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The purpose of this paper is to examine the relationship between intellectual capital (IC) performance (value-added intellectual coefficient (VAIC)) and company characteristics with IC disclosure (ICD) in Malaysian listed companies.

Sample of the study is 68 biggest Malaysian companies listed in Malaysian Stock Exchange based on market capitalization in year 2006. The paper follows the classification of ICD by Huang et al. (2007), with three broad IC categories in 45 items. Content analysis was used to collect the IC information from the annual reports. Regression analysis was conducted for VAIC and its components. Log linear analysis was also conducted to cater the possible misspecification in the model.

Results of the study show that VAIC is negatively related to ICD. Further classification of VAIC shows that intellectual capital efficiency and human capital efficiency are negatively related to ICD whilst structural capital efficiency is not related to ICD. Company size and leverage are found to be positively related to ICD.

Negative association between VAIC and ICD suggests that companies reduce ICD for competitive advantage reason which supports the proprietary cost theory. The findings of the study may provide some evidence to regulators to enhance the reporting practices of IC for the benefits of users of financial reporting in making relevant decisions. The focus should be given on the reporting of human capital items.

This is the first paper to use IC framework by Huang et al. (2007). Consistency of findings with other studies using different IC framework can be compared for the choice of IC framework in future studies.

Retrofitting and rehabilitation are part of the conservation approach in Heritage Building Conservation Guideline 2016 in Malaysia. Heritage buildings can be retrofitted to preserve their culture and history while being given a new lease. Rehabilitation is a preservation requirement that is more flexible since it assumes that the structure has already deteriorated to the point where repairs are required to prevent further deterioration. Although the strategies of these two approaches are different, their combination resulted in sustainable heritage building maintenance. This long-term maintenance strategy is necessary, especially for Malaysia's numerous heritage schools, which have serious maintenance problems as a result of infrequent maintenance, repairs, and funding shortages.

This study involved secondary data from an intensive literature review along with a comparative study from articles review and context analysis. A comparative study was conducted to determine the typical issue with heritage school buildings and the best maintenance practice for these structures. Finally, it involved a SWOT analysis study of retrofitting and rehabilitating heritage school buildings will be discussed in this study as well.

The findings of this study will focus on developing a strategic planning framework and maintenance for heritage school buildings in Malaysia to achieve sustainable maintenance. It will also highlight sustainable maintenance best practices for heritage school buildings in Malaysia. Finally, SWOT analysis will go over the pros and cons of retrofitting and rehabilitation for these buildings.

This paper put forward the requirements of strategic planning in heritage school buildings and outlines the significance of sustainable maintenance for educational buildings. It is an alternative for cost savings that has not been extensively investigated in previous studies.