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Fima Corporation Berhad
(21185-P)
financial statements
130
NOTES TO THE FINANCIAL STATEMENTS
12. PROPERTY, PLANT AND EQUIPMENT (Cont’d.)
(c)
If the total amounts of the freehold land, leasehold land and buildings had been determined in accordance with the
historical cost convention, they would have been included at:
Group
2017
2016
RM’000
RM’000
Costs
Freehold land
1,500
1,500
Leasehold land
57,341
57,341
Buildings
15,744
12,239
74,585
71,080
Accumulated Depreciation
Leasehold land
(17,754)
(2,120)
Buildings
(11,741)
(3,834)
(29,495)
(5,954)
Net Carrying Amount
45,090
65,126
13. INVESTMENT PROPERTIES
Group
Company
2017
2016
2017
2016
RM’000
RM’000
RM’000
RM’000
At Cost
At 1 April 2016/2015 and 31 March
87,559
87,559
72,116
72,116
Accumulated Depreciation
At 1 April 2016/2015
23,875
22,368
20,349
19,186
Charge for the year
1,507
1,507
1,163
1,163
At 31 March
25,382
23,875
21,512
20,349
Net Carrying Amount
62,177
63,684
50,604
51,767
Fair value
63,010
63,850
51,010
51,850
(a)
The land title of a freehold land and building of the Company with a net book value of approximately RM49,777,000 (2016:
RM50,922,000) is pledged as securities for certain unutilised credit facilities of the Group.
(b)
The transfer of the land title of a building of the Company which is located at Pekan Nenas, Johor with a net book value of
approximately RM827,000 (2016: RM845,000) has yet to be finalised.
(c)
The fair value of the investment properties during the year was determined based on comparison approach. The fair value
of the properties as at 31 March 2017 and 31 March 2016 are based on valuation carried out by professional independent
valuers, Messrs Hatta & Associates Sdn. Bhd..