MKH Berhad 177 Notes to the Financial Statements For the Financial Year Ended 30 September 2022 PROPERTY DEVELOPMENT COSTS 21. At cost: Freehold land At beginning of year Additions The Group 2022 RM 2021 RM (7,451,326) 208,315,137 184,563,119 3,442,371 (34,096,834) 184,563,119 232,016,933 107,002 Addition/(Reversal) of provision for landowners’ entitlement Transfer from land held for property development (Note 18) Transfer to inventories Adjustment on completion of projects At end of year 3,689,420 27,224,138 (3,152,585) (14,269,341) 2,042,273 (1,236,914) Leasehold land At beginning of year Additions (35,789,163) 194,502,521 227,306,963 2,775,382 (78,583,708) 227,306,963 142,540,023 115,281,087 Additions of provision for landowners’ entitlement 810,365 - Transfer from land held for property development (Note 18) Transfer from joint venture deposits (Note 20(h)) Transfer to inventories Adjustment on completion of projects At end of year - - (601,026) 39,573,486 15,150,000 (6,653,925) Development costs At beginning of year Additions (306,531,903) 560,420,037 576,321,452 297,162,277 (349,777,107) 576,321,452 611,904,680 301,640,949 Transfer from prepayments (Note 20(j)(i)) Transfer from land held for property development (Note 18) Transfer to inventories Adjustment on completion of projects At end of year - 8,787,849 (15,319,638) 17,728,191 13,751,538 (18,926,799) Total land and development costs (349,772,392) (488,872,973) 963,237,695 (462,457,649) (480,123,685) 474,364,722 508,067,849 988,191,534 Less: Costs recognised as an expense in profit or loss At beginning of year Additions Adjustment on completion of projects At end of year 480,123,685 358,521,680 616,474,761 326,106,573 Included in the above are: (i) (ii) titles of freehold land amounting to RM7,652,171 (2021: RM7,652,171) which have been pledged with a financial institution for term loan facility granted to certain subsidiaries as disclosed in Note 33; freehold land amounting to RM21,052,277 (2021: RMNil) have been deposited with a financial institution for term loan facilities granted to a subsidiary as disclosed in Note 33; and
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