perspective perspective - ChartNexus

12 PROPERTY, PLANT AND EQUIPMENT (cont’d)
133
Charge for
As at the financial As at
1.1.2004 year Disposals 31.12.2004
RM’000 RM’000 RM’000 RM’000
Accumulated depreciation
Furniture, fittings and equipment 1,465 88 – 1,553
Motor vehicles 1,945 70 (1,191) 824
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3,410 158 (1,191) 2,377
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As at As at
31.12.2005 31.12.2004
RM’000 RM’000
Company
Net book value
Furniture, fittings and equipment 209 101
Motor vehicles 798 211
––––––––––––––––––– –––––––––––––––––––
1,007 312
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The freehold land of the Group was revalued by the Directors in 1990 based on a valuation carried out by an independent firm of
professional valuers using the comparison method basis. The book value of freehold land was adjusted to reflect the revaluation
and the revaluation surplus arising thereof was credited to revaluation reserves.
A certain portion of the freehold land of the Group was revalued again by the Directors in 1996 based on a valuation carried out
by an independent firm of professional valuers using the open market valuation basis and as approved by Securities Commission.
The book value of freehold land was adjusted to reflect the revaluation and the revaluation surplus arising thereof was credited
to revaluation reserves.
Group
2005 2004
RM’000 RM’000
The freehold land consists of the following:
At cost or valuation
Land, at 1990 valuation 20,545 20,545
Land, at 1996 valuation 304,858 304,858
Development expenditure, at cost 6,905 6,905
––––––––––––––––––– –––––––––––––––––––
332,308 332,308
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If the freehold land had been determined in accordance with the historical cost convention, the cost of the freehold land for the
Group is RM19,051,183 (2004: RM19,051,183).
UNITED MALAYAN LAND BHD