PETALING JAYA: 1Malaysia Development Bhd’s (1MDB) yearly revaluation of its land meant for development is not an exercise that other property developers adopt because it can lead to complexities if there is a downturn in the sector, according to accountants and property consultants.
A property consultant said only companies such as real estate investment trusts (REITs) constantly revalue land, as the main intention of their business was to hold land and receive rental income.
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