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09-08-2011, 11:21 PM
$80 mil of freehold development property doesn't look that bad since they have $90 mil of cash.
Anyway, I hope someone can help to explain ( in layman language ) what the following actually means:
Write-back of allowance for foreseeable losses for development properties amounting to $21,684,000 in relation to 18 Shelford and 8 Raja was made (2009: impairment loss of $28,159,000 in relation to 18 Shelford and 8 Raja).
The carrying amount of the development properties is the lower of the cost or net realisable value. The recoverable amount was based on valuation performed by accredited independent valuers, with recent experience in the location and category of the properties being valued.
Development properties with net book values of $82,507,000 (2009: $76,561,000) have been pledged to banks as security for creditfacilities granted (Note 26).
Anyway, I hope someone can help to explain ( in layman language ) what the following actually means:
Write-back of allowance for foreseeable losses for development properties amounting to $21,684,000 in relation to 18 Shelford and 8 Raja was made (2009: impairment loss of $28,159,000 in relation to 18 Shelford and 8 Raja).
The carrying amount of the development properties is the lower of the cost or net realisable value. The recoverable amount was based on valuation performed by accredited independent valuers, with recent experience in the location and category of the properties being valued.
Development properties with net book values of $82,507,000 (2009: $76,561,000) have been pledged to banks as security for creditfacilities granted (Note 26).