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141

notes to the

financial statements

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010 (cont’d)

17 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

The freehold land and buildings stated at valuation were revalued by the Directors on 31 December 2010 based on open market valuations carried out by an independent frm of professional valuers, CH Williams, Talhar & Wong of 3228, Menara Tun Razak, Jalan Raja Laut, 50768 Kuala Lumpur to refect fair value. The book values of the buildings were adjusted to refect the revaluation and the resultant surpluses were credited to revaluation reserve.

If the total amounts of the freehold land and buildings had been determined in accordance with the historical cost convention, they would have been included at:

Group 2010 2009 RM’000 RM’000

Cost

Freehold land 20,093 19,536 Buildings 15,990 61,626

36,083 81,162

Accumulated depreciation

Buildings (1,822) (8,067)

Net book value 34,261 73,095

The additions and net book value of assets under hire purchase and fnance leases are as follows:

Group 2010 2009 RM’000 RM’000

Assets under hire purchase and fnance leases:

- additions during the fnancial year (Note 37(i)) 6,117 2,883 - net book value at the end of fnancial year 29,642 27,668

The net book value of property, plant and equipment pledged for borrowing facility (Note 31) as at 31 December 2010 is RM4,000,000 (2009: RM30,099,000).

Borrowing costs of RM Nil (2009: RM1,030,000), arising on fnancing specifcally entered into for the construction of the hospital building, were capitalised during the fnancial year and included in additions of property, plant and equipment of the Group during the fnancial year.

18 PREPAID LEASES

Group 2010 2009 RM’000 RM’000

Cost (Restated) At 1 January 19,572 5,939 - effect of adoption of Amendment to FRS 117 (19,572) (5,939)

As restated 0 0