CAHYA MATA SARAWAK ANNUAL REPORT 2016

139 Cahya Mata Sarawak Berhad A N N U A L R E P O R T 2 0 1 6 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 15. LAND HELD FOR PROPERTY DEVELOPMENT AND PROPERTY DEVELOPMENT COSTS (CONT'D.) (b) Property development costs (cont'd.) Leasehold land Development expenditure Total Group RM’000 RM’000 RM’000 Cumulative costs recognised in profit or loss: At 1 January 2015 (2,980) (546,529) (549,509) Recognised during the year (1,082) (36,197) (37,279) Reversal of completed projects 521 371 892 At 31 December 2015 and 1 January 2016 (3,541) (582,355) (585,896) Recognised during the year (228) (20,753) (20,981) At 31 December 2016 (3,769) (603,108) (606,877) Property development costs: At 31 December 2015 86,414 179,558 265,972 At 31 December 2016 82,906 271,842 354,748 Included in property development costs were finance costs capitalised during the year amounting to RM6,189,000 (2015: RM4,174,000) (Note 7). 16. INVESTMENT PROPERTIES Long term leasehold land Buildings Total Group RM’000 RM’000 RM’000 Cost: At 31 December 2015 and 31 December 2016 3,177 2,918 6,095 Accumulated depreciation: At 1 January 2015 153 316 469 Depreciation charge for the year (Note 8) 39 79 118 At 31 December 2015 and 1 January 2016 192 395 587 Depreciation charge for the year (Note 8) 39 79 118 At 31 December 2016 231 474 705 Net carrying amount: At 31 December 2015 2,985 2,523 5,508 At 31 December 2016 2,946 2,444 5,390