WCT-Page 30 to ProxyForm (2.4MB).pdf - Announcements - Bursa ...

4. PROPERTY, PLANT AND EQUIPMENT cont’d
WCT Berhad (66538-K)
annual report 2011
(a) Freehold land is carried at valuation. Freehold buildings are carried at valuation less accumulated depreciation.
All other categories of property, plant and equipment are carried at costs less accumulated depreciation. Certain
freehold land and buildings in Malaysia were revalued on 31 December 2010 by the Directors based on the
valuation performed by Henry Butcher, Malaysia (SEL.) Sdn. Bhd., members of the Institution of Surveyors,
Malaysia. Freehold land and buildings in Bahrain were revalued on 31 December 2011 by Directors based on
valuation performed by Carlton Real Estate. Valuations were made using comparison method on the basis of
open market value.
The Directors do not foresee the fair value of other freehold land and buildings in Malaysia to be materially
different from the valuation done on 31 December 2010.
If the freehold land and buildings were measured using the cost model, the carrying amounts as at 31 December
2011 would have been as follows:
Group Company
2011 2010 2011 2010
RM'000 RM'000 RM'000 RM'000
Freehold land and buildings
Cost 32,310 32,310 7,178 7,178
Accumulated depreciation (2,214) (1,713) (1,662) (1,558)
Net book value 30,096 30,597 5,516 5,620
Analysis of valuation of freehold land and buildings is as follows:
Freehold land Buildings
2011 2010 2011 2010
RM'000 RM'000 RM'000 RM'000
Group
Valuation 35,928 32,126 84,090 63,871
Accumulated depreciation - - (4,691) (1,682)
Exchange difference (1,603) (2,088) (495) (738)
34,325 30,038 78,904 61,451
Company
Valuation 4,400 4,400 3,800 3,800
Accumulated depreciation - - (76) -
4,400 4,400 3,724 3,800
117
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d