BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

90
N O T E S T O T H E A C C O U N T S
30 APRIL 1998
12 FIXED ASSETS (CONTINUED)
Company
As at
As at
1.5.1997 Additions Disposals 30.4.1998
RM’000 RM’000 RM’000 RM’000
At cost
Renovation, equipment,
furniture and fittings 4,445 660 29 5,076
Motor vehicles 4,709 1,007 163 5,553
Accumulated Depreciation
9,154 1,667 192 10,629
Renovation, equipment,
furniture and fittings 1,661 654 7 2,308
Motor vehicles 2,417 933 159 3,191
Net Book Value
4,078 1,587 166 5,499
As at
As at
30.4.1998 30.4.1997
RM’000 RM’000
Renovation, equipment,
furniture and fittings 2,768 2,784
Motor vehicles 2,362 2,292
5,130 5,076
Long leasehold land comprises leasehold interests with an unexpired term in excess of 50 years.
Long leasehold land and buildings and long leasehold hotel properties of the Group stated at valuations were
revalued in 1992 by the Directors based on valuations carried out by professional valuers. In 1996, the hotel
properties with a net book value of RM466,046,000 at 30 April 1996 were appraised by firms of professional
valuers giving a valuation of RM526,689,000 based on open market value basis which resulted in a
revaluation surplus of RM60,643,000. As a matter of prudence, the Directors did not recommend for the
surplus to be incorporated in the accounts.
The cost of fixed assets acquired under finance leases and hire purchase agreements amounted to
RM132,745,000 (1997: RM107,850,000) for the Group and RM4,333,000 (1997: RM3,937,000) for the
Company.
Included in the cost of capital work-in-progress is interest capitalised amounting to RM1,827,000 (1997:
RM74,000).
Properties and aircraft costing RM1,044,218,000 (1997: RM587,250,000) have been pledged to financial
institutions for facilities granted to subsidiary companies.
The depreciation of fixed assets of the Group as disclosed in Note 25 includes depreciation charge of
RM1,127,000 (1997: RM5,594,000) relating to subsidiary companies disposed of during the year.
The depreciation charge of the Group for the year includes:-
(i)
RM348,000 (1997: RM255,000) capitalised as part of deferred expenditure by a subsidiary company;
(ii) RM2,264,000 (1997: RM1,851,000) attributable to the life assurance subsidiary company which is
included as part of the life assurance revenue account; and
(iii) RM3,868,000 (1997: RM282,000) in respect of depreciation charge by certain subsidiary companies
before they became members of the Group.