THE RESIDENCES AT THE RITZ CARLTON KUALA LUMPUR


(Parcel 1)  
Address/Location : No. 2, Jalan Yap Tai Chi Off Jalan Imbi, 55100 Kuala Lumpur.
Property description : 60 units of serviced apartments, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks, all located on part of a 38-storey block.
Property type : Serviced apartment
Age : Approximately 11 years
Title details : Grant No. 47693 for Lot No. 1308 Section 67, Town and District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur.
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 no restriction attached to the title.
Status of holdings : Freehold
Existing use : Commercial building
Parking spaces : Total combined 187 bays from Parcel 1 and Parcel 2.
Lessee : Star Hill Hotel Sdn. Bhd.
Lease term : The property is leased for a term expiring on 30 June 2031.
Date of acquisition : 16 May 2007
Cost of acquisition : RM125,000,000
Market value : RM163,000,000
Date of last valuation : 31 May 2016
Independent valuer : SMY Valuers & Consultants Sdn. Bhd.
Net book value : RM163,000,000
(Parcel 2)
Address/Location   No. 2, Jalan Yap Tai Chi Off Jalan Imbi, 55100 Kuala Lumpur.
Description : 50 units of serviced apartments, 4 units of penthouses and 1 level of basement car park, all located on part of a 38-storey block.
Property type : Serviced apartment
Age : Approximately 11 years
Title details : Grant No. 47693 for Lot No. 1308 Section 67, Town and District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur.
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 no restriction attached to the title.
Status of holdings : Freehold
Existing use : Commercial building
Parking spaces : Total combined 187 bays from Parcel 1 and Parcel 2.
Lessee : Star Hill Hotel Sdn. Bhd.
Lease term : The property is leased for a term expiring on 30 June 2031.
Date of acquisition : 15 November 2011
Cost of acquisition : RM73,000,000
Market value : RM91,000,000
Date of last valuation : 31 May 2016
Independent valuer : SMY Valuers & Consultants Sdn. Bhd.
Net book value : RM91,000,000