Page 188 - MSM_AR2020

CHAIRMAN’S DELIVERING MSM MANAGEMENT DISCUSSION GROUP FINANCIAL
STATEMENT VALUE OVERVIEW & ANALYSIS REPORT

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

17 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

Furniture, Bearer
fittings, plants –
equipment Assets Oil Palm,
Freehold Plant and and motor under Rubber and
Group land Buildings machinery vehicles construction Mango Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

2019
Cost
186 At 1 January 2019 6,486 303,197 777,993 97,138 923,763 71,443 2,180,020
Additions - 73 1,351 1,012 19,129 2,129 23,694
Write-offs - (3,224) (41) (66) (358) - (3,689)
MSM MALAYSIA HOLDINGS BERHAD Annual Report 2020
Transfer to Assets Held for Sale
(Note 29) - (7,530) (1,621) (2,958) - (73,572) (85,681)
Reclassifications - 186,888 733,533 2,342 (922,763) - -

At 31 December 2019 6,486 479,404 1,511,215 97,468 19,771 - 2,114,344

Accumulated depreciation
At 1 January 2019 - 104,555 458,110 55,604 - 506 618,775
Charge for the financial year - 11,572 60,177 7,355 - 605 79,709
Write-offs - (2,166) (39) (40) - - (2,245)
Transfer to Assets Held for Sale
(Note 29) - (4,278) (1,397) (2,568) - (1,111) (9,354)

At 31 December 2019 - 109,683 516,851 60,351 - - 686,885

Accumulated impairment
At 1 January 2019 - 1,321 43 129 - - 1,493
Transfer to Assets Held for Sale
(Note 29) - - (43) (60) - - (103)
Impairment loss - 19,168 108,197 1,811 1,461 - 130,637

At 31 December 2019 - 20,489 108,197 1,880 1,461 - 132,027
Net book value
At 31 December 2019 6,486 349,232 886,167 35,237 18,310 - 1,295,432
Included in the Group’s assets under construction during the financial year are finance costs capitalised amounting to RM1,095,000
(2019: RM7,670,000) (Note 10) applying a capitalisation rate of 3.36% (2019: 5.34%).