Eng - IOI Group

15 INVESTMENT PROPERTIES cont’dLeasehold land and buildings stated at cost amounted to RM1,999,000 (2002 - RM1,999,000) represent aninvestment property acquired in 1999 and has not been revalued subsequently as the amount is insignificant.On 30 June 2003, certain investment properties of the Group have been revalued by the Directors based on avaluation carried out by independent professional valuers using the market value basis. The attributable netsurplus (after accounting for minority interest and deferred taxation) of RM17,979,000 arising from therevaluation exercise has been credited to revaluation surplus in the shareholders’ equity and a revaluation deficitof RM9,222,000 (net of minority interest) was charged to the income statement.Certain investment properties with carrying amount of RM231,627,000 (2002 - RM280,429,000) have beenpledged to banks for credit facilities granted to subsidiaries.16 OTHER LONG TERM INVESTMENTSIn RM’000GroupCompany2003 2002 2003 2002At costIn Malaysia- Quoted shares 36,216 23,675 14,085 14,103- Unquoted shares 1,783 1,149 860 860- Quoted Warrants 2,185 2,188 2,185 2,188Outside Malaysia- Quoted shares 5 5 5 540,189 27,017 17,135 17,156Less: allowance for diminution in value (8,826) (8,826) (6,284) (6,284)31,363 18,191 10,851 10,872At market value- Shares quoted in Malaysia 38,477 30,460 7,089 8,295- Warrants quoted in Malaysia 381 893 381 893165IOI Corporation BerhadAnnual Report 2003