Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 228 229 Integrated Annual Report 2023 Notes to the Financial Statements Notes to the Financial Statements 3. PROPERTY, PLANT AND EQUIPMENT (CONT’D) Group Land RM’000 Mine, conveying, refining and port facilities RM’000 Buildings and renovation RM’000 Plant and machinery RM’000 Office equipment RM’000 Motor vehicles RM’000 Furniture and fittings RM’000 Moulds and dies RM’000 Capital work-in- progress RM’000 Total RM’000 Depreciation and impairment loss (cont’d) At 1 January 2023 Accumulated depreciation - 136,919 415,772 2,217,512 47,803 91,427 11,273 225,231 - 3,145,937 Accumulated impairment loss - - 39,294 17,255 2,633 138 - - - 59,320 - 136,919 455,066 2,234,767 50,436 91,565 11,273 225,231 - 3,205,257 Depreciation for the year - 38,056 52,267 528,869 10,005 9,260 2,724 13,730 - 654,911 Disposals - (8,892) (3,286) (15,436) (229) (2,356) (21) - - (30,220) Disposal of subsidiaries - - (78,522) (42,517) (3,586) (528) (10) - - (125,163) Written off - - - (27,801) (1,005) (2,062) (357) (10,043) - (41,268) Transfer from right-ofuse assets (Note 4) - - - 3,421 25 4,402 - - - 7,848 Effect of movements in exchange rates - 33,135 3,342 4,250 491 80 107 4,938 - 46,343 At 31 December 2023 - 199,218 428,867 2,685,553 56,137 100,361 13,716 233,856 - 3,717,708 Carrying amounts At 1 January 2022 28,145 820,116 1,825,048 4,190,466 43,966 38,921 13,459 16,527 132,224 7,108,872 At 31 December 2022/ 1 January 2023 28,105 763,377 1,856,101 4,272,150 47,747 37,526 16,453 17,490 125,936 7,164,885 At 31 December 2023 28,243 743,593 1,869,041 4,199,624 42,994 47,281 19,377 16,719 248,960 7,215,832 3. PROPERTY, PLANT AND EQUIPMENT (CONT’D) Company Capital work-inprogress RM’000 Office equipment RM’000 Motor vehicle RM’000 Total RM’000 Cost At 1 January 2022/31 December 2022/ 1 January 2023 - 38 45 83 Additions 2,431 103 - 2,534 At 31 December 2023 2,431 141 45 2,617 Depreciation At 1 January 2022 - 3 36 39 Depreciation for the year - 9 4 13 At 31 December 2022/1 January 2023 - 12 40 52 Depreciation for the year - 5 5 10 At 31 December 2023 - 17 45 62 Carrying amounts At 1 January 2022 - 35 9 44 At 31 December 2022/1 January 2023 - 26 5 31 At 31 December 2023 2,431 124 - 2,555 3.1 Security At 31 December 2023, property, plant and equipment of the Group with an aggregate carrying amount of RM50,896,000 (2022: RM12,928,000) was pledged as security and as fixed and floating charges to secure bank facilities granted to its subsidiaries (see Note 16). 3.2 Material accounting policy information (a) Recognition and measurement Freehold land and capital work-in-progress are measured at cost. Other items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. (b) Depreciation Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment from the date that they are available for use. Freehold land is not depreciated. Capital work-in-progress are not depreciated until the assets are ready for their intended use. The estimated useful lives for the current and comparative periods are as follows: • mine, conveying, refining and port facilities 4 - 65 years • buildings and renovation 10 - 50 years • plant and machinery 5 - 25 years • office equipment 10 years • motor vehicles 5 - 10 years • furniture and fittings 10 years • moulds and dies 3 - 6 years
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