Directors - Boustead Holdings Berhad

12. PROPERTY, PLANT AND EQUIPMENT (cont’d.)
Analysis of net book value of properties:
Group Company
2006 2005 2006 2005
RM’000 RM’000 RM’000 RM’000
Freehold property
– land 222,022 324,908 823 823
– building 366,092 126,849 2,606 2,701
588,114 451,757 3,429 3,524
Long leasehold property
– land 246,368 252,440 1,613 1,625
– building 53,546 52,387 1,514 1,563
299,914 304,827 3,127 3,188
Short leasehold property
– land 43,366 57,183 313 327
– building 101,343 96,662 3,858 3,989
144,709 153,845 4,171 4,316
1,032,737 910,429 10,727 11,028
Analysis of cost or valuation:
Cost 1,648,890 1,397,909 26,440 24,737
Valuation – 1992 16,532 123,254 –– ––
Valuation – 2001 128,000 –– –– ––
1,793,422 1,521,163 26,440 24,737
Properties stated at valuation are based on independent professional valuations carried out on an open
market basis. As allowed by the approved accounting standard on property, plant and equipment, these
assets have continued to be stated on the basis of their previous valuations.
Pursuant to the sale and leaseback of plantation assets referred to in Note 37 to the financial statements,
the Group and the Company will enjoy the continued use of these assets spanning over an area of 46,896
hectares (2005: 36,260 hectares) and 1,411 hectares (2005: 1,411 hectares) of plantation land respectively.
107