|
 |
NOTES TO THE FINANCIAL STATEMENTS |
 |
11. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following:
| The Group |
Freehold land and
buildings
RM'000 |
Land, buildings and
improvements under long lease
RM'000 |
Land, buildings and
improvements under short lease
RM'000 |
Machinery and equipment
RM'000 |
Furniture, fixtures
and fittings and office equipment
RM'000 |
Vehicles
RM'000 |
Construction in progress
RM'000 |
Total
RM'000 |
| COST/VALUATION |
|
|
|
|
|
|
|
|
| Balance at 1.1.2002 |
|
|
|
|
|
|
|
|
| At valuation |
4,238
|
13,936
|
3,825
|
-
|
-
|
-
|
-
|
21,999
|
| At cost |
31, 770
|
37, 174
|
20, 941
|
180,527
|
21,496
|
15,915
|
3,542
|
311,365
|
|
36,008
|
51,110
|
24,766
|
180,527
|
21,496
|
15,915
|
3,542
|
333,364
|
| Additions |
240
|
337
|
47
|
3,327
|
1,062
|
345
|
3,822
|
9,180
|
| Disposals/write off |
(125)
|
(1,331)
|
(786)
|
(4,209)
|
(803)
|
(4,826)
|
-
|
(12,080)
|
| Reclassification |
-
|
1,570
|
-
|
205
|
-
|
-
|
(1,775)
|
-
|
| Translation differences |
-
|
-
|
-
|
3,002
|
(6)
|
-
|
-
|
2,996
|
|
|
| Balance at 31.12.2002 |
|
|
|
|
|
|
|
|
| At valuation |
4,113
|
13,936
|
3,275
|
-
|
-
|
-
|
-
|
21,324
|
| At cost |
32, 010
|
37, 750
|
20, 752
|
182,852
|
21,749
|
11,434
|
5,589
|
312,136
|
|
36,123
|
51,686
|
24,027
|
182,852
|
21,749
|
11,434
|
5,589
|
333,460
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACCUMULATED
DEPRECIATION |
|
|
|
|
|
|
|
|
| Balance at 1.1.2002 |
11,493
|
21,988
|
10,262
|
97,441
|
17,371
|
13,996
|
-
|
172,551
|
| Charge for the year |
1,012
|
1,711
|
786
|
10,647
|
1,518
|
881
|
-
|
16,555
|
| Disposals/write off |
-
|
(221)
|
(229)
|
(1,227)
|
(656)
|
(4,517)
|
-
|
(6,850)
|
| Translation differences |
-
|
-
|
-
|
156
|
(1)
|
-
|
-
|
155
|
|
|
| Balance at 31.12.2002 |
12,505
|
23,478
|
10,819
|
107,017
|
18,232
|
10,360
|
-
|
182,411
|
|
|
| NET BOOK VALUE At 31.12.2002 |
23,618
|
28,208
|
13,208
|
75,835
|
3,517
|
1,074
|
5,589
|
151,049
|
|
|
NET BOOK VALUE
At 31.12.2001 |
24, 515
|
29, 122
|
14, 504
|
83, 086
|
4,125
|
1,919
|
3,542
|
160,813
|
|
|
Depreciation charge
for 2001 |
1,000
|
1,643
|
838
|
8,813
|
2,083
|
1,964
|
-
|
16,341
|
|
|
| The Company |
Freehold land and buildings
RM'000
|
Land, buildings and improvements
under long lease
RM'000
|
Machinery and equipment
RM'000
|
Furniture, fixtures and fittings
and office equipment
RM'000
|
Vehicles
RM'000
|
Construction in progress
RM'000
|
Total
RM'000
|
|
|
|
|
|
|
|
|
| COST/VALUATION |
|
|
|
|
|
|
|
| Balance at 1.1.2002 |
|
|
|
|
|
|
|
| At valuation |
2,223
|
11,327
|
-
|
-
|
-
|
-
|
13,550
|
| At cost |
24,590
|
36,613
|
102,994
|
11,720
|
2,278
|
1,946
|
180,141
|
|
|
|
|
|
|
|
|
|
26,813
|
47,940
|
102,994
|
11,720
|
2,278
|
1,946
|
193,691
|
| Additions |
240
|
337
|
2,008
|
901
|
171
|
3,485
|
7,142
|
| Disposals/write off |
-
|
(1,321)
|
(2,450)
|
(165)
|
(484)
|
-
|
(4,420)
|
| Reclassification |
-
|
1,570
|
205
|
-
|
-
|
(1,775)
|
-
|
|
|
| Balance at 31.12.2002 |
|
|
|
|
|
|
|
| At valuation |
2,223
|
11,327
|
-
|
-
|
-
|
-
|
13,550
|
| At cost |
24,830
|
37,199
|
102,757
|
12,456
|
1,965
|
3,656
|
182,863
|
|
|
|
|
|
|
|
|
|
27,053
|
48,526
|
102,757
|
12,456
|
1,965
|
3,656
|
196,413
|
|
|
| ACCUMULATED DEPRECIATION |
|
|
|
|
|
|
|
| Balance at 1.1.2002 |
11,387
|
20,035
|
68,180
|
9,699
|
1,841
|
-
|
111,142
