MKH BERHAD | ANNUAL REPORT 2023 185 10. PROPERTY, PLANT AND EQUIPMENT (CONT’D) The Group 2022 Freehold land Long-term leasehold land Buildings Motor vehicles, plant and machinery Furniture, fittings and equipment Plantation infrastructure Bearer plants Under construction Total RM RM RM RM RM RM RM RM RM Cost/Valuation As at 1 October 2021 12,880,000 6,400,000 85,329,992 112,656,872 39,089,610 52,877,508 328,306,056 15,510,453 653,050,491 Additions - - 3,023 12,062,140 2,808,340 - - 4,158,441 19,031,944 In respect of subsidiaries disposed - - - - (12,287) - - - (12,287) Disposals - - - (735,011) (3,660) - - - (738,671) Write-offs - - (64,859) (2,803,122) (581,762) - - - (3,449,743) Reclassification - - (1,144,289) 4,378,192 63,430 178,038 14,984,992 (18,460,363) - Effect of movements in exchange rates - - 1,799,999 3,857,343 335,054 1,985,490 12,025,326 563,124 20,566,336 As at 30 September 2022 12,880,000 6,400,000 85,923,866 129,416,414 41,698,725 55,041,036 355,316,374 1,771,655 688,448,070 Accumulated Depreciation As at 1 October 2021 - 93,092 17,380,481 65,628,387 27,400,690 21,707,068 119,787,014 - 251,996,732 Charge for the financial year - 93,092 2,931,239 9,716,525 3,396,092 2,826,614 16,683,057 - 35,646,619 In respect of subsidiaries disposed - - - - (8,981) - - - (8,981) Disposals - - - (735,000) (3,659) - - - (738,659) Write-offs - - (61,335) (2,235,684) (565,306) - - - (2,862,325) Effect of movements in exchange rates - - 661,083 2,432,912 237,906 823,913 4,851,824 - 9,007,638 As at 30 September 2022 - 186,184 20,911,468 74,807,140 30,456,742 25,357,595 141,321,895 - 293,041,024 Net Carrying Amounts As at 30 September 2022 12,880,000 6,213,816 65,012,398 54,609,274 11,241,983 29,683,441 213,994,479 1,771,655 395,407,046 The freehold and leasehold land and buildings stated at valuation were revalued by the directors in September 2020 based on independent professional valuation on the market value basis using the cost and direct comparison of valuation methods, except for certain buildings located at oil palm plantation with carrying amounts (included current year additions) totalling RM9,261,076 (2022: RM9,820,198) were not revalued as at 30 September 2020. The directors are of the view that it is not practicable to fair value these buildings as these are mainly staff quarters and amenities which were built at the oil palm plantation for use by the plantation workers and there is a lack of active market for the buildings. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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