165 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD 4. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (CONT’D) Right-of-use assets (cont’d) Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:- Retail Outlets Motor Vehicles Premises Total RM’000 RM’000 RM’000 RM’000 Group Cost At 1 January 2023 69,400 782 5,739 75,921 Additions 17,597 313 4,346 22,256 Lease modifications (40) - 11 (29) Lease termination (11,857) - - (11,857) Exchange differences 2,618 49 430 3,097 At 31 December 2023 77,718 1,144 10,526 89,388 Additions 21,056 - 466 21,522 Derecognition - (279) - (279) Lease modifications 2,298 - - 2,298 Exchange differences (3,396) (35) (573) (4,004) At 31 December 2024 97,676 830 10,419 108,925 Accumulated depreciation At 1 January 2023 28,123 501 1,186 29,810 Charge for the financial year 11,073 67 2,013 13,153 Lease termination (11,117) - - (11,117) Exchange differences 921 33 109 1,063 At 31 December 2023 29,000 601 3,308 32,909 Charge for the financial year 14,351 170 2,424 16,945 Derecognition - (279) - (279) Lease modifications (60) - - (60) Exchange differences (1,249) (26) (261) (1,536) At 31 December 2024 42,042 466 5,471 47,979 Net carrying amount At 31 December 2024 55,634 364 4,948 60,946 At 31 December 2023 48,718 543 7,218 56,479 The motor vehicles of the Group with net carrying amount of RM364,000 (2023: RM543,000) were acquired under finance lease arrangements. The additional rights-of-use assets amounted to RM21,522,000 (2023: RM22,256,000) were derived after netting off lease incentive received of RM 534,000 (2023: RM Nil).
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