|
| Charge for the year |
1,012
|
1,636
|
6,267
|
989
|
246
|
-
|
10,150
|
| Disposals/write off |
-
|
(210)
|
(1,069)
|
(111)
|
(464)
|
-
|
(1,854)
|
|
|
| Balance at 31.12.2002 |
12,399
|
21,461
|
73,378
|
10,577
|
1,623
|
-
|
119,438
|
|
|
| NET BOOK VALUE |
|
|
|
|
|
|
|
| At 31.12.2002 |
14,654
|
27,065
|
29,379
|
1,879
|
342
|
3,656
|
76,975
|
|
|
| NET BOOK VALUE |
|
|
|
|
|
|
|
At 31.12.2001
|
15, 426
|
27, 905
|
34, 814
|
2,021
|
437
|
1,946
|
82,549
|
|
|
| Depreciation charge for 2001 |
993
|
1,556
|
6,254
|
844
|
253
|
-
|
9,900
|
|
|
As of 31st December, 2002, included in property, plant and equipment of the
Group, are landed properties with net carrying values totalling about RM9,731,000
(RM9,890,000 in 2001) which are currently not in active use.
The land and buildings were revalued in the respective years based on
the valuation reports of independent firms of professional valuers. The
valuations of these properties were based on fair market values as follows:-
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
| Freehold land and buildings: |
|
|
|
|
| |
At 1980 Valuation |
3,873
|
3,873
|
2,223
|
2,223
|
| |
At 1974 and 1977 Valuation |
240
|
365
|
-
|
-
|
| Land, buildings and improvements under long lease: |
|
|
|
|
| |
At 1980 Valuation |
11,327
|
11,327
|
11,327
|
11,327
|
| |
At 1977 Valuation |
2,609
|
2,609
|
-
|
-
|
| Land, buildings and improvements under short lease: |
|
|
|
|
| |
At 1981 Valuation |
1,210
|
1,760
|
-
|
-
|
| |
At 1980 Valuation |
2,065
|
2,065
|
-
|
-
|
| |
|
| |
21,324
|
21,999
|
13,550
|
13,550
|
| |
|
The historical costs and carrying values of the revalued land and buildings
are as follows:
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
Cost:
Freehold land and buildings: |
|
|
|
|
| |
At 1980 Valuation |
857
|
857
|
837
|
837
|
| |
At 1974 and 1977 Valuation |
240
|
365
|
-
|
-
|
| Land, buildings and improvements under long lease: |
|
|
|
|
| |
At 1980 Valuation |
7,482
|
7,482
|
7,482
|
7,482
|
| |
At 1977 Valuation |
1,387
|
1,387
|
-
|
-
|
| Land, buildings and improvements under short lease: |
|
|
|
|
| |
At 1981 Valuation |
433
|
481
|
-
|
-
|
| |
At 1980 Valuation |
1,160
|
1,160
|
-
|
-
|
| |
|
|
|
|
| |
11,559
|
11,732
|
8,319
|
8,319
|
Accumulated Depreciation:
Freehold land and buildings: |
|
|
|
|
| |
At 1980 Valuation |
104
|
104
|
104
|
104
|
| Land, buildings and improvements under long lease: |
|
|
|
|
| |
At 1980 Valuation |
5,633
|
5,633
|
5,633
|
5,633
|
| |
At 1977 Valuation |
1,090
|
1,090
|
-
|
-
|
| Land, buildings and improvements under short lease: |
|
|
|
|
| |
At 1981 Valuation |
300
|
305
|
-
|
-
|
| |
At 1980 Valuation |
910
|
910
|
-
|
-
|
| |
8,037
|
8,042
|
5,737
|
5,737
|
| |
|
| Net Book Values |
3,522
|
3,690
|
2,582
|
2,582
|
| |
|
The net book values of property, plant and equipment under hire-purchase arrangements
are as follows:
| |
The Group
|
The Company
|
| |
2002
RM'000
|
2001
RM'000
|
2002
RM'000
|
2001
RM'000
|
| Vehicles |
462
|
746
|
217
|
237
|
| Machinery and equipment |
-
|
5,621
|
-
|
5,621
|
| |
|
| |
462
|
6,367
|
217
|
5,858
|
| |
|
Included in property, plant and equipment of the Group and of the Company are
fully depreciated plant and machinery which are still in use, with cost amounting
to approximately RM83,271,000 (RM79,068,000 in 2001).
|
|
