Annual Report 2012 - IOI Group

24. PROPERTY DEVELOPMENT COSTSGroupAccumulatedFreeholdlandLong termleaseholdlandDevelopmentcostscost chargedto profitor lossTotalRM’000 RM’000 RM’000 RM’000 RM’0002012At costAt beginning of financial year 303,646 10,527 3,928,780 (4,007,043) 235,910Costs incurred 3,035 – 361,985 – 365,020Transfer from land held for propertydevelopment (Note 16) 19,515 12,303 116,047 – 147,865Transfer to inventories (6,574) (410) (91,367) – (98,351)Transfer from investment properties(Note 17) 7,400 – – – 7,400Recognised as expense in profit or lossas part of cost of sales – – – (295,470) (295,470)At end of financial year 327,022 22,420 4,315,445 (4,302,513) 362,3742011At costAt beginning of financial year 276,701 5,865 3,676,652 (3,602,037) 357,181Costs incurred 4,497 – 287,459 – 291,956Transfer from land held for propertydevelopment (Note 16) 23,815 4,662 48,736 – 77,213Transfer to inventories (1,132) – (22,117) – (23,249)Transfer to investment properties (Note 17) (235) – (61,950) – (62,185)Recognised as expense in profit or lossas part of cost of sales – – – (405,006) (405,006)At end of financial year 303,646 10,527 3,928,780 (4,007,043) 235,910Annual Report 2012IOI CORPORATION BERHAD 183