Tropicana Corporation Berhad Annual Report 2019

42. SEGMENTAL INFORMATION (CONT’D.) Notes: Nature of adjustments and eliminations to arrive at the amounts reported in the consolidated financial statements (cont’d.) C. The following items are added to/(deducted from) segment profit to arrive at profit before tax from continuing operations presented in the consolidated statement of comprehensive income: 2019 2018 RM’000 RM’000 Share of results of joint ventures 11,258 419 Share of results of an associate 819 546 Finance costs (75,850) (66,855) D. Additions to non-current assets consist of: 2019 2018 RM’000 RM’000 Property, plant and equipment (Note 15) 49,984 102,872 Intangible assets (Note 22) – 27,236 Investment properties (Note 17) 400,934 890 Land held for property development (Note 16(a)) 118,394 217,462 Right-of-use assets (Note 35(a)) 3,565 – 572,877 348,460 43. SIGNIFICANT EVENTS The following is a summary of material disposals of properties by the Group’s subsidiaries during the financial year ended 31 December 2019: (i) On 20 January 2017, Lido Waterfront Boulevard Sdn Bhd, an indirect 65% owned subsidiary of the Group, entered into an Addendum to Reclamation Contract with China Communications Construction Company (M) Sdn Bhd to carry out reclamation, revetment, drainage and associated works on the land parcels known as Lido Waterfront Boulevard in Johor (“ LIDO Land ”) measuring 659,638 square metres of development land and 19,020 square metres of boardwalk for a total contract sum of RM552,577,897. Part of the contract sum will be paid by the way of contra of the parcels of LIDO Land measuring approximately 47,020 square metres delineated in Plot 11, Plot 12 and Plot 13. One of the LIDO land, Plot 12 measuring 15,087 square metres was set-off for total consideration of RM97,435,008 upon the fulfillment of conditions precedent on 11 December 2019. Accordingly, gain on disposal of RM86,168,173 was recognised in the profit or loss. (ii) On 17 July 2018, Tropicana Development (Sabah) Sdn Bhd, a wholly-owned subsidiary of the Group, entered into a sale and purchase agreement with World Lead Unity Sdn Bhd for disposal of 4 adjoining land developed with 4-storey commercial building known as “Blue 7” in Sabah measuring approximately 14,124 square metres for a total consideration of RM38,000,000. Accordingly, gain on disposal of RM843,540 was recognised in the profit or loss upon the fulfillment of conditions precedent on 26 July 2019. (iii) On 8 August 2018, Tropicana Development (Johor Bahru) Sdn Bhd, a wholly-owned subsidiary of the Group, entered into a sale and purchase agreement with Parkwood Palms Sdn Bhd, for disposal of a piece of freehold land with category of land use “bangunan” measuring approximately 30,699 square metres in Johor for a total consideration of RM57,000,000. Accordingly, gain on disposal of RM9,158,763 was recognised in the profit or loss upon the fulfilment of conditions precedent on 12 July 2019. For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 246 About Tropicana Our Strategic Performance Our Leadership