NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 5. COST OF SALES Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Cost of development properties: - current year 663,962 635,492 – – - (over)/underprovision of property development costs in prior years (44,618) 1,974 – – Cost of land sold (Note 16(c)) 188,162 200,915 – – Cost of inventory properties sold 53,264 46,593 – – Cost of building materials sold 11,439 18,585 – – Cost of services rendered: - recreation and resort operations 23,078 22,178 – – - property management and maintenance fees 3,119 3,020 – – - investment properties 17,063 17,655 – – - landscape services 6,324 5,777 – – - private school operations – 15,888 – – - hotel operations 9,893 53,696 – – - management fees – – 15,476 9,222 - energy cost 5,636 4,992 – – Others 21,424 11,711 – – 958,746 1,038,476 15,476 9,222 6. OTHER INCOME Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Reversal of impairment loss on trade and other receivables 3,711 979 – – Reversal of inventories written down 3,653 18,874 – – Management fees 41,751 11,095 – – Rental income 6,580 5,689 – 105 Late payment interest 303 793 – – Gain on disposal of: - investment property – 990 – – - investments in subsidiaries (Note 18(b)(v)) – 101,421 – 90,851 - assets classified as held for sale, net: - investment in an associate 161,765 – – – - property, plant and equipment 23,022 – – – - right-of-use assets 68 – – – Fair value gain on investment properties, net (Note 17) 25,201 305 – – Fair value gain on quoted shares 31,276 – – – Forfeiture of deposits 2,655 3,531 – – Waiver of debt from a related party (Note 36(b)) 13,951 – 906 – Unrealised foreign exchange gain, net 2,670 – – – Dividend income from other investments 1,282 509 – – Others 3,530 2,029 94 – 321,418 146,215 1,000 90,956 ANNUAL REPORT 2024 264
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