The Board of Directors of Chuan Huat Resources Berhad ("CHRB" or the "Company"), wishes to announce that, pursuant to Paragraph 9.19 (46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, that CHRB and its subsidiary companies (the "Group") had undertaken a valuation exercise ("Valuation") on the properties of the Company's Non-Current Asset: Property, Plant & Equipment ("PPE"), Right-of-Use Assets ("ROU") and Investment Property ("IP"). The Valuation is not subject to approval of any regulatory authorities.
The Board of Directors of CHRB had on 27 August 2026 approved the incorporation of the revaluation surplus in the unaudited financial statement of CHRB for the fourth quarter ended 30 June 2026.
PURPOSE
The revaluation was carried out on a regular basis to reflect the fair value of the Group's PPE, ROU and IP in accordance with the Group's accounting policy and is in compliance with the Malaysian Financial Reporting Standards ("MFRS") 116 for valuation of PPE, MFRS 16 for valuation of ROU and MFRS 140 for the valuation of IP.
REVALUATION SURPLUS AND FAIR VALUE GAIN
The details of the revaluation surplus/(deficit) are set out in the Appendix A attached herein. The valuation of the relevant properties in Malaysia was conducted by a registered valuer, Raine & Horne International Zaki + Partners Sdn. Bhd., while the valuation of the properties in Cambodia was conducted by C.P.L Cambodia Properties Limited. The valuations were conducted by reference to the open market value based on existing use basis.
At the consolidated level, a revaluation surplus of RM48.02 million with deferred tax of RM8.97 million has been incorporated into the unaudited financial statement of CHRB for the fourth quarter ended 30 June 2026.
The Group recognised a revaluation surplus of RM33.46 million, with deferred tax of RM7.51 million in respect of PPE and ROU assets. The revaluation surplus of RM25.95 million was recognised in Other Comprehensive Income ("OCI") and recorded in the revaluation reserve. In addition, a fair value gain of RM14.56 million, with deferred tax RM1.46 million arising from the revaluation of IP was recognised in the Other Income under Statement of Comprehensive Income.
The consolidated net assets value per share of CHRB based on the unaudited results of the Group increased by RM0.28 for the fourth quarter ended 30 June 2026.
Copies of the valuation reports are available for inspection at the registered office of CHRB at Wisma Lim Kim Chuan, Lot 50A Jalan 1/89B, 3 mile off Jalan Sungai Besi, 57100 Kuala Lumpur during normal business hours on a working day for a period of three (3) months from the date of this announcement.
The announcement is dated 27 August 2026.