OTHERS NTPM HOLDINGS BERHAD ("NTHB" OR "THE COMPANY") -REVALUATION OF PROPERTIES
NTPM HOLDINGS BERHAD
Type | Announcement |
Subject | OTHERS |
Description | NTPM HOLDINGS BERHAD ("NTHB" OR "THE COMPANY") |
-REVALUATION OF PROPERTIES | |
In compliance with Paragraph 9.19 (46) of Chapter 9 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company is pleased to announce that the Company has undertaken a revaluation on the Company's properties. The Revaluation Surplus has been incorporated into the unaudited interim financial report on consolidated results of NTHB for the fourth quarter ended 30 April 2021 and audited financial statements of NTHB Group for the financial year ended 30 April 2021.
Please refer to the attachment for the details of the revaluation of properties.
This announcement is dated 23 July 2021.
Please refer attachment below.
Attachments
NTHB - Revaluation of Properties.pdf
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Announcement Info
Company Name | NTPM HOLDINGS BERHAD |
Stock Name | NTPM |
Date Announced | 23 Jul 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-21052021-00104 |
NTPM HOLDINGS BERHAD ("the Company" or "NTHB") - REVALUATION OF PROPERTIES
Type | Announcement |
Subject | OTHERS |
Description | NTPM HOLDINGS BERHAD ("the Company" or "NTHB") |
- REVALUATION OF PROPERTIES
1. INTRODUCTION
In compliance with Paragraph 9.19(46) of Chapter 9 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Board of Directors of the Company is pleased to announce that a revaluation on the Land and Buildings ("Properties") has been carried out by the independent professional valuer, Messrs. Raine & Horne International Zaki + Partners Sdn. Bhd., using the market value as the basis of valuation. In arriving at the market value, the main approach is Comparison Method (for land valuation) and Cost Approach (for building valuation) to reflect the fair value (hereinafter referred to as "Revaluation") and the resulting surplus of RM7.56 million has been incorporated into the unaudited interim financial report on consolidated results of NTHB for the fourth quarter ended 30 April 2021 and shall be appropriately reflected in the financial statements of NTHB Group for the financial year ended 30 April 2021.
The Group's share of the resulting surplus net of reversal and deferred taxation arising from the revaluation is RM6.66 million and the amount has been credited to the Revaluation Reserves in accordance with the applicable financial reporting standards in Malaysia.
2. PURPOSE OF THE REVALUATION
The purpose of the Revaluation was mainly to ascertain the current market value of lands and buildings for accounting purposes, which is in line with the Group's revaluation policy on properties.
3. DETAILS OF THE REVALUATION SURPLUS
The details of the Revaluation Surplus are set out below:
Location of | Description of | Unaudited | Open | Revaluation | ||||
Property | the Property | net book | market | Surplus | ||||
value as at | value | (RM) | ||||||
30 April | (RM) | |||||||
2021 | ||||||||
(RM) | ||||||||
Lot 109, Lot 609, | All the Lots is | 93,417,875 | 96,430,000 | 3,012,125 | ||||
Lot 808, Lot 811, | utilised as paper | |||||||
Lot 1126, Lot | mill and paper | |||||||
1127, Lot 1129, | related | |||||||
Lot 1131, Lot | manufacturing | |||||||
1132, Lot 1133, | factory with | |||||||
Lot 1136, Lot | exception of Lot | |||||||
1139, Lot 1138, | 1127, Lot 1132 | |||||||
Mukim 8, | which is currently | |||||||
Seberang Perai | vacant. | |||||||
Selatan, Penang. | ||||||||
Lot 642, Grant
No.2263, Mukim
8, Seberang Perai
Selatan, Penang.
The entire factory is located at No. 886, Jalan Bandar Baru, Sungai Kecil, 14300 Nibong Tebal.
