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Notes To The
Financial Statements
As at 31 March 2019
13. Investment properties
Group
Company
2019
2018
2019
2018
RM’000
RM’000
RM’000
RM’000
Cost
At 1 April 2018/2017 and 31 March
87,559
87,559
72,116
72,116
Accumulated depreciation
At 1 April 2018/2017
26,889
25,382
22,674
21,512
Charge for the year
1,507
1,507
1,163
1,162
At 31 March
28,396
26,889
23,837
22,674
Net carrying amount
59,163
60,670
48,279
49,442
Fair value
62,650
61,805
51,000
50,005
(a) The land title of a freehold land and building of the Company with a net book value of approximately
RM47,489,000 (2018: RM48,633,000) is pledged as security 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 RM790,000 (2018: RM809,000) has yet to be finalised.
(c) The fair value of the investment properties during the year was determined based on comparison
approach. By the comparison approach, recent transactions and asking prices of comparable properties
in and around the locality are analysed for comparison purposes with adjustmnets made for difference in
time, location, size, planning provisions, tenure, title restriction, if any, and other relevant charactaristics to
arrive at the value of the property. The fair value of the properties as at 31 March 2019 and 31 March 2018
are based on valuation carried out by professional independent valuers, Messrs Hatta & Associates Sdn.
Bhd..
(d) Rental income generated from and direct operating expenses incurred on income generated from
investment properties are as follows:
Group
Company
2019
2018
2019
2018
RM’000
RM’000
RM’000
RM’000
Rental income
5,195
5,323
3,920
3,905
Direct operating expenses
3,848
3,799
3,430
3,430
146
Fima Corporation Berhad
(21185-P)
Annual Report 2019