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5. LAND HELD FOR PROPERTY DEVELOPMENT AND PROPERTY DEVELOPMENT COSTS cont’d
(b) Property development costs
Group
At 31 December 2011
Cumulative property development costs
Freehold
land
Leasehold
land
WCT Berhad (66538-K)
annual report 2011
Development
costs Total
RM'000 RM'000 RM'000 RM'000
At 1 January 2011 91,902 70,582 285,280 447,764
Cost incurred during the financial year 878 2,812 189,553 193,243
Transferred from land held for property
development (Note 5(a)) 31,853 - 27,496 59,349
Reversal of completed projects (15,498) - (117,973) (133,471)
Reclassification (50) - 50 -
At 31 December 2011 109,085 73,394 384,406 566,885
Cumulative costs recognised in income
statements
At 1 January 2011 (46,088) (17,735) (155,158) (218,981)
Recognised during the financial year (Note 36) (20,386) (34,764) (136,661) (191,811)
Reversal of completed projects 15,498 - 117,973 133,471
Reclassification 50 - (50) -
At 31 December 2011 (50,926) (52,499) (173,896) (277,321)
Property development costs as at
31 December 2011 58,159 20,895 210,510 289,564
119
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d