L a p o r a n T a h u n a n 2 0 0 0 A n n u a l R e p o r t - ChartNexus

Notes to the Financial Statements (continued)For the financial period of seventeen months ended 31 December 200010 PROPERTY, PLANT AND EQUIPMENT (continued)The freehold land consists of the following:Group31.12.2000 31.7.1999RMRMAt cost or valuationLand, at 1990 valuation 43,641,467 45,365,726Land, at 1996 valuation 323,130,580 324,102,686Development expenditure, at cost 10,634,069 10,518,173377,406,116 379,986,585If the freehold land had been determined in accordance with the historical cost convention, the cost of thefreehold land for the Group is RM25,921,655 (31.7.1999: RM25,805,759).Included in pro p e rt y, plant and equipment is interest capitalised during the financial period amounting toRM128,906 (31.7.1999: RM57,841). Interest charged were at rates ranging from 3.05% to 8.50% (31.7.1999:4.75% to 14.10%) per annum during the financial period.Property, plant and equipment amounting to RM2,363,554 (31.7.1999: RM Nil) of the Group have been pledgedas security for the short term bank borrowings (Note 21).11 INVESTMENT IN SUBSIDIARY COMPANIESCompany31.12.2000 31.7.1999RMRMUnquoted shares– At cost 51,725,017 51,725,013– At Directors’ valuation 472,421,706 472,421,706524,146,723 524,146,719The Company’s investment in a subsidiary company, i.e. Seri Alam Properties Sdn Bhd is stated at valuationbased on the net tangible assets of that subsidiary company as at 31 October 1996. All other subsidiarycompanies are stated at cost.54