PEG Petards Group Plc

RNS Number:7739Q
Petaling Tin Berhad
31 January 2002


Valuation of Fixed Assets

1.  Introduction

    Petaling Tin Berhad ("PTB") wishes to announce that a valuation exercise has
    been conducted on the following assets to assess the carrying value of the 
    following assets to comply with the Malaysian Accounting Standards Board        
    ("MASB") 23 in respect of Impairment of Assets:-

    a.  plant and machinery belonging to PTB Clay Products Sdn Bhd ("PTBCP"), a
        wholly owned subsidiary of PTB, located at Tempat of Seri Cheeding, 
        Mukim of Tanjong Duabelas, State of Selangor Darul Ehsan ("Plant & 
        Machinery"); and

    b.  a detached factory belonging to PTBCP ("Building") and vacant land 
        belonging to PTB ("Land"), both located and held within H.S. (M) 2377 
        (P.T. 548) & H.S. (M) 2376 (P.T. 547), Tempat of Seri Cheeding, Mukim of 
        Tanjong Duabelas, State of Selangor Darul Ehsan.

2.  Approvals

    The valuation is not subject to the approval of the Securities Commission or 
    any other relevant authorities.


3.  Value placed on the assets by the Valuer & Revaluation Surplus/(Deficit)

                                  Land           Building     Plant & Machinery
                                    RM                 RM                    RM

Net Book Value as at              2.00       4,862,985.00          9,733,531.00
31.10.2001

Value placed by Valuer    2,200,000.00       4,200,000.00          9,500,000.00

Estimated Revaluation     2,199,998.00        (662,985.00)          (233,531.00)
Surplus/(Deficit)

Impairment loss         Not Applicable         600,000.00            200,000.00
recognised in the 
financial statements 
for the year ended 
31.10.2001


4.  Effect on the Net Tangible Assets ("NTA") per share of the Group
 
    The impairment loss which will be incorporated in the audited financial 
    statements for the year ended 31 October 2001 will not have any material 
    effect on the NTA per share of the Group.

5.  Name of Valuer

    The valuer engaged for the said valuation exercise was Messrs Henry Butcher, 
    Lim & Long Sdn Bhd.

6.  Date of Valuation

    The dates of valuations are 25 January and 28 January 2002 for the valuation 
    of the plant & machinery and land & building respectively.




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