GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 115 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 14. INTANGIBLE ASSETS (cont’d) Company 2019 Balance as at 1.1.2019 Additions Reclassification Amortisation charge for the financial year Balance as at 31.12.2019 RM RM RM RM RM Carrying amount Completed development costs 73,720 - 115,068 (26,248) 162,540 Development-in-progress 114,217 851 (115,068) - - 187,937 851 - (26,248) 162,540 As at 31.12.2019 Cost Accumulated amortisation Carrying amount RM RM RM Completed development costs 13,162,478 (12,999,938) 162,540 Company 2018 Balance as at 1.1.2018 Additions Amortisation charge for the financial year Balance as at 31.12.2018 RM RM RM RM Carrying amount Completed development costs 88,461 - (14,741) 73,720 Development-in-progress 92,987 21,230 - 114,217 181,448 21,230 (14,741) 187,937 As at 31.12.2018 Cost Accumulated amortisation Carrying amount RM RM RM Completed development costs 13,047,410 (12,973,690) 73,720 Development-in-progress 114,217 - 114,217 13,161,627 (12,973,690) 187,937 (a) Intangible assets are initially measured at cost. After initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses, if any. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are assessed for any indication that the asset may be impaired and are amortised on a straight line basis over their estimated economic useful lives, not exceeding ten (10) years. Intangible assets that have an indefinite useful life are tested annually for impairment or more frequently if events or changes in circumstances indicate that the intangible asset might be impaired.