Malaysia legislation
Section 16
of Mengikut peraturan Bilangan 34 Peraturan-Peraturan Tanah Tahun 1966, adalah
Seksyen 16
LAND HELD FOR FUTURE DEVELOPMENT
The Group
The Company 2005 2004 2005 2004
At cost:
Freehold land 460,618,208 115,556,115 447,361,653 102,299,560
Long leasehold land 42,210,730 46,345,924 42,210,730 46,345,924
At beginning of year 502,828,938 161,902,039 489,572,383 148,645,484
Cost incurred during the year:
Freehold land
— 364,355,987
— 364,355,987 502,828,938 526,258,026 489,572,383 513,001,471
Disposal during the year:
Freehold land
— (19,293,894)
— (19,293,894)
Long leasehold land
(2,091,050)
—
(2,091,050)
—
(2,091,050) (19,293,894)
(2,091,050) (19,293,894)
Transfer to land and development expenditure
(Note 22):
Freehold land
(1,224,705)
—
—
—
Leasehold land
(594,518)
(4,135,194)
(594,518)
(4,135,194)
At end of year 498,918,665 502,828,938 486,886,815 489,572,383
As of to-date, certain land titles of the Group (all pertaining to the Company)
with carrying value of RM35,629,661 and RM368,186,500 (RM38,315,229
and RM368,186,500 in 2004) are registered under the name of the ultimate holding corporation and are in the process of being transferred to the name of the Company respectively.
Freehold land of the Group (all pertaining to the Company) with carrying value of RM69,980,554 (also RM69,980,554 in 2004) are charged to a licensed bank to secure a term loan facility of RM43,000,000 (also
RM43,000,000 in 2004) as indicated in Note 24.
1670
[22hb Jun 2006