MKH BERHAD | ANNUAL REPORT 2023 211 18. LAND HELD FOR PROPERTY DEVELOPMENT The Group 2023 2022 RM RM Freehold land At beginning of year 467,938,150 486,494,477 Additions 3,803,435 6,398,811 Addition of provision for landowners’ entitlements - 2,269,000 Disposal (65,686) - Reclassify from development cost 44,813 - Transfer to property development costs (Note 21) (25,288,901) (27,224,138) At end of year 446,431,811 467,938,150 Leasehold land At beginning of year 134,743,824 131,743,105 Additions 2,780 1,051,695 (Reversal)/Addition of provision for landowners’ entitlements (8,264,000) 1,949,024 Transfer from property development costs (Note 21) 9,557,780 - At end of year 136,040,384 134,743,824 Total land 582,472,195 602,681,974 Development costs At beginning of year 282,286,393 271,084,243 Additions 13,496,831 20,122,957 Development expenditure expensed off (Note 6) - (132,958) Disposal (106,897) - Reclassify to freehold land (44,813) - Transfer to property development costs (Note 21) (3,010,376) (8,787,849) At end of year 292,621,138 282,286,393 Total land and development costs 875,093,333 884,968,367 Less: Accumulated impairment loss At beginning of year (6,284,988) (6,284,988) Reversal (Note 6) 824,897 - At end of year (5,460,091) (6,284,988) 869,633,242 878,683,379 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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