FGV Annual Report 2017

FELDA GLOBAL VENTURES HOLDINGS BERHAD FINANCIAL STATEMENTS 252 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 24 PREPAID LEASE PAYMENTS The prepaid lease payments were payment for rights to use the following: Group Leasehold land 2017 RM’000 2016 RM’000 Cost At 1 January 87,070 82,410 Additions - 5,850 Currency translation differences (1,304) (838) Write offs - (352) 31 December 85,766 87,070 Accumulated amortisation and impairment At 1 January 11,360 4,200 Amortisation charge 2,964 5,122 Provision for impairment loss - 2,515 Currency translation differences (224) (125) Write offs - (352) At 31 December 14,100 11,360 Net book value at 31 December 71,666 75,710 As at 31 December 2017, the carrying amount of prepaid lease lands under land arrangements with FELDA amounted to RM26,432,000 (2016: RM43,000,000). FELDA is in the midst of applying the land titles from respective state authorities. Included within provision for impairment in previous financial year was impairment loss of RM1,760,000 relating to FGV China Oils Ltd. (Note 18(a)).