Mid Valley Megamall revalued

PETALING JAYA: KrisAssets Holdings Bhd has revalued Mid Valley Megamall, which carries a market value of RM1.77 billion as of Sept 30, 2009, according to a Bursa Malaysia announcement on Nov 23.

This is an increase from its June 30, 2009, valuation of RM1.75 billion, resulting in a net revaluation surplus of RM15 million after taking into consideration the deferred tax liability of RM5 million, the announcement said. The surplus has also been incorporated in the unaudited financial statements of KrisAssets group for the financial year ended Sept 30, 2009.

KrisAssets Holdings is an investment holding company and through its wholly owned subsidiary, Mid Valley City Sdn Bhd, owns and operates the Mid Valley Megamall.

The revaluation was conducted by Collier, Jordan Lee & Jaafar Sdn Bhd.