Notes to the Financial Statements for the Financial Year Ended 30 September 2024 Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 255 21. PROPERTY DEVELOPMENT COSTS (CONT’D) The Group 2024 2023 RM RM Leasehold land At beginning of year 176,604,944 194,502,521 Additions 2,963,899 1,184,670 Transfer to land held for property development (Note 18) - (9,557,780) Reversal of completed projects (30,664,728) (9,524,467) At end of year 148,904,115 176,604,944 Development costs At beginning of year 725,372,680 560,420,037 Additions 371,960,346 353,428,843 Reclassify from freehold land - 3,181,716 Transfer from land held for property development (Note 18) 25,067,796 3,010,376 Transfer to inventories (17,221,165) (5,662,379) Reclassify from prepayment (Note 20(h)(iv)) 2,006,444 - Reversal of completed projects (356,310,549) (189,005,913) At end of year 750,875,552 725,372,680 Total land and development costs 1,153,152,311 1,080,616,980 Less: Provision for foreseeable loss At beginning of year (2,080,070) - Additions (Note 5) (942,025) (2,080,070) Incurred during the year (Note 5) 2,412,593 - At end of year (609,502) (2,080,070) Less: Costs recognised as an expense in profit or loss At beginning of year (696,262,653) (488,872,973) Additions (426,612,714) (416,669,437) Reversal of completed projects 450,265,645 209,279,757 At end of year (672,609,722) (696,262,653) 479,933,087 382,274,257
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