DESTINI Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS 13. Other Investment This represents investment stated at cost in a local golf club and resort, which entitles the Group’s and the Company’s management and staff to utilise the facilities. Group 2019 2018 RM RM At cost Spare parts and consumables 3,688,941 3,802,570 Raw materials 7,319,980 3,474,464 Work-in-progress 1,668,776 634,694 Finished goods 816,702 3,751,230 13,494,399 11,662,958 Recognised in profit or loss: Inventories recognised as cost of sales 33,407,046 18,201,751 Inventories written off 13,194 - The inventories are written off when it has lost its value and cannot be sold due to damage, theft, loss, or decline in market value. Group 2019 2018 RM RM Current Contract assets Construction contract 17,513,244 49,775,224 Contract liabilities Construction contract 6,245,280 6,477,984 The significant changes in the contract assets and contract liabilities during the financial year relating to change in measure of construction progress. 14. Inventories 15. Contract Assets/(Liabilities) Group Company 2019 2018 2019 2018 RM RM RM RM Golf club membership 320,000 320,000 150,000 150,000 06 FINANCIAL STATEMENTS DESTINI BERHAD 156