Notes to the Financial Statements for the Financial Year Ended 30 September 2024 MKH BERHAD ANNUAL REPORT 2024 Laying The Foundation of Excellence Where People Matter Guided by Leadership, Inspired by People Delivering Value That Matters to People PG. 256 21. PROPERTY DEVELOPMENT COSTS (CONT’D) Included in the above are: (i) titles of freehold land amounting to RMNil (2023: RM7,535,948) which have been pledged with a financial institution for term loan facility granted to certain subsidiaries as disclosed in Note 33; (ii) titles of freehold land amounting to RM41,515,212 (2023: RM36,320,494) have been deposited for term loan facility granted to a subsidiary as disclosed in Note 33; and (iii) freehold and leasehold land amounting to RM290,007,428 (2023: RM268,173,682) represents entitlements of the landowners pursuant to joint venture and joint land development agreements to undertake property development projects. The titles to the development land will be transferred from landowners to the property purchasers. 22. INVENTORIES The Group 2024 2023 RM RM At lower of cost and net realisable value: Raw materials 78,528 128,443 Work-in-progress 43,191 81,831 Finished goods 895,346 1,043,354 Food and beverages 5,332 3,638 Plantation consumables 14,952,582 17,706,581 Fertilisers 4,086,494 6,885,857 Crude palm oil and palm kernel 17,211,068 16,225,231 Completed development properties 59,890,271 69,095,661 97,162,812 111,170,596 During the financial year, the cost of inventories recognised as an expense in cost of sales of the Group is RM312,709,450 (2023: RM366,688,409). During the financial year, the Group has transferred completed inventories amounting to RM20,051,460 to investment properties as disclosed in Note 14 due to the change in management intention.
RkJQdWJsaXNoZXIy NDgzMzc=