NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024 14. Property, plant and equipment (cont’d) Buildings and improvements Furniture, fixtures and office equipment Total Rp million Rp million Rp million Company Cost At 1 January 2023, 31 December 2023 and 1 January 2024 74,110 629 74,739 Additions – 25 25 At 31 December 2024 74,110 654 74,764 Accumulated depreciation At 1 January 2023 52,339 297 52,636 Depreciation charge for the year 3,629 89 3,718 At 31 December 2023 and 1 January 2024 55,968 386 56,354 Depreciation charge for the year 3,628 127 3,755 At 31 December 2024 59,596 513 60,109 Net carrying amount At 31 December 2023 18,142 243 18,385 At 31 December 2024 14,514 141 14,655 Assets under construction Property, plant and equipment of the Group as at 31 December 2024 included immature bearer plants in the course of cultivation, and building and machinery in the course of construction amounting to Rp3,542.6 billion (2023: Rp3,798.7 billion). Bearer plants The Group’s bearer plants comprise mainly of oil palm, rubber and sugar cane plantations. Asset held for sale On 21 December 2017, a subsidiary, Lonsum entered into a Sale and Purchase Agreement (“SPA”) with an entity under common control, PT ICBP for the sale of a parcel of its land with an area approximately 125 hectares in the Province of Banten, Sumatra, Indonesia. In December 2022, Lonsum executed part of the SPA with total transaction value of Rp35.8 billion for 8 parcels of land, covering 12 hectares by realising part of an advance paid by PT ICBP in 2018. As of February 2025, the disposal of such parcel of land is still being processed by both parties, and therefore classified as “Asset held for sale”. Group Overview Financials Other information Sustainability and Governance Operation and Financial Review Annual Report 2024 111
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