FGV Audited Financial Statements 2020

32 LOANS DUE FROM JOINT VENTURES (continued) (a) Reconciliation of loss allowance Loans due from joint ventures using general 3 stage approach The loss allowance for loans due from joint ventures as at 31 December 2020 reconciles to the opening loss allowance balance as follows: Performing RM’000 Under- performing RM’000 Non- performing RM’000 Total RM’000 Group At 1 January 2019 - 2,300 - 2,300 Transfer to non-performing - (2,300) 2,300 - Increase in loss allowance - - 44,871 44,871 At 31 December 2019 - - 47,171 47,171 At 31 December 2020 - - 47,171 47,171 33 INVENTORIES Group 2020 RM’000 2019 RM’000 - Finished goods 710,907 743,543 - Raw materials 354,700 396,408 - Work in progress 31,859 29,830 - Chemicals 31,914 51,826 - Stores, consumables and replaceable products 63,236 91,430 1,192,616 1,313,037 34 BIOLOGICAL ASSETS Oil Palm 2020 RM’000 2019 RM’000 Group At 1 January 45,766 42,446 Transfer to inventory (45,766) (42,446) Fair value changes 57,012 45,764 Foreign exchange movement (11) 2 At 31 December 57,001 45,766 153 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 Audited Financial Statements 2020