Type | Announcement |
Subject | OTHERS |
Description | SELANGOR PROPERTIES BERHAD ("SPB" OR THE "COMPANY") - REVALUATION OF PROPERTIES |
The Board of Directors of SPB wishes to announce that the Company had undertaken a revaluation exercise on all its investment properties (hereinafter collectively referred to as "Asset") held by SPB and its subsidiaries (collectively referred to as the "Group").
The purpose of the revaluation is to comply with the accounting standards under the Malaysian Financial Reporting Standards ("MFRS") 140 on Investment Property.
Following the revaluation exercise, there is a revaluation surplus for an aggregate amount of RM20.736 million, details as set out in the table attached.
This will result in an increase of 6.0 sen in the net asset per share of the Group.
The valuation on the Asset was conducted by VPC Alliance (KL) Sdn Bhd. The date of valuation for the Asset is as at 31 October 2016.
The total value placed on the Asset by the valuer is RM637.554 million.
The valuation reports of the Asset are available for inspection at the Registered Office of the Company at Lot 6.05, Level 6, KPMG Tower, 8 First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan during normal office hours from Monday to Friday (except for Public Holidays) for a period of three (3) months from the date of this announcement.
This announcement is dated 27 December 2016.
Selangor Properties Berhad List of Properties
Financial Year Ended 31 October 2016
No. | Property | Net Book Value | Market Value | Revaluation |
as at 31/10/2016 | as at 31/10/2016 | suplus/(deficit) | ||
1 | MALAYSIA | RM'000 | RM'000 | RM'000 |
SPB Tower, Jalan Batai, Damansara Heights, Kuala Lumpur | 30,948 | 30,624 | (324) | |
2 | Plaza Batai, Jalan Batai, Damansara Heights, Kuala Lumpur | 27,262 | 28,600 | 1,338 |
3 | Kompleks Pejabat Damansara, Jalan Dungun, Kuala Lumpur | 80,638 | 83,000 | 2,362 |
4 | Taman Tunku | 29,852 | 30,330 | 478 |
5 | No 17, Langgak Tunku, Bukit Tunku | 4,350 | 4,500 | 150 |
6 | Shell Land, Jalan Batai, Damansara Heights, Kuala Lumpur | 5,400 | 7,500 | 2,100 |
7 | Hotel Site, Jalan Batai, Damansara Heights, Kuala Lumpur | 70,000 | 76,000 | 6,000 |
8 | Menara Milenium | 348,368 | 355,000 | 6,632 |
9 | Wenworth Hotel | 20,000 | 22,000 | 2,000 |
616,818 | 637,554 | 20,736 |
SPB - Selangor Properties Bhd published this content on 27 December 2016 and is solely responsible for the information contained herein.
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