MKH Annual Report 2018

159 MKH Berhad Annual Report 2018 20. PROPERTY DEVELOPMENT COSTS The Group 2018 2017 RM RM At cost: Freehold land At beginning of year 110,620,937 129,253,132 Additions 69,675,547 2,437,435 Transfer from land held for property development (Note 17) 59,693,359 40,745,028 Transfer from joint venture deposits (Note 19 (h)) 15,265,716 - Tranfer from prepayments (Note 19 (j) (ii)) 22,970,197 - Transfer to inventories (14,288,605) (19,496,482) Adjustment on completion of projects (59,709,516) (42,318,176) At end of year 204,227,635 110,620,937 Leasehold land At beginning of year 228,498,496 179,537,672 Additions 119,886 476,488 Reversal of provision for landowners’ entitlement (2,154,229) (744,462) Transfer from land held for property development (Note 17) 18,277,835 115,446,844 Transfer to inventories (9,341,879) (20,992,035) Adjustment on completion of projects (49,594,837) (45,226,011) At end of year 185,805,272 228,498,496 Development costs At beginning of year 531,191,372 496,365,587 Additions 398,290,689 405,275,857 Transfer from prepayments (Note 19 (j) (ii)) 5,627,536 - Transfer from land held for property development (Note 17) 21,981,744 51,523,091 Transfer to inventories (162,543,802) (82,018,190) Adjustment on completion of projects (420,522,814) (339,954,973) At end of year 374,024,725 531,191,372 Total land and development costs 764,057,632 870,310,805 Less: Costs recognised as an expense in profit or loss At beginning of year 395,341,528 420,157,582 Additions 431,829,074 402,683,106 Adjustment on completion of projects (529,827,167) (427,499,160) At end of year 297,343,435 395,341,528 466,714,197 474,969,277 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2018