I-Berhad (7029-H) - Bursa Malaysia

12.Fixed Assets (cont’d)
The long leasehold land and buildings of the Company were revalued in 1982 on the basis of existing use
by an independent professional valuer.
The long leasehold land and buildings of the subsidiary were revalued in 1997 on open market basis by an
independent professional valuer and the revaluation surplus was capitalised by the directors of the subsidiary.
Had the fixed assets been carried out at historical cost less depreciation, the net book value of each class
of fixed assets that would have been included in the accounts as at the end of the financial year would
be as follows:
Group Company
1999 1998 1999 1998
RM RM RM RM
Long leasehold land 2,064,641 2,092,768 114,814 116,367
Buildings 3,537,145 3,656,812 1,553,161 1,631,060
5,601,786 5,749,580 1,667,975 1,747,427
Included in fixed assets of the Company are fully depreciated assets costing RM37,273,239
(1998: RM35,379,331).
D e f e rred taxation on the surplus arising from the revaluation of long leasehold land and buildings of the
G roup and of the Company is not provided as it is not the intention of the directors to dispose these assets.
Included in the above fixed assets of the Group is a motor vehicle held under hire-purchase with net book
value of RM55,610 (1998: RM69,512).
13. Goodwill Arising on Consolidation
Group
1999 1998
As at 1 January 639,097 –
Arising from the acquisition of I-Industries Sdn. Bhd.
(formerly known as Neico Technology Sdn. Bhd.) – 639,097
639,097 639,097
Less: Accumulated amortisation (127,820) (63,910)
As at 31 December 511,277 575,187
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