FGV Annual Report 2016

FELDA GLOBAL VENTURES HOLDINGS BERHAD 282 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 25 PREPAID LEASE PAYMENTS The prepaid lease payments were payment for rights to use the following: Group Leasehold land 2016 RM'000 2015 RM'000 Cost At 1 January 82,410 53,113 Acquisition of subsidiaries - 29,752 Additions 5,850 210 Currency translation differences (838) 3,448 Write offs (352) (4,113) 31 December 87,070 82,410 Accumulated amortisation and impairment At 1 January 4,200 3,152 Amortisation charge 5,122 3,581 Provision for/(reversal of) impairment loss 2,515 (76) Currency translation differences (125) 490 Write offs (352) (2,947) At 31 December 11,360 4,200 Net book value at 31 December 75,710 78,210 As at 31 December 2016, the carrying amount of prepaid lease lands under land arrangements with FELDA amounted to RM43,000,000 (2015: RM41,689,000). FELDA is in the midst of applying the land titles from respective state authorities. Included within provision for impairment during the financial year is impairment loss of RM1,760,000 relating to FGV China Oils Ltd (2015: Nil) (Note 19(a)).