A parcel of agricultural land
2,245,000 2,800,000 555,000
Lot 6292, Lot | Lot 6293 & Lot | |
6293, Lot 6294 & | 6295 - vehicle | |
Lot 6295, Mukim | workshop | |
7, and Lot 794, | building | |
G.M. 277, Mukim | ||
8, Seberang Perai | Lot 794 - pump | |
Selatan, Penang. | house | |
Lot 6292 & Lot | ||
6294 are | ||
currently vacant. | ||
Lot No. 41665 | An office and | |
Senai-Kulai, Johor | warehouse | |
Bahru, Johor. | complex | |
No 5, Jalan Tiang | An office and | |
U8/93, Bukit | warehouse | |
Jelutong Industrial | complex | |
Park, Shah Alam, | ||
Selangor. | ||
14,560,000 16,335,500 1,775,500
1,845,000 1,890,000 45,000
14,270,000 15,140,000 870,000
Lot No 784, G.M. | Vacant | 6,400,000 | 6,650,000 | 250,000 | ||||||
267, Lot No 786, | agriculture land | |||||||||
G.M. 269, Lot No | except for the | |||||||||
787, G.M. 270, | following : | |||||||||
Lot No 788, G.M. | ||||||||||
271, Lot No 789, | Lot 784, Lot 786, | |||||||||
G.M. 273, Lot No | Lot 787, Lot 788 | |||||||||
790, G.M. 274, | & Lot 960 is | |||||||||
Lot No 799, G.M. | utilised as open | |||||||||
279, Lot No 800, | storage yard for | |||||||||
G.M. 280, Lot | waste paper and | |||||||||
810, G.M. 285, | material feed for | |||||||||
Lot 958, G.M. | boiler | |||||||||
502, Lot 959, | ||||||||||
G.M. 503, Lot No | Lot 810, Lot 958, | |||||||||
960, G.M. 504, | Lot 959, Lot | |||||||||
Lot No 812, G.M. | 1140, Lot 1143 is | |||||||||
287, Lot 1140, | a vacant | |||||||||
G.M. 615, Lot | industrial land. | |||||||||
1143, G.M. 618, | ||||||||||
Mukim 8, | ||||||||||
Seberang Perai
Selatan, Penang.
Lot 192, GM. 423, | Vacant industrial | 5,560,000 | 5,900,000 | 340,000 | ||||
Mukim Senai, | land | |||||||
Kulaijaya, | ||||||||
Johor | ||||||||
HS(D) 18622 PT | Vacant industrial | 3,800,000 | 4,050,000 | 250,000 | ||||
6543, Mukim | land. | |||||||
Sungai Karang, | ||||||||
District of | ||||||||
Kuantan, State of | ||||||||
Pahang | ||||||||
Lot No.523, | Vacant | 1,090,000 | 1,160,000 | 70,000 | ||||
Mukim 8, Daerah | development land | |||||||
Seberang Perai | ||||||||
Selatan, Pulau | ||||||||
Pinang | ||||||||
Lot No. 498, 540, | Vacant | 5,045,000 | 5,440,000 | 395,000 | ||||
806, Mukim 8, | development land | |||||||
Daerah Seberang | ||||||||
Perai Selatan, | ||||||||
Pulau Pinang | ||||||||
Grand Total | 148,232,875 | 155,795,500 | 7,562,625 |
4. DATE OF REVALUATION
The date of the report for the above Revaluation is 30 April 2021.
5. APPROVAL REQUIRED
The above valuation is not subject to the approval from the Securities Commission Malaysia.
6. EFFECT ON THE NET ASSETS PER SHARE
The revalued amount has been incorporated in the interim financial results for the period ended 30 April 2021 and the effect on the net assets per share of the Company arising from the Revaluation exercise is as follows: -
RM'000 | Net assets | |
per share | ||
(RM) | ||
Net assets prior to incorporating the | ||
Revaluation surplus as at 30 April 2021 | 485,948 | 0.43 |
Revaluation surplus | 7,350 | 0.01 |
Less: deferred taxation | (693) | 0.00 |
492,605 | 0.44 | |
Reversal of revaluation deficit previously | 213 | 0.00 |
charge to Income Statement | ||
Net assets after incorporating Revaluation | ||
surplus | 492,818 | 0.44 |
7. DOCUMENTS AVAILABLE FOR INSPECTION
The relevant report on the Revaluation is available for inspection at the registered office of the Company, Suite 18.05, MWE Plaza, No. 8 Lebuh Farquhar, 10200 George Town, Penang from Mondays to Fridays (except public holidays) during normal office hours for a period of 3 months from the date of this announcement.
This announcement is dated 23 July 2021.
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NTPM Holdings Bhd published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 03:19:06 UTC.