OTHERS MELEWAR INDUSTRIAL GROUP BERHAD ("MIG" OR "THE GROUP") REVALUATION OF PROPERTY, PLANT AND EQUIPMENT
| MELEWAR INDUSTRIAL GROUP BERHAD |
| Type | Announcement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subject | OTHERS |
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| Description | MELEWAR INDUSTRIAL GROUP BERHAD ("MIG" OR "THE GROUP")
REVALUATION OF PROPERTY, PLANT AND EQUIPMENT |
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1. INTRODUCTION Pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MIG (“the Board”) wishes to announce that MIG had undertaken a revaluation exercise on the land, buildings, plant, machinery and electrical installation held by the Group. The Board had at its meeting held on 29 August 2024 approved the valuation reports and the incorporation of the revaluation surplus arising from the revaluation in the fourth quarter unaudited financial results of MIG for the financial year ended 30 June 2024. 2. PURPOSE The revaluation was carried out in accordance with the Group’s accounting policy to determine the fair value of the Group’s property, plant and equipment comprising the land, building, plant, machinery and electrical installation periodically, with sufficient regularity. 3. REVALUATION SURPLUS The details of the revaluation surplus are set out below:
NOTE
4. EFFECT ON NET ASSETS PER SHARE Based on the fourth quarter unaudited financial results of MIG for the financial year ended 30 June 2024, the net assets per share of MIG increased from RM1.15 to RM1.16 upon incorporation of the revaluation surplus, net of deferred tax, of RM3,027,391. 5. DOCUMENTS AVAILABLE FOR INSPECTION The valuation reports of the property, plant and equipment are available for inspection at the Registered Office of MIG at Suite 11.05, 11th Floor, No.566, Jalan Ipoh, 51200 Kuala Lumpur during normal business hours from Monday to Friday (except for Public Holidays) for a period of three (3) months from the date of this announcement. This announcement is dated 29 August 2024. |
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Announcement Info
| Company Name | MELEWAR INDUSTRIAL GROUP BERHAD |
| Stock Name | MELEWAR |
| Date Announced | 29 Aug 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27082024-00034 |