FORGING AHEAD - Tradewinds Plantation Berhad
FORGING AHEAD - Tradewinds Plantation Berhad
FORGING AHEAD - Tradewinds Plantation Berhad
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156<br />
FINANCIAL STATEMENTS<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
31 DECEMBER 2010<br />
7. PROPERTY, PLANT AND EQUIPMENT (continued)<br />
Net carrying amount<br />
TRADEWINDS PLANTATION BERHAD<br />
Annual Report 2010<br />
Group Company<br />
2010 2009 2010 2009<br />
(Restated)<br />
RM’000 RM’000 RM’000 RM’000<br />
Freehold land 52,232 52,232 - -<br />
Long term leasehold land 1,114,243 1,127,554 - -<br />
<strong>Plantation</strong> development expenditure 1,100,746 1,011,636 - -<br />
Buildings 131,304 128,606 - -<br />
Plant and machinery 79,386 75,562 - -<br />
Motor vehicles 16,674 16,112 1,373 1,638<br />
Office equipment 4,437 4,613 1,534 1,203<br />
Furniture and fittings 4,904 4,613 1,051 863<br />
Access road 72,419 53,248 - -<br />
Capital work-in-progress 28,209 23,288 - -<br />
2,604,554 2,497,464 3,958 3,704<br />
(a) During the financial year, the Group reassessed its long term leases of land in accordance with the Amendment to<br />
FRS 117 Leases to be finance leases. The classification of prepaid lease payments for land as property, plant and<br />
equipment has been accounted for retrospectively.<br />
(b) The net carrying amounts of property, plant and equipment of the Group charged to financial institutions for credit<br />
facilities granted to the Group and the Company (as disclosed in Notes 22, 23 and 25 to the financial statements) are<br />
as follows:<br />
Group<br />
2010 2009<br />
(Restated)<br />
RM’000 RM’000<br />
Freehold land 20,352 20,352<br />
Long term leasehold land 638,493 646,482<br />
<strong>Plantation</strong> development expenditure 817,820 758,046<br />
Buildings 33,900 36,876<br />
Plant and machinery 44,637 45,289<br />
1,555,202 1,507,045