Tropicana Corporation Berhad Annual Report 2020

34. CONTRACT LIABILITIES (CONT'D.) (a) Deferred license fees Group 2020 2019 RM'000 RM'000 Cost At 1 January 216,719 214,286 Additions 4,234 2,433 At 31 December 220,953 216,719 Accumulated amortisation At 1 January 76,729 72,263 Amortisation during the financial year (Note 9) 4,586 4,466 At 31 December 81,315 76,729 Carrying amount 139,638 139,990 Represented by: Current 4,586 4,466 Non-current 135,052 135,524 139,638 139,990 The deferred license fees refer to accrual and amortisation of license fees over 40 years which will expire on 9 October 2051. (b) Deferred income The deferred income of the Group is in respect of advance tuition fees received by the private school operator. It will be recognised as revenue upon services performed. (c) Contract liabilities from property development Group 2020 2019 RM'000 RM'000 At 1 January 153,279 – Acquisition of subsidiaries – 244,737 Revenue recognised during the financial year (346,983) (200,280) Progress billings issued during the financial year 214,581 108,822 Non-refundable deposit received in relation to land sale 6,250 – At 31 December 27,127 153,279 Revenue from property development activities are recognised over time using the input method, which is based on the actual incurred to date on the property development project as compared to the total budgeted cost for the respective development projects. 35. LEASES (a) Right-of-use assets Leasehold Motor Plant and Office land Premises vehicles machineries equipment Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Group Cost At 1 January 2020 175,457 11,165 924 – – 187,546 Additions – 1,152 2,658 2,154 – 5,964 Transfer from property, plant and equipment (Note 15) – – 1,409 – 474 1,883 Write off – (5,538) (396) – – (5,934) At 31 December 2020 175,457 6,779 4,595 2,154 474 189,459 Accumulated depreciation At 1 January 2020 43,387 4,651 556 – – 48,594 Depreciation (Note 9) 2,026 3,359 698 118 95 6,296 Transfer from property, plant and equipment (Note 15) – – 1,056 – 162 1,218 Write off – (5,538) (396) – – (5,934) At 31 December 2020 45,413 2,472 1,914 118 257 50,174 Carrying amount 130,044 4,307 2,681 2,036 217 139,285 Cost At 1 January 2019 175,457 7,600 924 – – 183,981 Additions – 3,565 – – – 3,565 At 31 December 2019 175,457 11,165 924 – – 187,546 Accumulated depreciation At 1 January 2019 38,988 – – – – 38,988 Depreciation (Note 9) 4,399 4,651 556 – – 9,606 At 31 December 2019 43,387 4,651 556 – – 48,594 Carrying amount 132,070 6,514 368 – – 138,952 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 270 271