FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 265 01 02 05 03 07 06 04 08 09 ANNUAL INTEGRATED REPORT 2018 EXAMINED OUR NUMBERS 25 PREPAID LEASE PAYMENTS The prepaid lease payments were payment for rights to use the following: Leasehold land Group 2018 RM’000 2017 RM’000 At 1 January 85,766 87,070 Currency translation differences (1,098) (1,304) 31 December 84,668 85,766 Accumulated amortisation At 1 January 14,100 11,360 Amortisation charge 3,700 2,964 Currency translation differences (221) (224) At 31 December 17,579 14,100 Net book value at 31 December 67,089 71,666 Net book value at 1 January 2017 75,710 As at 31 December 2018, the carrying amount of prepaid lease lands under land arrangements with FELDA amounted to RM24,033,000 (2017: RM26,432,000). FELDA is in the midst of applying the land titles from respective state authorities.