PRG Holdings Berhad Annual Report 2019

ANNUAL REPORT 2019 161 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 26. DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE (continued) (d) The assets and associated liabilities held for sale as at 31 December 2019 are as follows (continued): Included in the above assets are property, plant and equipment with carrying amounts of RM6,107,000 pledged as security for the borrowings classified under liabilities directly associated with assets held for sale. Included in the above assets are right-of-use assets with carrying amounts of RM132,000 pledged as security for the lease liabilities classified under liabilities directly associated with assets held for sale. Included in the above assets are cash and bank balances of RM1,048,000 held under the Housing Development Account pursuant to Section 7A of Housing Development (Control and Licensing) Act, 1966, as amended by the Housing Developers (Housing Development Account) (Amendment) Regulations, 2002. Included in the above liabilities are other payables of RM9,278,000, which represent the present value of the remaining unpaid amount for the purchase consideration of the development land in the inventories under assets held for sale. (e) Analysis of the results of the discontinued operations is as follows: 2019 2018 PDMSB PEWA Total PDMSB PEWA Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Statement of profit or loss and other comprehensive income Revenue (402) 16,899 16,497 45,575 18,926 64,501 Cost of sales 1,334 (18,688) (17,354) (33,931) (19,333) (53,264) Gross profit/(loss) 932 (1,789) (857) 11,644 (407) 11,237 Other income 978 112 1,090 395 11 406 Distribution costs (72) (488) (560) (683) (570) (1,253) Administrative expenses (499) (984) (1,483) (1,243) (1,215) (2,458) Other expenses - (73) (73) - (168) (168) Interest income 40 1 41 53 2 55 Finance costs (478) (361) (839) (246) (202) (448) Profit/(Loss) before tax 901 (3,582) (2,681) 9,920 (2,549) 7,371 Taxation (1,474) (353) (1,827) (1,893) 347 (1,546) (Loss)/Profit for the financial year (573) (3,935) (4,508) 8,027 (2,202) 5,825 Other comprehensive loss, net of tax Foreign currency translations - (27) (27) - (70) (70) Total comprehensive (loss)/ income (573) (3,962) (4,535) 8,027 (2,272) 5,755