Connecting the nation. and Beyond. - ChartNexus

212 / MRCB annual report 2011 /
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2011
17 PROPERTY, PLANT AND EQUIPMENT (cont’d)
Property, plant and equipment with net book value amounting to RM163,542,252 (2010: RM163,877,198) of the Group
and of the Company have been charged as security for borrowings and other credit facilities (Notes 37 and 41).
Included in property, plant and equipment of the Group are the net book values of the following assets acquired under
hire purchase terms:
Group
Net book value
2011 2010
RM’000 RM’000
Motor vehicles 1,196 2,385
The net book value of the revalued leasehold land, had this asset been carried at cost less accumulated amortisation
and impairment losses, is as follows:
Group
2011 2010
RM’000 RM’000
Leasehold land 3,041 3,155
The leasehold land of a subsidiary is stated at Directors’ valuation based on a valuation by independent valuer in 1982
using the fair market value basis. In accordance with the transitional provision allowed by MASB upon first adoption of
FRS 116 “Property, Plant and Equipment”, the valuation of the leasehold land has not been updated, and they continue
to be stated at its existing carrying amount less accumulated amortisation and impairment losses.
The leasehold land have unexpired periods of leases ranging from 33 years to 81 years.
18 INVESTMENT PROPERTIES
Buildings and improvements
Group – 2011
Cost
Construction
Buildings in progress Total
RM’000 RM’000 RM’000
At 1.1.2011 118,283 324,491 442,774
Additions – 297,178 297,178
Reclassification upon completion 154,609 (154,609) –
At 31.12.2011 272,892 467,060 739,952