PROPERTY developers will no longer be allowed to revalue their land banks and will have to subject them to impairment tests, according to a new accounting standard issued by the Malaysian Accounting Standards Board (MASB).
MASB 32, Property Development Activities, one of two new standards issued yesterday, would make the common practice of many property companies of revaluing their land banks an offence.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!