TANJONG JARA RESORT


Address/Location : Batu 8, Off Jalan Dungun, 23000 Dungun, Terengganu Darul Iman.
Property description : Small luxury boutique resort with 100 rooms.
Property type : Resort
Age : Approximately 23 years
Title details : HSD 1473, Lot No. PT 18624, Mukim of Kuala Dungun, District of Dungun, State of Terengganu Darul Iman.
Encumbrances/Limitation in title/ interest : The property is charged to secure financing and there is restriction attached to the title.
Status of holdings : 60-year leasehold expiring on 4 December 2067. The unexpired lease period is approximately 49 years.
Existing use : Commercial building
Parking spaces : 50 bays
Lessee : Tanjong Jara Beach Hotel 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 : RM87,000,000
Fair value adjustments for the financial year : RM900,000
Market value : RM102,000,000
Date of last valuation : 30 April 2018
Independent valuer : Azmi & Co. Sdn. Bhd.
Net book value : RM102,000,000