At 1 January 2006

843,982

12,574

856,556

Amortisation for the year

216,493

6,948

223,441

Foreign exchange differences

(4,073)

-

(4,073)

At 1 January 2006

6,932,776

417,426

7,350,202

At 31 December 2006/1 January 2007

6,550,755

410,478

6,961,233

At 31 December 2007

6,437,958

408,977

6,846,935

THONG GUAN INDUSTRIES BERHAD

45

At 31 December 2006/1 January 2007

1,056,402

19,522

1,075,924

4.

Prepaid lease payments - Group

At 31 December 2007

Amortisation

7,646,041

430,000

8,076,041

At 31 December 2007

Carrying amounts

1,208,083

21,023

1,229,106

The prepaid lease payments represent leasehold land of the Group and are shown based on an open market value basis by independent professional valuers conducted in 1995.The Group has retained the unamortised revalued amount as the surrogate carrying amount of prepaid lease payments in accordance with the transitional provision in FRS 117.

Security

At 31 December 2007, prepaid lease payments with cost/valuation of approximately RM1,869,000 (2006 : RM1,869,000) are charged to a bank for banking facilities used.

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