Page 142 - S P Setia Annual Report 2013
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140 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013





NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2013 (CONT’D)






14. DeFeRReD taX aSSetS (cOnt’D)

Temporary differences unabsorbed capital allowances and unutilised tax losses exist as at 31 October of which deferred tax benefts have
not been recognised in the fnancial statements, as follows:

Group company
2013 2012 2013 2012
Rm’000 Rm’000 Rm’000 Rm’000

Unutilised tax losses 68,893 111,486 - -
Unabsorbed capital allowances 1,530 4,422 - -
Excess of capital allowances claimed over accumulated
depreciation on property, plant and equipment (99) (1,352) - -
Others 220 21,977 - -
70,544 136,533 - -



15. PROPeRtY DeVelOPment cOStS
Group
2013 2012
Rm’000 Rm’000

Freehold land at cost 1,010,969 633,340
Leasehold land at cost 98,053 13,442
Development and construction costs 4,797,063 3,883,906
Costs recognised as an expense in previous years (4,299,431) (3,655,268)

at 1 november 1,606,654 875,420
Costs transferred to property, plant and equipment (see note 2)
- freehold land (3,284) -
- development costs (7,455) -
Costs transferred to investment properties (see note 3)
- freehold land (1,827) (178,762)
Costs transferred from land held for property development (see note 4)
- freehold land 340,443 465,124
- leasehold land 505,684 80,747
- development costs 168,577 305,450
Costs transferred from concession assets (see note 5)
- freehold land 7,281 -
Costs incurred during the fnancial year
- freehold land 15,203 65,695
- leasehold land 137,427 3,814
- development and construction costs 1,739,590 1,431,823
Acquisition of additional equity interest in subsidiary companies
- freehold land 24,154 -
- development costs 79,927 -
- costs incurred during the fnancial year (76,576) -
Exchange differences (687) (975)
2,928,457 2,172,916

Costs recognised as an expense in the current year (1,822,612) (1,441,388)
Unsold completed properties transferred to inventories (19,382) (294)

at 31 October 2,693,117 1,606,654
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