KUALA LUMPUR (Feb 21): KRISASSETS HOLDINGS BHD [] said the market value of its two malls -- Mid Valley Megamall and The Gardens Mall in Kuala Lumpur – have been revalued at RM3.290 billion as at Dec 31, 2011.
It said on Tuesday, this was RM470 million above the valuation as at Sept 30 of RM2.82 billion.
“The revaluation was carried out by independent professional valuers, Jordan Lee & Jaafar Sdn Bhd to ascertain the current market value of Mid Valley Megamall and The Gardens Mall for accounting purposes in line with Financial Reporting Standard 140 on investment PROPERTIES [],” it said.
KrisAssets said the market value of Mid Valley Megamall was RM2.36 billion, 18% higher compared with the Sept 30 valuation of RM2 billion.
The market value of The Gardens Mall was RM930 million, 13.41% higher compared with the Sept 30 valuation of RM820 million.
“The net surplus of RM352.5 million (deferred tax at 25%) are recognised in the statement of comprehensive income of KrisAssets group for the financial period ended Dec 31, 2011 under the fair value model in line with the policy.
“Based on the ordinary share capital including treasury shares as at Dec 31, 2011, the consolidated net assets per share of KrisAssets is RM4.50 per share,” it said.
It said on Tuesday, this was RM470 million above the valuation as at Sept 30 of RM2.82 billion.
“The revaluation was carried out by independent professional valuers, Jordan Lee & Jaafar Sdn Bhd to ascertain the current market value of Mid Valley Megamall and The Gardens Mall for accounting purposes in line with Financial Reporting Standard 140 on investment PROPERTIES [],” it said.
KrisAssets said the market value of Mid Valley Megamall was RM2.36 billion, 18% higher compared with the Sept 30 valuation of RM2 billion.
The market value of The Gardens Mall was RM930 million, 13.41% higher compared with the Sept 30 valuation of RM820 million.
“The net surplus of RM352.5 million (deferred tax at 25%) are recognised in the statement of comprehensive income of KrisAssets group for the financial period ended Dec 31, 2011 under the fair value model in line with the policy.
“Based on the ordinary share capital including treasury shares as at Dec 31, 2011, the consolidated net assets per share of KrisAssets is RM4.50 per share,” it said.
