Tropicana Corporation Berhad Annual Report 2019
For the financial year ended 31 December 2019 Notes to the Financial Statements 9. PROFIT/(LOSS) BEFORE TAX The following amounts have been included in arriving at profit/(loss) before tax: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Employee benefits expenses (Note 10) 167,897 130,620 23,513 15,704 Auditors’ remuneration: - audit fee 1,212 987 335 264 - non-audit fee 23 58 7 7 Depreciation of property, plant and equipment (Note 15) 27,168 24,258 548 456 Depreciation of right-of-use assets (Note 35) 9,606 – 1,671 – Amortisation of intangible assets (Note 22) 271 106 – – Minimum operating lease payments: - office premises – 3,502 – 1,420 - office equipment – 109 – – Amortisation of deferred license fees (Note 34(a)) (4,466) (4,402) – – Amortisation of security retainers accumulation fund (Note 23(b)(ii)) 11 11 – – Unrealised returns on security retainers accumulation fund (Note 23(b)(ii)) (216) (281) – – Net fair value loss on investment properties (Note 17) 674 – – – Impairment loss on: - property, plant and equipment (Note 15) 50,767 – – – - trade and other receivables 1,588 10,255 – 12 - investments in subsidiaries (Note 18) – – 62,916 6,266 - intangible assets (Note 22) 25,643 1,475 – – Property, plant and equipment written off 4,976 48 – – Loss on disposal of: - investment properties 3,255 – – – - assets classified as held for sale 538 – – – Loss on foreign exchange: - realised 131 235 – – - unrealised 5 2 – – Inventories written down 56,314 – – – Bad debts written off 839 80 – – Direct operating expenses arising from investment properties 7,216 8,014 – – Management fees charged by a subsidiary (Note 36(a)) – – 6,398 5,594 Property development costs written off (Note 16(b)) 16,996 – – – Liquidated ascertained damages to purchasers 3,401 1,409 – – Liquidated ascertained damages from contractors (12,860) – – – Expenses relating to short-term leases 515 – – – Expenses relating to low-value assets 287 – – – Included in auditors’ remuneration of the Company amounting to RM197,300 (2018: RM139,000) is borne and paid by the Company on behalf of its subsidiaries. Tropicana Corporation Berhad Annual Report 2019 pg 160 About Tropicana Our Strategic Performance Our Leadership
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