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. 258 25. BIOLOGICAL ASSETS The Group 2024 2023 RM RM Net Book Value At beginning of year 6,231,392 5,917,360 Changes in fair value (Note 6) 2,848,371 288,344 Effect of movements in exchange rate (810,963) 25,688 At end of year 8,268,800 6,231,392 The biological assets of the Group comprise fresh fruit bunches (“FFB”) prior to harvest. Management has considered FFB less than 15 days before harvesting in the calculation of fair value. FFB more than 15 days before harvesting are excluded from the valuation as their fair values are considered negligible. The fair value measurement of the biological assets is valued using present value of net cashflows expected to be generated from the sale of FFB, adjusted for estimated oil content of unharvested FFB, less harvesting, transport and other costs to sell and is categorised within Level 2 of the fair value hierarchy is disclosed in Note 44. During the financial year, the Group harvested approximately 406,658 metric tonnes (“MT”) of FFB (2023: 410,230 MT). 26. CASH, BANK BALANCES, TERM DEPOSITS AND SHORT-TERM PLACEMENTS The Group The Company 2024 2023 2024 2023 Note RM RM RM RM Deposits with licensed banks (a) 12,637,700 12,852,000 - - Cash and bank balances 241,736,738 145,822,619 4,667,496 1,416,743 Cash held under housing development accounts (b) 99,934,102 143,440,670 - - Short-term placements (c) 154,218,308 63,670,729 - - 508,526,848 365,786,018 4,667,496 1,416,743 (a) The deposits bear effective interest at rates ranging from 1.30% to 3.00% (2023: 1.30% to 3.20%) per annum with maturity period ranging from 90 days to 3 years (2023: 30 days to 3 years).
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