NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 5. COST OF SALES Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Cost of development properties: - current year 297,719 360,693 – – - overprovision of property development costs in prior years (34,965) (31,517) – – Cost of land sold 41,113 6,724 – – Cost of inventories sold 66,720 79,169 – – Cost of building materials sold 10,011 7,700 – – Cost of services rendered: - recreation and resort operations 21,209 13,161 – – - property management and maintenance fees 3,421 7,303 – – - investment properties 15,987 11,121 – – - landscape services 1,518 2,292 – – - private school operations 20,088 22,434 – – - hotel operations 43,567 19,632 – – - management fees – – 16,782 18,721 - energy cost 4,167 12,392 – – Others 2,275 2,514 – – 492,830 513,618 16,782 18,721 6. OTHER INCOME Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Gain on a bargain purchase (Note 18(a)(xxiii)) – 18,219 – – Reversal of impairment loss on trade and other receivables 2,830 3,566 – – Reversal of impairment loss on property, plant and equipment (Note 15) – 2,560 – – Management fees 15,635 12,114 – – Rental income 6,220 5,093 360 573 Late payment interest 842 1,845 – – Gain on disposal of: - property, plant and equipment 12 843 – – - investment on a subsidiary – – – 60 Gain on lease termination – – 14 – Fair value gain on investment properties, net (Note 17) – 19,960 – – Fair value gain on quoted shares – 27,386 – – Forfeiture of deposits 1,172 291 – – Bad debts recovered 100 133 – – Net unrealised foreign exchange gain 685 83 – – Others 1,421 98 7 96 28,917 92,191 381 729 196 ANNUAL REPORT 2022
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