cover rationale - ChartNexus

10b INVESTMENT PROPERTIES (CONTINUED)
At
Charge for
the financial At
Group 1.9.2000 year 31.8.2001
2001 RM’000 RM’000 RM’000
Accumulated depreciation
Long leasehold land:
At 1989 valuation 276 14 290
At cost 2,620 481 3,101
2,896 495 3,391
Buildings and improvements:
At 1989 valuation 1,026 42 1,068
At cost 15,085 4,493 19,578
16,111 4,535 20,646
Total 19,007 5,030 24,037
At At
31.8.2002 31.8.2001
Group RM’000 RM’000
Net book value
Long leasehold land:
At 1989 valuation 829 843
At cost 34,242 34,724
35,071 35,567
Buildings and improvements:
At 1989 valuation 2,375 2,417
At cost 179,967 185,450
182,342 187,867
Total 217,413 223,434
The leasehold land and buildings of subsidiaries with net book values of RM239,774,000
(2001: RM249,503,000) are presently charged as security for term loan facilities (Note 29).
The leasehold land and building of another subsidiary is stated at Directors’ valuation which
is based on a valuation by professional valuers in 1989 using the open market value basis.
The leasehold investment properties consist of four leasehold land and buildings with
unexpired periods of leases ranging from 42 years to 90 years.
Laporan Tahunan 2002 Annual Report
NOTES TO THE FINANCIAL STATEMENTS 31 AUGUST 2002 (CONTINUED)
117