MKH Annual Report 2017

17. LAND HELD FOR PROPERTY DEVELOPMENT The Group 2017 2016 RM RM Freehold land At beginning of year 538,758,245 254,567,910 Additions 11,410,116 289,888,335 Transfer from joint venture deposits for land development (Note 19 (h)) - 22,701,000 Property development costs written off - (112,722) Reclassification from/(to) development cost 838,136 (4,314,164) Transfer to property development costs (Note 20) (40,745,028) (23,972,114) At end of year 510,261,469 538,758,245 Leasehold land At beginning of year 279,382,137 117,955,124 Additions 20,949 32,231,379 In respect of subsidiary acquired (Note 30) - 78,123,647 Reversal of provision for landowners’ entitlement (1,205,132) - Transfer to non-current assets held for sale (Note 23) (7,408,134) (4,622,647) Transfer (to)/from property development costs (Note 20) (115,446,844) 55,694,634 At end of year 155,342,976 279,382,137 Total land 665,604,445 818,140,382 Development costs At beginning of year 250,684,144 187,001,104 Additions 65,928,950 70,244,104 In respect of subsidiary acquired (Note 30) - 276,353 Reclassification (to)/from land cost (838,136) 4,314,164 Property development cost written off - (71,452) Transfer to non-current assets held for sale (Note 23) (7,659,714) (2,859,043) Transfer to property development costs (Note 20) (51,523,091) (8,221,086) At end of year 256,592,153 250,684,144 Total land and development costs 922,196,598 1,068,824,526 Less: Accumulated impairment loss At beginning and end of year (6,284,988) (6,284,988) 915,911,610 1,062,539,538 Notes to the Financial Statements For the Financial Year ended 30 September 2017 148 MKH Berhad • Annual Report 2017