Contents - Genting Group

GENTING BERHAD • Annual Report 2001
12. PROPERTY, PLANT AND EQUIPMENT (Cont'd)
Long Freehold Leasehold Plant,
Freehold leasehold Short buildings buildings equipment Construction
land and land and leasehold and and and in
plantations plantations land improvements improvements vehicles progress Total
Comprising:
Cost 75.3 281.2 - 2,111.3 209.5 1,862.1 525.1 5,064.5
At valuation:
- 1981 118.9 - - - - - - 118.9
- 1982 8.8 - - 76.7 - 2.9 - 88.4
- 1983 106.7 - - 2.3 - - - 109.0
- 1986 - - - - - 8.6 - 8.6
- 1989 83.3 - - 115.9 - - - 199.2
- 1991 - 34.0 - 0.7 - - - 34.7
- 1995 - 9.5 - - - - - 9.5
- 1996 16.0 - - - - - - 16.0
409.0 324.7 - 2,306.9 209.5 1,873.6 525.1 5,648.8
Fixed assets have been revalued by the Directors based upon valuations carried out by independent firms of professional
valuers using the fair market value basis except for assets revalued in 1991, which were based on the values determined by
a regulatory authority in connection with a restructuring exercise.
In accordance with the transitional provisions issued by the Malaysian Accounting Standards Board ("MASB") on adoption
of MASB No. 15, Property, Plant and Equipment, the valuation of these assets have not been updated, and they continue to
be stated at their existing carrying amounts less depreciation.
The net book value of the revalued assets of the Group would have amounted to RM322.3 million (2000: RM323.9 million)
had such assets been stated in the financial statements at cost.
The net book value of property, plant and equipment pledged by an indirect subsidiary company as security for redeemable
fixed rate bonds issued by the indirect subsidiary company amounted to RM114.3 million (2000: RM121.8 million).
Freehold
Plant,
buildings
equipment
2001 and and Work
Company improvements vehicles in progress Total
Cost:
Beginning of the financial year 8.8 16.0 0.2 25.0
Intragroup transfer - (0.3) - (0.3)
Additions - 0.3 0.2 0.5
End of the financial year 8.8 16.0 0.4 25.2
Accumulated Depreciation:
Beginning of the financial year (4.2) (11.8) - (16.0)
Charge for the financial year (0.4) (1.6) - (2.0)
Intragroup transfer - 0.3 - 0.3
End of the financial year (4.6) (13.1) - (17.7)
Net book value at end of the financial year 4.2 2.9 0.4 7.5
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