EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 84 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CONT’D) 6. RIGHT-OF-USE ASSETS (CONT’D) Leasehold building Capital work-in- progress Office spaces Computer equipment Total RM RM RM RM RM Group and Company 2019 Cost At 1 January 2019 - - - - - Effect of adoption of MFRS 16 - 8,384,910 1,032,561 90,765 9,508,236 At 1 January 2019, as restated - 8,384,910 1,032,561 90,765 9,508,236 Additions 11,371,290 - - - 11,371,290 Reclassification 8,384,910 (8,384,910) - - - At 31 December 2019 19,756,200 - 1,032,561 90,765 20,879,526 Accumulated depreciation At 1 January 2019 - - - - - Effect of adoption of MFRS 16 - - 372,870 35,297 408,167 At 1 January 2019, as restated - - 372,870 35,297 408,167 Charge for the financial year - - 344,187 30,255 374,442 At 31 December 2019 - - 717,057 65,552 782,609 Carrying amount At 31 December 2019 19,756,200 - 315,504 25,213 20,096,917 (a) The aggregate costs for the right-of-use assets of the Group and of the Company during the financial year acquired under lease financing and cash payments are as follows: Group Company 2020 2019 2020 2019 RM RM RM RM Aggregate costs 1,032,562 11,371,290 1,032,562 11,371,290 Less: Lease financing (1,032,562) - (1,032,562) - Cash payments - 11,371,290 - 11,371,290 (b) The remaining lease term of the leasehold building is 83 years (2019: 84 years).