Kimlun Corporation Berhad Annual Report 2018

18. Land held for development and development properties (a) Land held for development Freehold and Development leasehold land costs Total Group RM RM RM At 1 January 2018 60,682,723 8,880,763 69,563,486 Additions 636,349 41,651 678,000 At 31 December 2018 61,319,072 8,922,414 70,241,486 At 1 January 2017 44,564,376 7,201,051 51,765,427 Additions 16,365,475 1,694,643 18,060,118 Disposal (247,128) (14,931) (262,059) At 31 December 2017 60,682,723 8,880,763 69,563,486 (b) Development properties Freehold and Development leasehold land costs Total Group RM RM RM At 31 December 2018 Cumulative cost of development properties costs At 1 January 2018 29,750,751 2,288,761 32,039,512 Costs incurred during the year 71,685,452 1,727,857 73,413,309 At 31 December 2018 101,436,203 4,016,618 105,452,821 Cumulative costs recognised in profit or loss - - - Carrying amount At 31 December 2018 101,436,203 4,016,618 105,452,821 At 31 December 2017 Cumulative cost of development properties At 1 January 2017 34,837,032 29,269,711 64,106,743 Costs incurred during the year - 7,490,217 7,490,217 Unsold units transferred to inventories (2,274,818) (14,744,028) (17,018,846) Reversal of completed project (2,811,463) (19,727,139) (22,538,602) At 31 December 2017 29,750,751 2,288,761 32,039,512 Cumulative costs recognised in profit or loss At 1 January 2017 (974,885) (8,974,753) (9,949,638) Recognised during the year (1,836,579) (10,752,386) (12,588,965) Reversal of completed project 2,811,464 19,727,139 22,538,603 At 31 December 2017 - - - Carrying amount At 31 December 2017 29,750,751 2,288,761 32,039,512 Annual Report 2018 100 For the financial year ended 31 December 2018 (cont’d) NOTES TO THE FINANCIAL STATEMENTS