MKH BERHAD | ANNUAL REPORT 2023 193 12. INTANGIBLE ASSETS (CONT’D) 12.2 Other intangible asset The Group 2023 2022 RM RM Capitalised development At beginning of year 57,069,822 54,893,674 Additions 6,294,572 2,176,148 Amortisation (Note 6) (590,000) - At end of year 62,774,394 57,069,822 Other intangible asset represents expenditure incurred to construct a commuter station for Perbadanan Aset Keretapi (“PAK”) in consideration for the right to lease a plot of land from PAK for a period of 60 years (2022: 60 years) as disclosed in Note 11. The status of the construction is as disclosed in Note 37. 13. PREPAID LEASE PAYMENTS The Group 2023 2022 RM RM At beginning of year 39,333,616 40,640,831 Amortisation for the financial year (Note 6) (1,524,099) (1,527,030) Effect of movements in exchange rate (51,126) 219,815 At end of year 37,758,391 39,333,616 The above is leasehold land with remaining unexpired lease period ranging from 14 years to 26 years (2022: 15 to 27 years). The leasehold land of RM18,190,570 (2022: RM20,134,476) are pledged as security for credit facilities granted to the Group as disclosed in Note 33. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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