59
Notes To The Financial Statements
VITROX CORPORATION BERHAD
[649966-K]
For The Financial Year Ended 31 December 2008
5.
INVESTMENT PROPERTY
The Group
Shoplots
RM
Fair Value
600,000
Balance at 1 January 2007
0
Movement during the year
600,000
Balance at 31 December 2007
0
Movement during the year
600,000
Balance at 31 December 2008
The fair value of investment property was determined based on management’s estimate by reference to market information.
6.
PREPAID LEASE PAYMENTS
The Group
Long-term
leasehold land
RM
At Cost
Balance at 1 January 2007
2,946,205
Movement during the year
0
Balance at 31 December 2007
2,946,205
Movement during the year
0
Balance at 31 December 2008
2,946,205
Accumulated Amortisation
Balance at 1 January 2007
68,042
Amortisation
49,103
Balance at 31 December 2007
117,145
Amortisation
49,103
Balance at 31 December 2008
166,248
Carrying Amount
Balance at 1 January 2007
2,878,163
Balance at 31 December 2007
2,829,060
Balance at 31 December 2008
2,779,957
Leasehold land with carrying amount of RM2,560,286 (2007 : RM2,605,138) has been pledged to a bank for banking facilities
granted to the Group.
