NTPM Berhad : OTHERS NTPM HOLDINGS BERHAD ("NTHB" OR "THE COMPANY") -REVALUATION OF PROPERTIES

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

86.1 KB

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.