16. INVENTORIES Group 2021 2020 RM’000 RM’000 Non-current Land held for property development 7,071,745 6,517,540 Current Completed development properties 215,714 202,300 Consumable stores and spares 2,057 1,843 Property development costs 322,879 366,644 Land held for sales 25,357 20,318 566,007 591,105 Total inventories 7,637,752 7,108,645 Included in total inventories of the Group are inventories carried at the lower of cost and net realisable value amounting to RM7,885,000 (2020: RM nil). (a) Land held for property development Group 2021 2020 RM’000 RM’000 Cost At 1 January Freehold land 3,739,402 3,318,529 Leasehold land 2,778,138 2,836,404 6,517,540 6,154,933 Additions 555,570 468,317 Acquisition of a subsidiary 108,031 – Transfer to property development costs (Note 16(b)) (106,863) (9,896) Transfer to investment properties (Note 17) – (34,433) Adjustment – (13,507) Transfer to land held for sales (Note 16(c)) (2,533) (38,987) Disposals (Note 5) – (8,887) At 31 December 7,071,745 6,517,540 Finance costs capitalised during the financial year under land held for property development amounted to RM33,641,000 (2020: RM50,393,000). 16. INVENTORIES (CONT’D.) (b) Property development costs Group 2021 2020 RM’000 RM’000 Cost At 1 January 366,644 423,377 Development costs incurred 80,576 113,694 Acquisition of a subsidiary 73,521 – Transfers from/(to): Land held for property development (Note 16(a)) 106,863 9,896 Investment properties (Note 17) – (10,739) Property, plant and equipment (Note 15) – (1,693) Completed development properties (93,203) (19,703) Contract cost assets (Note 25) (207,495) (148,188) Disposals (Note 5) (4,027) – At 31 December 322,879 366,644 (c) Land held for sales Group 2021 2020 RM’000 RM’000 Cost At 1 January 20,318 131,350 Additions 5,203 3,489 Disposals (Note 5) (2,697) (153,508) Transfer from land held for property development (Note 16(a)) 2,533 38,987 At 31 December 25,357 20,318 Certain inventories with carrying amount of RM5,863,966,000 (2020: RM3,555,249,000) are pledged as securities for bank borrowings as disclosed in Note 32. FINANCIAL STATEMENTS NOTES TO THE For the financial year ended 31 December 2021 Annual Report 2021 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 268 269
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