17. INVENTORIES Group 2021 2020 Note RM’000 RM’000 (Restated) At cost Raw materials 11,512 7,224 Work-in-progress 4,435 3,062 Manufactured inventories 11,767 9,870 Trading merchandise 87 346 Other consumables 2,410 1,659 30,211 22,161 Agricultural produce 206 447 Property development costs 18 31,502 29,268 At net realisable value Trading merchandise - 1,129 Land held for development - 7,200 61,919 60,205 (a) During the financial year, inventories of the Group recognised as cost of sales amounted to RM58,353,000 (2020: RM48,148,000). There are no inventories written down during the financial year (2020: RM1,704,000) while the inventories written off during the financial year amounted to RM35,000 (2020: nil) are recognised in cost of sales. (b) In previous financial year, land held for development written down was amounted to RM1,460,000. (c) The Group reversed RM2,597,000 (2020: RM1,915,000) in respect of inventories written down in previous financial years, which were subsequently not required as the Group was able to sell those inventories above their carrying amounts. 18. PROPERTY DEVELOPMENT COSTS Group 2021 2020 RM’000 RM’000 (Restated) Property development costs at beginning of financial year: - leasehold land 21,569 21,569 - development costs 20,306 11,347 - accumulated cost recognised in profit or loss (12,607) (5,356) 29,268 27,560 NOTES TO THE FINANCIAL STATEMENTS P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 148 31 December 2021 (cont’d)
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