149 ANNUAL REPORT 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (cont’d) 7. PROPERTY, PLANT AND EQUIPMENT (CONT’D) Accumulated Carrying At Cost Depreciation Amount The Group RM’000 RM’000 RM’000 2024 Vessels 646,474 (91,383) 555,091 Vessel equipment 23,275 (7,916) 15,359 Motor vehicles 794 (472) 322 Dry docking 11,784 (2,846) 8,938 Office equipment 932 (530) 402 Renovation 585 (205) 380 Capital work-in-progress 37,709 - 37,709 721,553 (103,352) 618,201 2023 Vessels 548,415 (61,437) 486,978 Vessel equipment 13,896 (4,566) 9,330 Motor vehicles 281 (229) 52 Dry docking 5,375 (1,327) 4,048 Office equipment 774 (408) 366 Renovation 473 (93) 380 569,214 (68,060) 501,154 (a) The carrying amount of property, plant and equipment of the Group which had been pledged to licensed banks as security for banking facilities granted to the Group as disclosed in Note 19(b)(iv) to the financial statements were as follows:- The Group 2024 2023 RM’000 RM’000 Vessels 43,234 158,147 (b) Dry docking represents capitalisation of expenditure incurred on major inspection and overhaul for certain vessels of the Group. (c) Included in the property, plant and equipment of the Group were vessels namely, Keyfield Wisdom and Keyfield Helms 1 held under instalment arrangements. The total carrying amount of assets which had been pledged as security for the other payables of the Group as disclosed in Notes 22(a) and 22(b) to the financial statements were as follows:- The Group 2024 2023 RM’000 RM’000 Vessels - 124,402
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