perspective perspective - ChartNexus

14 INVESTMENT IN AN ASSOCIATED COMPANY
135
Group
2005 2004
RM’000 RM’000
Unquoted shares, at cost 6,240 6,240
Share of post-acquisition losses (3,485) (3,493)
Goodwill on acquisition written off against capital reserve (7)
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(7)
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2,748 2,740
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Represented by:
Share of net tangible assets 2,748 2,740
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Details of the associated company, which was incorporated in Malaysia, are as follows:
Group’s effective interest
Name of company Principal activities 2005 2004
% %
Ipjora Holdings Sdn Bhd Developing, building, 40 40
owning and operating ================= =================
15 OTHER INVESTMENTS
serviced apartments
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Unquoted shares, at cost 9 9 – –
Unquoted subordinated bonds, at cost 2,000
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–
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2,000
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–
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2,009 9 2,000 –
================= ================= ================= =================
The fair value of the unquoted shares was estimated based on the investees’ net tangible assets value. The Directors are of the
view that the fair value of this investment is not significantly different from the cost shown in the financial statements at the
balance sheet date.
The fair value of the unquoted subordinated bonds as at financial year end approximates the carrying amount.
16 LAND HELD FOR PROPERTY DEVELOPMENT
Group
2005 2004
RM’000 RM’000
At beginning of the financial year 206,985 111,860
Transfer from property, plant and equipment – 12,411
Net transfer to property development costs (28,531) (46,608)
Acquisition of land –
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129,322
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At end of the financial year 178,454 206,985
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Land held for property development with book value of RM152,015,900 (2004: RM189,360,942) has been pledged as security for
borrowings (Note 25).
UNITED MALAYAN LAND BHD