THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING


Address/Location : No. 168, Jalan Imbi, 55100 Kuala Lumpur.
Property description : 22-storey 5-star hotel building comprising 251 rooms with 4-storey basement car parks.
Property type : Hotel
Age : Approximately 22 years
Title details : Grant No. 26579 for Lot No. 225, Section 67, Town and District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur.
Encumbrances/Limitation in title/ interest : The property is charged to secure financing and there is no restriction attached to the title.
Status of holdings : Freehold
Existing use : Commercial building
Parking spaces : 153 bays
Lessee : East-West Ventures Sdn. Bhd.
Lease term : The property is leased for a term expiring on 14 November 2026.
Date of acquisition : 15 November 2011
Cost of acquisition(including incidentals) : RM253,017,000
Fair value adjustments for the financial year : RM14,000,000
Market value : RM357,000,000
Date of last valuation : 31 May 2019
Independent valuer : SMY Valuers & Consultants Sdn. Bhd.
Net book value : RM357,000,000