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174
Gamuda Berhad (29579-T) • Annual Report 2012
12. Property, plant and equipment (cont’d.)
(i)
had the revalued land and buildings been carried at historical cost less accumulated depreciation, the net
book value of the land and buildings that would have been included in the financial statements of the Group
and of the Company are as follows:
Group
Company
2012
2011
2012
2011
RM’000
RM’000
RM’000
RM’000
Land and buildings
2,098
2,179
1,344
1,398
(ii)
The net carrying amount of property, plant and equipment pledged as securities for borrowings (Note 34(b)(i))
is RM1,034,000 (2011: RM812,000).
(iii)
During the year, the Company disposed freehold land with a carrying amount of RM9,104,000 to a subsidiary
based on its current market value of RM30,000,000. Accordingly, impairment loss of RM20,896,000 which
was recognised in prior years was reversed before the transfer. The impairment loss relates to sub-structure
cost for building under construction which was discontinued. The Group now decided to construct a building
using the existing sub-structure and hence the write back of those impaired costs as the sub-structure is still
usable.
13. Land held for property development and property development costs
(a)
Land held for property development
Freehold
Leasehold Development
land
land
costs
Total
RM’000
RM’000
RM’000
RM’000
Group
Cost
At 1 August 2011
156,069
142,953
91,850
390,872
Additions
11,000
-
25,364
36,364
Transfer from property development costs
(Note 13(b))
10,427
143,160
49,115
202,702
Reversal of land costs (i)
(1,577)
-
-
(1,577)
Transfer to property development costs
(Note 13(b))
(21,434)
(18,321)
(7,752)
(47,507)
At 31 July 2012
154,485
267,792
158,577
580,854
At 1 August 2010
186,862
718
90,699
278,279
Additions
-
-
14,206
14,206
Transfer from amount due from customers
on contract
-
142,235
-
142,235
Transfer to property development costs
(Note 13(b))
(30,793)
-
(13,055)
(43,848)
At 31 July 2011
156,069
142,953
91,850
390,872
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012