16. INVENTORIES (CONT’D.) (c) Land held for sales (cont’d.) Group 2024 2023 RM’000 RM’000 Lower of cost and net realisable value At 1 January 129,803 687,536 Additions 28,448 75,374 Transfer from/(to) land held for property development (Note 16(a)) 390,884 (425,298) Inventories written down (133,041) (25,768) Reversal of inventories written down – 18,874 Disposals (Note 5) (106,268) (200,915) At 31 December 309,826 129,803 1,117,644 187,899 Certain inventories with carrying amount of RM5,774,335,000 (2023: RM6,357,809,000) are pledged as securities for bank borrowings as disclosed in Note 32. 17. INVESTMENT PROPERTIES Freehold Leasehold Construction land and land and in-progress buildings buildings (“CIP”) Total RM’000 RM’000 RM’000 RM’000 Group At 1 January 2024 134,387 1,202,414 110,965 1,447,766 Additions 1,570 – 14,488 16,058 Fair value gain adjustments (Note 6) 2,482 600 22,119 25,201 Disposal – (933,701) – (933,701) Transfer to property, plant and equipment (Note 14) – (184) – (184) Transfer from property development costs (Note 16(b)) – – 8,877 8,877 Transfer to assets classified as held for sale (Note 27) (9,750) (26,750) (102,458) (138,958) Reclassification 33,000 – (33,000) – Adjustments1 – (9,949) – (9,949) At 31 December 2024 161,689 232,430 20,991 415,110 At 1 January 2023 135,128 1,225,724 97,116 1,457,968 Additions 334 – 4,704 5,038 Fair value gain/(loss) adjustments (Note 6) 1,425 (1,120) – 305 Disposal (2,500) – – (2,500) Transfer from property, plant and equipment (Note 14) – 4,240 – 4,240 Transfer from land held for property development (Note 16(a)) – – 9,145 9,145 Transfer to assets classified as held for sale (Note 27) – (26,200) – (26,200) Adjustment1 – (230) – (230) At 31 December 2023 134,387 1,202,414 110,965 1,447,766 1 During the financial year, the Group has finalised certain costs incurred for its leasehold land and buildings and arising therefrom RM9,949,000 (2023: RM230,000) was adjusted against other payables. FINANCIAL STATEMENTS & OTHER INFORMATION 277
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