NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 10. GOODWILL THE GROUP 2023 RM’000 2022 RM’000 Goodwill arising from consolidation 18 18 Accumulated impairment losses (18) (18) At 31 March * * * - Less than RM1,000 11. INVENTORIES Note THE GROUP 2023 RM’000 2022 RM’000 Non-current Properties held for future development 11(a) 773,536 802,960 Current Properties under development for sale 11(b) 350,304 385,625 Completed properties held for sale 11(c) 47,073 75,088 Operating supplies and materials 11(d) 237 2,479 397,614 463,192 Recognised in profit or loss:- Inventories of property development 48,384 101,931 Cost of property development recognised during the current financial year 538,193 260,354 (i) Included in the development costs are interests on borrowings capitalised during the financial year of RM8,759,000 (2022 – RM Nil). (ii) Certain development properties amounted to RM229,329,000 (2022 – RM225,290,000) have been pledged to secure borrowings as disclosed in Notes 24, 25 and 28 to the financial statements. INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 185
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