22 INTANGIBLE ASSETS Group Goodwill RM’000 Brand RM’000 Software RM’000 Concession assets RM’000 Others RM’000 Intangible assets under development RM’000 Total RM’000 Net book value 2024 At 1 January 2024 803,035 62,037 12,371 – 1,131 11,019 889,593 Additions – – 3,185 1,285 – 12,264 16,734 Reclassification – – 13,590 – – (13,590) – Amortisation charge – (4,493) (5,637) (5,119) (944) – (16,193) Impairment loss – – – (4,780) – – (4,780) Transfer from property, plant and equipment (Note 19) – – – 43,184 – – 43,184 Exchange differences – – – – (7) – (7) At 31 December 2024 803,035 57,544 23,509 34,570 180 9,693 928,531 Expected remaining useful lives (years) – 31 December 2024 6 – 13 1 – 5 8 2 The transfer of assets from property, plant and equipment of RM43,184,000 relates to the Group’s revenue generation from the sale of electricity under the Service Concession Agreement (“SCA”) with Tenaga Nasional Berhad (“TNB”) via the Renewable Energy Power Purchase Agreement (“REPPA”). Under the service concession agreement, TNB pays the Group based on the total electricity generated at the agreed rate. The concession period encompasses most of the assets’ useful life. The REPPA held by the Group is recognised as a single asset in accordance with MFRS 138, “Intangible Assets”, in view that they are required for the generation, operation and maintenance, sale of electricity energy and generating capacity of the plant. Group Goodwill RM’000 Brand RM’000 Software RM’000 Land use rights RM’000 Others RM’000 Intangible assets under development RM’000 Total RM’000 Net book value 2023 At 1 January 2023 809,072 66,687 13,291 43,412 719 6,802 939,983 Additions – – 2,732 – 651 6,966 10,349 Reclassification – – 2,749 – – (2,749) – Amortisation charge – (4,650) (6,401) (1,229) (269) – (12,549) Impairment loss (6,037) – – (38,646) – – (44,683) Disposal of subsidiaries (Note 23(c)) – – – (5,387) – – (5,387) Exchange differences – – – 1,850 30 – 1,880 At 31 December 2023 803,035 62,037 12,371 – 1,131 11,019 889,593 Expected remaining useful lives (years) – 31 December 2023 7 – 14 1 – 5 – 3 FGV Holdings Berhad | Audited Financial Statements 2024 Notes to the Financial Statements For the financial year ended 31 December 2024 104
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