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Mid Valley's market value at RM1.92b

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Market value of the Mid Valley Megamall stood at RM1.92 billion as at Dec 31, 2010, which is 3.78 per cent higher compared with RM1.85 billion as at Sept 30, 2010, says KrisAssets Holdings Bhd.

In a filing to Bursa Malaysia today, it said the revaluation was carried out by Jordan Lee & Jaafar Sdn Bhd to ascertain the current market value of the megamall for the group's accounting purposes in line with Financial Reporting Standard 140 on Investment Properties.

KrisAssets said the net surplus of RM52.5 million was recognised in the statement of comprehensive income of KrisAssets Group for the three months ended Dec 31, 2010 in line with the financial reporting standard.

Total net surplus for the financial year ended Dec 31, 2010 was RM90 million, up 6.67 per cent vis-a-vis the preceding year.
Based on the ordinary share capital and treasury shares as at Dec 31, 2010, the consolidated net assets per share of KrisAssets is RM3.52 per share.

Mid Valley Megamall is owned by Mid Valley City Sdn Bhd, a wholly-owned subsidiary of KrisAssets.

-- BERNAMA