LEASEHOLD LAND BUILDINGS RENOVATION MEDICAL AND OTHER EQUIPMENT FURNITURE

Leasehold land buildings renovation medical and other

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LEASEHOLD LAND BUILDINGS RENOVATION MEDICAL AND OTHER EQUIPMENT FURNITURE, FITTINGS, MOTOR VEHICLES AND COMPUTERS CAPITAL WORK-IN- PROGRESS TOTAL RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Group 2015 At 1 January - Cost 113,949 53,103 312,954 157,791 711,288 323,283 307,673 1,980,041 - Valuation 12,750 53,200 41,331 - - - - 107,281 126,699 106,303 354,285 157,791 711,288 323,283 307,673 2,087,322 Exchange differences 2,518 1,200 (2,348) 916 4,579 (1,240) 3,378 9,003 Additions 1,770 2,500 25,160 50,908 70,523 35,497 175,861 362,219 Acquisition of a subsidiary 46,700 - 33,300 - - - - 80,000 Revaluation surplus 17,153 17,252 23,709 - - - - 58,114 Elimination of accumulated depreciation on revaluation - (3,029) (11,341) - - - - (14,370) Disposals (3,433) - (1,664) (3,278) (6,000) (4,666) (3,105) (22,146) Written-off - - (1,225) (45) (9,762) (766) (3,657) (15,455) Reclassification - cost 29,987 - 114,232 17,465 25 25,153 (186,862) - 221,394 124,226 534,108 223,757 770,653 377,261 293,288 2,544,687
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ANNUAL REPORT 2016 | KPJ HEALTHCARE BERHAD 240 Notes to the Financial Statements For the Financial Year Ended 31 December 2016 (continued) 16 PROPERTY, PLANT AND EQUIPMENT (CONTINUED) FREEHOLD LAND LONG LEASEHOLD LAND BUILDINGS RENOVATION MEDICAL AND OTHER EQUIPMENT FURNITURE, FITTINGS, MOTOR VEHICLES AND COMPUTERS CAPITAL WORK-IN- PROGRESS TOTAL RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Group 2015 At 31 December - Cost 46,700 - 33,300 223,757 770,653 377,261 293,288 1,744,959 - Valuation 174,694 124,226 500,808 - - - - 799,728 221,394 124,226 534,108 223,757 770,653 377,261 293,288 2,544,687 Less: Government grant received - - (1,245) - - - - (1,245) 221,394 124,226 532,863 223,757 770,653 377,261 293,288 2,543,442 Accumulated depreciation At 1 January - (1,358) (6,199) (44,936) (384,083) (189,545) - (626,121) Elimination of accumulated depreciation on revaluation - 3,029 11,341 - - - - 14,370 Exchange differences - - 648 (29) (1,043) (1,890) - (2,314) Charge for the financial year (Note 9) - (1,683) (6,685) (16,040) (61,370) (32,935) - (118,713) Reclassification - - - (210) - 210 - - Disposals - - 33 3,130 5,822 3,219 - 12,204 Written-off - - 25 45 8,699 312 - 9,081 At 31 December - (12) (837) (58,040) (431,975) (220,629) - (711,493) Net carrying amounts - Cost 46,700 - 32,463 165,717 338,678 156,632 293,288 1,033,478 - Valuation 174,694 124,214 499,563 - - - - 798,471 At 31 December 2015 221,394 124,214 532,026 165,717 338,678 156,632 293,288 1,831,949
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KPJ HEALTHCARE BERHAD | ANNUAL REPORT 2016 241 Notes to the Financial Statements For the Financial Year Ended 31 December 2016 (continued) 16 PROPERTY, PLANT AND EQUIPMENT (CONTINUED) Revaluation of land and buildings The Group’s land and buildings, except for those under constructions, were fully revalued as at 31 December 2015. As at year end, the Group assessed whether there is an indication that the carrying values of these assets have defer materially from its fair value. Where an indication exist, revaluations were carried out and the carrying value of these assets were updated to reflect its fair value based on independent valuation. Certain land and buildings under construction that were completed and commenced operations during the year were also revalued as at year end. Land and buildings comprise mainly those that are used by the Group as purpose-built private specialist hospitals. Land and buildings that were revalued on 31 December 2016 were based on the Cost Method, which entails separate valuations of the land and buildings to arrive at the market value of the subject property. The lands were valued by reference to transactions of similar lands in the surrounding with adjustments made for difference in location, terrain, size and shape of the land, tenure, title restrictions if any and other relevant characteristics. The buildings were valued by reference to their depreciated replacement costs, i.e. the replacement cost new less an appropriate adjustments for depreciation or obsolescence to reflect the existing condition of the buildings at the date of valuation.
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