Sasbadi Annual Report 2019

PAGE 93 ANNUAL REPORT 2019 FINANCIAL STATEMENTS (continued) 3. Property, plant and equipment (continued) Revaluation The Group’s condominiums, leasehold land and buildings are stated at Directors’ valuation which is supported by the professional valuation done in February 2018 by an external independent valuation company, KGV International Property Consultants (M) 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 2019 2018 RM’000 RM’000 Condominiums 207 216 Leasehold land 5,900 6,009 Buildings 6,774 6,971 12,881 13,196 Finance lease liabilities Included in property, plant and equipment of the Group are motor vehicles acquired under finance lease arrangements with carrying amounts of RM346,000 (2018: RM39,000). Security Certain land and buildings of the Group with carrying amounts of RM46,354,000 (2018: RM47,415,000) were charged to banks as security for banking facilities granted to the Group (see Note 15).