104
STAMFORD LAND CORPORATION LTD
Notes to Financial Statements
22
PROPERTY, PLANT AND EQUIPMENT (CONT’D)
THE GROUP
Freehold
land
Freehold
buildings
Leasehold
land and
buildings
Renovation,
furniture
and fittings
Motor
vehicles
Equipment
and
computers
Capital
work-in-
progress Total
$’000 $’000
$’000
$’000 $’000
$’000 $’000 $’000
2015
Cost:
Beginning of year
73,634 309,776 114,024
70,801 1,009
113,895
137 683,276
Currency translation (6,699) (28,275)
(10,933)
(6,469)
(97)
(11,302)
(14) (63,789)
Additions
–
81
–
4,023
–
2,282
1,091
7,477
Disposals
–
–
–
(1,716)
(327)
(18,631)
– (20,674)
Transfer to
development
properties
(4,582) (45,317)
–
–
–
–
– (49,899)
&OE PG ZFBS
62,353 236,265 103,091
66,639 585
86,244 1,214 556,391
Accumulated
depreciation:
Beginning of year
– 65,601
21,347
59,067
737
71,094
– 217,846
Currency translation
– (5,969)
(2,115)
(5,595)
(74)
(7,325)
– (21,078)
Depreciation charge
– 3,335
1,539
4,203
20
5,317
– 14,414
Disposals
–
–
–
(1,246)
(149)
(15,966)
– (17,361)
Transfer to
development
properties
– (8,621)
–
–
–
–
– (8,621)
&OE PG ZFBS
– 54,346 20,771
56,429 534
53,120
– 185,200
Net book value:
&OE PG ZFBS
62,353 181,919 82,320
10,210
51
33,124 1,214 371,191
In 2015, the Group transferred freehold land and building with a net book value of $41,278,000 to
development properties for sale due to change in use (Note 18).
In 2016, the Group transferred a portion of a leasehold building with a net book value of $5,729,000
to investment properties due to change in use (Note 20). The fair value relating to the change in use
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The freehold and leasehold land and buildings with carrying value totalling approximately $315,163,000
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long-term borrowings (Note 25).
