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138 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

3. INVESTMENT PROPERTIES

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Cost

At beginning of the year, as restated /as previously stated

635,382

620,033

2,349

2,349

Effects of adoption of FRS 10

-

50,500

-

-

Effects of adoption of FRS 11

-

(203,906)

-

-

At beginning of the year, as restated

635,382

466,627

2,349

2,349

Additions

115,171

181,281

-

-

Disposals

(7,996)

(6,824)

-

-

Transfer to property, plant and equipment

(see note 2)

(14,238)

(5,468)

-

-

Transfer to land held for property development

(see note 4)

-

(234)

-

-

At 31 October

728,319

635,382

2,349

2,349

Accumulated depreciation

At beginning of the year, as restated /as previously stated

11,810

7,710

147

137

Effects of adoption of FRS 10

-

342

-

-

Effects of adoption of FRS 11

-

(1,629)

-

-

At beginning of the year, as restated

11,810

6,423

147

137

Charge for the year

7,757

5,569

10

10

Disposals

-

(182)

-

-

Transfer to property, plant and equipment

(see note 2)

(1,466)

-

-

-

At 31 October

18,101

11,810

157

147

Accumulated impairment losses

At 1 November / 31 October

10,013

10,013

443

443

Net carrying amount

At 31 October

700,205

613,559

1,749

1,759

Comprising:

Investment properties under construction

148,462

180,873

-

-

Freehold land

101,275

90,312

928

928

Freehold buildings

381,425

285,455

-

-

Leasehold land

69,043

56,919

821

831

700,205

613,559

1,749

1,759

Fair value at 31 October

1,008,136

967,321

3,066

2,896

Title deeds to certain of the Group’s investment properties costing RM399,000 (2013: RM399,000) have yet to be issued in or transferred

to the name of the Company and subsidiary companies concerned.