Sasbadi Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 95 ANNUAL REPORT 2017 3. Property, plant and equipment (continued) Titles The strata title for the condominiums and individual title for certain leasehold land have not yet been issued to a subsidiary. The lease period of the leasehold land expires between 21 November 2061 and 18 May 2083. Revaluation The Group’s condominiums, leasehold land and buildings are stated at Directors’ valuation which is supported by the professional valuation done in April 2014 by an external independent valuation company, City Valuers & Consultants Sdn. Bhd., using the Market Value basis of valuation. Had the condominiums, leasehold land and buildings been carried at historical cost less accumulated depreciation, the carrying amounts of the revalued assets that would have been included in the financial statements at the end of the financial year are as follows: Group 2017 2016 RM’000 RM’000 Condominiums 225 234 Leasehold land 2,108 2,154 Buildings 6,248 6,427 8,581 8,815 Finance lease liabilities Included in property, plant and equipment of the Group are motor vehicles acquired under finance lease arrangements with carrying amounts of RM159,000 (2016: RM364,000). Security Certain land and buildings of the Group with carrying amounts of RM36,772,000 (2016: RM37,536,000) were charged to banks as security for banking facilities granted to the Group (see Note 12).