MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...
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Notes to The Financial Statements (cont’d)<br />
5. lAND HElD foR pRopERTy DEvElopMENT AND pRopERTy DEvElopMENT CoSTS (CoNT’D)<br />
(b) property Development Costs<br />
Group<br />
2011 2010<br />
RM RM<br />
Cumulative property development costs<br />
At 1st January<br />
- freehold land 67,269,430 57,658,943<br />
- leasehold land 26,258,404 26,258,404<br />
- development costs 727,616,587 638,488,606<br />
821,144,421 722,405,953<br />
Add:<br />
Costs incurred during the financial year<br />
- development costs 66,400,567 104,076,503<br />
66,400,567 104,076,503<br />
Transfer from/(to):<br />
- property, plant and equipment (Note 4) (1,612,957) 18,636,016<br />
- land held for property development (Note 5(a)) (4,763,033) (18,654,517)<br />
- inventories (Note 12) - (5,319,534)<br />
(6,375,990) (5,338,035)<br />
At 31st December<br />
- freehold land 67,269,430 67,269,430<br />
- leasehold land 22,129,229 26,258,404<br />
- development costs 791,770,339 727,616,587<br />
881,168,998 821,144,421<br />
Cumulative costs recognised in profit or loss<br />
At 1st January 642,143,305 544,378,539<br />
Recognised during the financial year 47,025,819 97,764,766<br />
At 31st December 689,169,124 642,143,305<br />
Exchange difference (6,548,575) 735,938<br />
property development costs at 31st December 185,451,299 179,737,054<br />
Finance costs capitalised during the year 3,632,598 3,017,727<br />
68 <strong>MITRA</strong>JAYA HOLDINGS BERHAD ANNUAL REPORT 2011
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