Leases (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
Leases [Abstract] |
|
Schedule of Amounts Recognized in the Consolidated Statements of Financial Position |
Amounts recognized in the consolidated statements of financial position:
| |
As of December 31, 2023 | | |
As of December 31, 2024 | |
| |
MYR | | |
MYR | | |
USD | |
Right-of-use assets | |
| | | |
| | | |
| | |
- Non-current | |
| 2,141,293 | | |
| 2,277,208 | | |
| 509,498 | |
| |
| | | |
| | | |
| | |
Lease liabilities | |
| | | |
| | | |
| | |
- Non-current | |
| 1,757,179 | | |
| 2,095,605 | | |
| 468,868 | |
- Current | |
| 459,849 | | |
| 397,705 | | |
| 88,982 | |
| |
| 2,217,028 | | |
| 2,493,310 | | |
| 557,850 | |
|
Schedule of Net Book Value of Right-of-use Assets |
The analysis of the net book value of right-of-use assets by class
of underlying assets are as follows:
| |
Property | | |
Farm | | |
Total | |
| |
MYR | | |
MYR | | |
MYR | |
| |
(note (i)) | | |
(note (ii)) | | |
| |
Cost | |
| | | |
| | | |
| | |
As of January 1, 2023 | |
| – | | |
| 136,880 | | |
| 136,880 | |
Additions | |
| 2,352,677 | | |
| – | | |
| 2,352,677 | |
Derecognition | |
| – | | |
| (136,880 | ) | |
| (136,880 | ) |
As of December 31, 2023 and January 1, 2024 | |
| 2,352,677 | | |
| – | | |
| 2,352,677 | |
Additions | |
| 616,029 | | |
| – | | |
| 616,029 | |
As of December 31, 2024 | |
| 2,968,706 | | |
| – | | |
| 2,968,706 | |
As of December 31, 2024 (USD) | |
| 664,213 | | |
| – | | |
| 664,213 | |
| |
| | | |
| | | |
| | |
Accumulated depreciation | |
| | | |
| | | |
| | |
As of January 1, 2023 | |
| – | | |
| 111,992 | | |
| 111,992 | |
Charge for the year | |
| 211,384 | | |
| 24,888 | | |
| 236,272 | |
Derecognition | |
| – | | |
| (136,880 | ) | |
| (136,880 | ) |
As of December 31, 2023 and January 1, 2024 | |
| 211,384 | | |
| – | | |
| 211,384 | |
Charge for the year | |
| 480,114 | | |
| – | | |
| 480,114 | |
As of December 31, 2024 | |
| 691,498 | | |
| – | | |
| 691,498 | |
As of December 31, 2024 (USD) | |
| 154,715 | | |
| – | | |
| 154,715 | |
| |
| | | |
| | | |
| | |
Net book value | |
| | | |
| | | |
| | |
As of January 1, 2023 | |
| – | | |
| 24,888 | | |
| 24,888 | |
As of December 31, 2023 and January 1, 2024 | |
| 2,141,293 | | |
| – | | |
| 2,141,293 | |
As of December 31, 2024 | |
| 2,277,208 | | |
| – | | |
| 2,277,208 | |
As of December 31, 2024 (USD) | |
| 509,498 | | |
| – | | |
| 509,498 | |
(i) | Property - right-of-use assets |
The Group leases three properties (2023:
two) to place CEA vertical farms and office with two of the leases with lease term of three years and a lease with a lease term of two
years (2023: three years). For all three leases, the Company has the option to renew the lease for another three years.
(ii) | Farm - right-of-use assets |
In 2021, the Group sold a CEA vertical
farm to a customer and later leased back the farm from the customer with a lease term of 2 years. The transactions are accounted as a
sale-and-leaseback transaction under IFRS 16. There is no option to renew and the lease ended in April 30, 2023.
|
Schedule of Leases Recognized in Profit or Loss |
The analysis of expense items in relation to leases recognized in profit
or loss is as follows:
|
|
For the year ended December 31, | |
|
|
2023 | | |
2024 | |
|
|
MYR | | |
MYR | | |
USD | |
Depreciation charge on property right-of-use assets |
|
| 211,384 | | |
| 480,114 | | |
| 107,420 | |
Depreciation charge on farm right-of-use assets |
|
| 24,888 | | |
| – | | |
| – | |
|
|
| 236,272 | | |
| 480,114 | | |
| 107,420 | |
Interest on lease liabilities (note 21) |
|
| 124,157 | | |
| 253,389 | | |
| 56,693 | |
|
Schedule of Remaining Contractual Maturities of the Group’s Lease Liabilities |
The following tables show the remaining contractual
maturities of the Group’s lease liabilities at the end of the reporting periods:
| |
As of December 31, 2023 | |
| |
Present value of the minimum lease payment | | |
Total minimum lease payments | |
| |
MYR | | |
MYR | |
Within 1 year | |
| 459,849 | | |
| 485,136 | |
More than 1 year but within 2 years | |
| 416,261 | | |
| 485,136 | |
More than 2 years but within 5 years | |
| 1,186,110 | | |
| 1,686,256 | |
More than 5 years | |
| 154,808 | | |
| 261,768 | |
| |
| 2,217,028 | | |
| 2,918,296 | |
Less: total future interest expenses | |
| | | |
| (701,268 | ) |
Present value of lease liabilities | |
| | | |
| 2,217,028 | |
| |
As of December 31, 2024 | |
| |
Present value of the minimum lease payments | | |
Present value of the minimum lease payments | | |
Total minimum lease payments | | |
Total minimum lease payments | |
| |
MYR | | |
USD | | |
MYR | | |
USD | |
Within 1 year | |
| 397,705 | | |
| 88,982 | | |
| 629,136 | | |
| 140,762 | |
More than 1 year but within 2 years | |
| 501,018 | | |
| 112,097 | | |
| 689,248 | | |
| 154,211 | |
More than 2 years but within 5 years | |
| 1,594,587 | | |
| 356,771 | | |
| 1,805,975 | | |
| 404,067 | |
| |
| 2,493,310 | | |
| 557,850 | | |
| 3,124,359 | | |
| 699,040 | |
Less: total future interest expenses | |
| | | |
| | | |
| (631,049 | ) | |
| (141,190 | ) |
Present value of lease liabilities | |
| | | |
| | | |
| 2,493,310 | | |
| 557,850 | |
|