PANGKOR LAUT RESORT


Address/Location : Pangkor Laut Island, 32200 Lumut, Perak Darul Ridzuan.
Property description : 36 units of Garden Villas, 52 units of Hill Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite.
Property type : Resort
Age : Approximately 23 years
Title details : PN 313713, Lot 12362 and PN 313715, Lot 12364, both in Mukim of Lumut, District of Manjung, State of Perak Darul Ridzuan.
Encumbrances/Limitation in title/ interest : The property is charged to a financial institution to secure a loan facility denominated in Ringgit Malaysia and there is restriction attached to the title.
Status of holdings : 99-year registered lease expiring 21 May 2095 obtained from Perbadanan Kemajuan Negeri Perak.
Existing use : Commercial building
Parking spaces : Not applicable
Lessee : Syarikat Pelanchongan Pangkor Laut Sendirian Berhad.
Lease term : The property is leased for a term expiring on 14 November 2026.
Date of acquisition : 15 November 2011
Cost of acquisition : RM97,000,000
Market value : RM114,000,000
Date of last valuation : 31 May 2016
Independent valuer : SMY Valuers & Consultants Sdn. Bhd.
Net book value : RM114,000,000