16. INVENTORIES (CONT’D.) (c) Land held for sales (cont’d.) Group 2022 2021 RM’000 RM’000 Lower of cost and net realisable value At 1 January – – Transfer from land held for property development (Note 16(a)) 1,057,602 – Inventories written down (370,066) – At 31 December 687,536 – 743,574 25,357 Certain inventories with carrying amount of RM6,065,979,000 (2021: RM5,863,966,000) are pledged as securities for bank borrowings as disclosed in Note 32. 17. INVESTMENT PROPERTIES Freehold Leasehold Construction land and land and in-progress buildings buildings (“CIP”) Total RM’000 RM’000 RM’000 RM’000 Group At 1 January 2022 124,318 1,286,880 94,460 1,505,658 Additions 59 2,411 2,656 5,126 Fair value adjustment: - gain/(loss) (Note 9) 10,751 (14,261) – (3,510) Transfer to property, plant and equipment (Note 15) – (26,306) – (26,306) Transfer to right-of-use assets (Note 35(a)) – (23,000) – (23,000) At 31 December 2022 135,128 1,225,724 97,116 1,457,968 At 1 January 2021 255,460 1,243,288 115,733 1,614,481 Additions 1,559 17,848 4,316 23,723 Fair value adjustment: - (loss)/gain (Note 6) (2,201) 22,161 – 19,960 Reclassification – 25,589 (25,589) – Transfer to asset classified as held for sale (Note 27) (17,500) – – (17,500) Adjustment 1 – (22,006) – (22,006) Disposal (113,000) – – (113,000) At 31 December 2021 124,318 1,286,880 94,460 1,505,658 1 In the previous financial year, the Group has finalised certain costs incurred for its leasehold land and buildings and arising therefrom RM22,006,000 was adjusted against other payables. In the previous financial year, finance costs capitalised under investment properties under construction amounted to RM55,000. 211 FINANCIAL STATEMENTS & OTHER INFORMATION
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