I-Berhad (7029-H) - Bursa Malaysia
I-Berhad (7029-H) - Bursa Malaysia
I-Berhad (7029-H) - Bursa Malaysia
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12.Fixed Assets (cont’d)<br />
The long leasehold land and buildings of the Company were revalued in 1982 on the basis of existing use<br />
by an independent professional valuer.<br />
The long leasehold land and buildings of the subsidiary were revalued in 1997 on open market basis by an<br />
independent professional valuer and the revaluation surplus was capitalised by the directors of the subsidiary.<br />
Had the fixed assets been carried out at historical cost less depreciation, the net book value of each class<br />
of fixed assets that would have been included in the accounts as at the end of the financial year would<br />
be as follows:<br />
Group Company<br />
1999 1998 1999 1998<br />
RM RM RM RM<br />
Long leasehold land 2,064,641 2,092,768 114,814 116,367<br />
Buildings 3,537,145 3,656,812 1,553,161 1,631,060<br />
5,601,786 5,749,580 1,667,975 1,747,427<br />
Included in fixed assets of the Company are fully depreciated assets costing RM37,273,239<br />
(1998: RM35,379,331).<br />
D e f e rred taxation on the surplus arising from the revaluation of long leasehold land and buildings of the<br />
G roup and of the Company is not provided as it is not the intention of the directors to dispose these assets.<br />
Included in the above fixed assets of the Group is a motor vehicle held under hire-purchase with net book<br />
value of RM55,610 (1998: RM69,512).<br />
13. Goodwill Arising on Consolidation<br />
Group<br />
1999 1998<br />
As at 1 January 639,097 –<br />
Arising from the acquisition of I-Industries Sdn. Bhd.<br />
(formerly known as Neico Technology Sdn. Bhd.) – 639,097<br />
639,097 639,097<br />
Less: Accumulated amortisation (127,820) (63,910)<br />
As at 31 December 511,277 575,187<br />
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