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© 2009 - 2010 Al-Hadharah Boustead REIT

Plantation Assets Portfolio

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DETAILS OF THE PLANTATION ASSETS AS AT 31 DECEMBER 2008

Assets

Description

Tenant

Tenancy period Annual rental Existing use
Date of acquisition
Cost of acquisition
(RM'000)
Last valuation¹
(RM'000)
Carrying value
(RM'000)
%

Bekoh Estate
Located 13 km north west of Tangkak town, Muar, Johor

Net Land area of 1,226.1 hectares and planted area of 1,188.4 hectares

Boustead Properties Berhad

3 years 3,350 Cultivation of palm oil 29
December 2006
33,510
46,300
46,300
5.73

Malaya Estate
Located within the precinct of Kubu Gajah, Selama, Perak

Net land area of 922.1 hectares and planted area of 845.7 hectares

Boustead Properties Berhad

3 years 2,164 Cultivation of palm oil 29 December 2006
20,770
35,000
35,376
4.38

Kulai Young Estate
Located along Jalan Alor Bukit, 15 km north of Pekan Nenas town, Johor

Net land area of 816.2 hectares and planted area of 801.3 hectares

Boustead Properties Berhad

3 years 2,574 Cultivation of palm oil 29 December 2006
40,850
49,100
49,100
6.08

Bukit Mertajam Estate
Located along the Kulim-Mahang main road and Batu Puteh-Labu Besar main Road, Kulim, Kedah

Net land area of 2,173.2 hectares and planted area of 2,300.1 hectares

Boustead Properties Berhad

3 years 6,983 Cultivation of palm oil 29 December 2006
96,970
105,500
105,506
13.05

Batu Pekaka Estate
Located along the Sungai Petani/Baling main road, about 18 kilometres from Sungai Petani town, Kedah

Net land area of 968.7 hectares and planted area of 899.4 hectares

Boustead Properties Berhad

3 years 2,330 Cultivation of palm oil 29 December 2006
38,630
44,000
44,228
5.47

Chamek Estate
Located along the eastern side of the train tracks next to Kampung Chamek, Johor

Net land area of 816.7 hectares and planted area of 802.8 hectares

Boustead Properties Berhad

3 years 2,700 Cultivation of palm oil 29 December 2006
22,020
39,000
39,075
4.84

Telok Sengat Estate
Located along both sides of the road leading to Telok Sengat village about 28.8 km southeast of Kota Tinggi town, Johor

Net land area of 3,692.71 hectares and planted area of 3,513.3 hectares

Boustead Heah Joo Seang Sdn. Bhd.

3 years 15,106 Cultivation of palm oil 29 December 2006
138,590
202,000
202,438
25.05

Telok Sengat Mill
P.O. Box 513, 81909 Kota Tinggi, Johor

Held under Telok Sengat Estate with designated land area of 19.2 hectares. Mill capacity is around 30 MT/ hour

Boustead Heah Joo Seang Sdn. Bhd.

3 years Rental under Telok Sengat Estate Processing of palm oil 29 December 2006
8,810
11,553
11,553
1.43
Lepan Kabu Estate
Located at the 75th km post Kota Bharu/ Gua Musang main road, Kuala Krai, Kelantan
Net land area of 2,036.2 hectares and planted area of 1,985.4 hectares Boustead Plantations Berhad 3 years 6,385 Cultivation of palm oil 26
June
2007
67,610
79,500
80,058
9.91
Lepan Kabu Mill
Kampung Kuala Pahi, 18000 Kuala Kerai, Kelantan
Held under Lepan Kabu Estate with designated land area of 8.0 hectares. Mill capacity is 20 MT/ hour Boustead Plantations Berhad 3 years Rental under Lepan Kabu Estate Processing of palm oil 26
June
2007
4,140
4,471
4,471
0.55
Malakoff Estate
Located at Mukim 6, 12 and 13, District of Seberang Perai Utara, Pulau Pinang
Net land area of 1,399.2 hectares and planted area of 1,342.5 hectares Boustead Rimba Nilai Sdn. Bhd. To commence on 1 January 2009 Cultivation of palm oil 11 December 2008
100,500
100,500
101,069
12.51
Bebar Estate
Located at Mukim of Keratong, District of Rompin, Pahang
Net land area of 2,340.6 hectares and planted area of 2,268.6 hectares Boustead Plantations Berhad To commence on 1 January 2009 Cultivation of palm oil 11 December 2008
88,300
88,300
88,869
11.00
     
41,592
660,700
805,224
808,043
100
             


1. The investment properties were valued by independent professional valuers using the investment (discounted cash flow)
  method. Save and except for Malakoff and Bebar Estates, the plantation assets were valued in September 2008 by
  CH Williams Talhar & Wong Sdn Bhd. The Malakoff and Bebar Estates were valued in June 2008 by Azmi & Co Sdn
  Bhd.


 

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