continued - The Lion Group

14. PROPERTY, PLANT AND EQUIPMENT (continued)
The net book value of property, plant and equipment held under hire purchase and finance lease arrangements
is as follows:
72
Group
2010 2009
RM’000 RM’000
Motor vehicles 619 1,241
Plant and machinery 4,139 4,809
15. PROPERTY DEVELOPMENT ACTIVITIES
(a) Land Held for Property Development
4,758 6,050
Group
2010 2009
RM’000 RM’000
At cost
Land cost 32,015 32,015
Development cost 1,186 1,186
Transfer to property development costs (9,662) –
(b) Property Development Costs
23,539 33,201
Group
2010 2009
RM’000 RM’000
Property development costs at 1 July/date of acquisition:
Land cost 15,287 29,867
Development costs – 10,821
15,287 40,688
Cost incurred during the year:
Development costs 9,674 –
9,674 –
Reversal of completed projects (31,965) (2,428)
Costs recognised in income statement:
At 1 July – –
Recognised during the year (33,496) (2,428)
Reversal of completed projects 31,965 2,428
(1,531) –
Transfer from land held for property development 9,662 –
Transfer to inventories – (22,973)
At 30 June 1,127 15,287
The land has been pledged as security for LCB SPV Debts issued by a subsidiary as disclosed in Note 32.
The title in respect of the land has yet to be registered in the name of the subsidiary.