3. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) (d) As disclosed in Note 16 to the financial statements, the Group entered into a lease and sale arrangement to dispose of its vessel and certain associated equipment. Accordingly, the assets have been presented in the statements of financial position as "Assets classified as held for sale", measured at the lower of their carrying amount and fair value less costs to sell. An impairment loss of approximately RM11,810,000, representing the write-down of the assets was recognised in “Other operating expenses” line item of the statements of profit or loss and other comprehensive income. 4. RIGHT-OF-USE ASSETS Leasehold Buildings land Total Group RM’000 RM’000 RM’000 Carrying amounts At 1 July 2022 250 56,217 56,467 Additions 4,273 - 4,273 Depreciation charges (1,571) (2,261) (3,832) Adjustments - 958 958 Lease modification 85 - 85 Foreign currency translation 27 113 140 At 31 December 2023/1 January 2024 3,064 55,027 58,091 Depreciation charges (1,495) (1,285) (2,780) Adjustments (477) - (477) Modification of lease liabilities 371 - 371 Derecognition due to lease modification (107) - (107) Foreign currency translation 38 (105) (67) At 31 December 2024 1,394 53,637 55,031 The Group leases certain office buildings, warehouses and leasehold land of which the leasing activities are summarised below: (a) Office buildings and warehouses The Group has leased certain office buildings and warehouses that run between 3 years to 4 years (31.12.2023: 1 year to 3 years), with an option to renew the lease after that date. The Group is allowed to sublease the office buildings and warehouses. (b) Leasehold land The Group leases a land which will expire in June 2059 with an option to renew the lease for another 39 years upon the expiry of the initial lease period. 143 Financial Statements DAGANG NeXCHANGE BERHAD Integrated Report 2024 NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024
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