WASCO BERHAD 200 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 4 LEASES (CONTINUED) (a) Right-of-use assets (continued) Group Note Land and buildings RM’000 Plant and machineries RM’000 Motor vehicles RM’000 Total RM’000 2023 Cost At 1 January 374,055 2,704 2,129 378,888 Additions 7,863 4,860 787 13,510 Transfer to property, plant and equipment 3 (12,864) (982) - (13,846) Transfer to assets of disposal group classified as held for sale 21 (4,983) - - (4,983) Derecognition (3,702) - - (3,702) Effect of exchange rate changes 5,832 261 110 6,203 At 31 December 366,201 6,843 3,026 376,070 Accumulated depreciation At 1 January 76,388 701 1,896 78,985 Depreciation charge for the financial year 25,219 1,158 206 26,583 Transfer to property, plant and equipment 3 (50) (16) - (66) Transfer to assets of disposal group classified as held for sale 21 (4,111) - - (4,111) Derecognition (3,464) - - (3,464) Effect of exchange rate changes 1,161 93 55 1,309 At 31 December 95,143 1,936 2,157 99,236 Carrying amount at 31 December 271,058 4,907 869 276,834 Recognition and measurement The Group leases various offices, yards and motor vehicles. Rental contracts are typically made for fixed periods of 2 to 13 years (2023: 2 to 14 years), but may have extension options. Right-of-use assets are measured at cost, comprising the following: • the amount of the initial measurement of lease liability, • any lease payments made at or before the commencement date, less any lease incentives received, • any initial direct costs, and • restoration costs.
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