5. COST OF SALES Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Cost of development properties: - current year 360,693 298,408 – – - overprovision of property development costs in prior years (31,517) (12,681) – – Cost of land sold (Note 16(a), Note 16(b) and Note 16(c)) 6,724 162,395 – – Cost of inventories sold 79,169 (35,293) – – Cost of building materials sold 7,700 7,084 – – Cost of services rendered: - recreation and resort operations 13,161 14,505 – – - property management and maintenance fees 7,303 7,878 – – - investment properties 11,121 11,490 – – - landscape services 2,292 2,482 – – - private school operations 22,434 24,829 – – - hotel operations 19,632 18,298 – – - management fees – – 18,721 19,159 - energy cost 12,392 12,405 – – Others 2,514 1,826 – – 513,618 513,626 18,721 19,159 6. OTHER INCOME Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Gain on a bargain purchase (Note 18(a)) 18,219 – – – Reversal of impairment loss on trade and other receivables 3,566 4,388 – – Reversal of impairment loss on property, plant and equipment (Note 15) 2,560 – – – Management fees 12,114 13,300 – – Rental income 5,093 9,533 573 712 Late payment interest 1,845 1,369 – – Gain on disposal of: - property, plant and equipment, net 843 88 – – - investment on a subsidiary – – 60 – Fair value gain on investment properties, net (Note 17) 19,960 138,128 – – Fair value gain on quoted shares 27,386 – – – Fair value gain on transferable corporate golf club memberships – 575 – 575 Forfeiture of deposits 291 1,378 – – Bad debts recovered 133 – – – Realised foreign exchange gain – 6 – – Others 181 3,372 96 163 92,191 172,137 729 1,450 7. FINANCE INCOME Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Finance income from: - deposits with licensed banks 2,224 10,259 358 907 - Housing Development Accounts 1,437 3,165 – – - amounts due from subsidiaries (Note 37(a)) – – 120,721 67,511 - others 2,888 4,356 210 – 6,549 17,780 121,289 68,418 8. FINANCE COSTS Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Finance costs on: - amounts due to subsidiaries (Note 37(a)) – – 52,305 36,152 - borrowings 174,104 137,449 97,436 49,405 - unwinding of discount on trade and other payables 1,027 389 – – - amortisation of borrowing costs (Note 32) 11,784 10,916 878 655 - accretion of interest on ICPS (Note 30) 14,090 15,118 14,090 15,118 - accretion of lease liabilities interest (Note 35(b)) 446 415 43 59 201,451 164,287 164,752 101,389 FINANCIAL STATEMENTS NOTES TO THE For the financial year ended 31 December 2021 Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 254 255
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