Basic HTML Version
176
Gamuda Berhad (29579-T) • Annual Report 2012
13. Land held for property development and property development costs (cont’d.)
(b)
Property development costs (cont’d.)
Freehold
Leasehold Development
land
land
costs
Total
RM’000
RM’000
RM’000
RM’000
Group
At 31 July 2011
Cumulative property development costs
At 1 August 2010
243,815
6,802
501,536
752,153
Costs incurred during the year
114,313
-
657,260
771,573
Transfer from amount due from customers
on contract
-
83,535
-
83,535
Acquisition of a subsidiary
-
447,173
257
447,430
Transfer from land held for property
development (Note 13(a))
30,793
-
13,055
43,848
Reversal of completed projects
(22,089)
(2,604)
(222,996)
(247,689)
Exchange differences
-
(15,515)
(23)
(15,538)
At 31 July 2011
366,832
519,391
949,089
1,835,312
Cumulative costs recognised in profit or loss
At 1 August 2010
(35,695)
(967)
(164,135)
(200,797)
Recognised during the year
(64,437)
(2,388)
(414,591)
(481,416)
Reversal of completed projects
22,089
2,604
222,996
247,689
At 31 July 2011
(78,043)
(751)
(355,730)
(434,524)
Property development costs at 31 July 2011
288,789
518,640
593,359
1,400,788
Included in property development costs incurred during the year are:
Group
2012
2011
RM’000
RM’000
Finance costs (Note 8)
47,503
18,829
Depreciation (Note 12)
143
155
Staff costs (Note 5)
21,030
20,470
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012