154 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) DATASONIC GROUP BERHAD FINANCIAL STATEMENT 06 6. RIGHT-OF-USE ASSETS (CONT’D) Office Premise Leasehold Land Total Company RM’000 RM’000 RM’000 Cost At 1 April 2022 - 10,740 10,740 Addition 1,430 - 1,430 At 31 March 2023 1,430 10,740 12,170 Accumulated Depreciation At 1 April 2022 - 1,787 1,787 Charge for the year 172 199 371 At 31 March 2023 172 1,986 2,158 Net Book Value 1,258 8,754 10,012 Leasehold Land Motor Vehicles Total Company RM’000 RM’000 RM’000 Cost At 1 April 2021 10,740 702 11,442 Reclassification to property, plant and equipment - (702) (702) At 31 March 2022 10,740 - 10,740 Accumulated Depreciation At 1 April 2021 1,589 307 1,896 Charge for the year 198 47 245 Reclassification to property, plant and equipment - (354) (354) At 31 March 2022 1,787 - 1,787 Net Book Value 8,953 - 8,953 (i) Leasehold land The Group entered into 2 non-cancellable operating lease agreements for the use of the land. The leases are for a period of 54 years with no renewal or purchase option in the agreements. The leases do not allow the Group to assign, transfer or sublease the whole or any part of the land. The leasehold land of the Group and of the Company amounting to RM8,754,000 and RM8,754,000 (2022 - RM11,027,000 and RM8,952,000) is charged to licensed banks for facilities granted to the Group and the Company respectively as at the end of the financial year. (ii) Office Premise The Company entered into an operating lease agreement for the use of the office premise. The lease agreement is for a period of 2 years with no renewal or purchase option.
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