General Announcement for PLC

19/07/2019

OTHERS Revaluation of Properties - Additional Information

XIN HWA HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description 
Revaluation of Properties - Additional Information

The Company’s announcement dated 18 July 2019 in relation to the revaluation of properties refers.


(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the previous announcement)

 

The Board wishes to announce the following additional information:

 

Purpose of Revaluation

 

The revaluation exercised for accounting purposes is pursuant to MFRS 116 Property, Plant and Equipment, para 31 & 34. In addition, the Company’s accounting policy states that the freehold land, leasehold land, buildings and warehouses are to be revalued periodically, at least once in every five years. The financial year ended 31 March 2019 is the 5th financial year from the year the Company last conducted revaluation exercise (December 2013).

 

Effects on Net Assets

 

The net assets per share before the revaluation surplus based on latest audited financial statements for the financial year ended 31 March 2018 is 67.37 sen.

 

This announcement is dated 19 July 2019.



Announcement Info

Company Name XIN HWA HOLDINGS BERHAD
Stock Name XINHWA
Date Announced 19 Jul 2019
Category General Announcement for PLC
Reference Number GA1-19072019-00067


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