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23 February 2017

Revaluation of Non-Current Assets of the Group

INTRODUCTION

Pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Tambun wishes to announce that the Board had approved the revaluation surplus of RM5.19 million to be incorporated into the unaudited consolidated financial statements for the financial year ended 31 December 2016.

 

PURPOSE OF REVALUATION

The purpose of the revaluation is to reflect the fair value of the non-current assets of the Tambun Group for accounting purposes in compliance with the Financial Reporting Standards (FRS) 140 on Investment Properties.

 

DETAILS OF REVALUATION

Please refer to Annexure A for further details.

 

DOCUMENTS FOR INSPECTION

The valuation reports are available for inspection at the registered office of the Company at 51-21-A, Menara BHL Bank, Jalan Sultan Ahmad Shah, 10050 Penang during normal office hours from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.

 

This announcement is dated 23 February 2017.