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NOTES TO
THE FINANCIAL
STATEMENTS
FOR THE YEAR
ENDED 30 JUNE 2014
3. INVESTMENT PROPERTIES (CONT’D)
Group Company
2014 2013 2014 2013
RM'000 RM'000 RM'000 RM'000
Investment properties comprise:
At fair value
- Freehold land and commercial buildings/apartments 34,586 29,038 19,372 19,850
- Short term leasehold land and buildings 300 300 300 300
- Long term leasehold land and buildings/apartments 13,234 13,335 - -
At cost
- Constructions in progress
14,589
14,589
-
-
62,709
57,262
19,672
20,150
The title deeds to the completed freehold apartment amounted of RM976,000 (2013: RM976,000) were pending
transfer to the Group.
Freehold land and buildings with carrying value of RM5,508,000 (2013: RM5,508,000) are charged to licensed banks
for banking facilities granted to the Group.
The fair values of the investment properties are arrived at by reference to valuations by a registered independent valuer
having appropriate recognised professional qualifications.
4. LAND HELD FOR DEVELOPMENT
Freehold/
Leasehold Development
lands at expenditure
cost at cost Total
Group RM’000 RM’000 RM’000
At 1 July 2013 51,059 33,980 85,039
Additions 556 5,888 6,444
Transfer from property, plant and equipment (note 2) 5,332 - 5,332
Transfer to property, development costs (note 11) (32,755) (29,588) (62,343)
At 30 June 2014 24,192 10,280 34,472
At 1 July 2012 45,978 4,349 50,327
Additions 5,581 29,631 35,212
Disposal (500) - (500)
At 30 June 2013 51,059 33,980 85,039
In previous financial year, the freehold and leasehold lands amounted to RM32,755,000 were charged to a licensed
bank for banking facilities granted to the Group.
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