92
STAMFORD LAND CORPORATION LTD
Notes to Financial Statements
16
INVENTORIES
THE GROUP
2016
2015
$’000
$’000
Finished goods
376
594
Consumables
864
928
1,240
1,522
The net realisable value of inventories is determined based on the estimated selling price in the ordinary
course of business less the estimated costs of completion and sale.
17
COMPLETED PROPERTIES FOR SALE
THE GROUP
2016
2015
$’000
$’000
Beginning of financial year
47,902
75,909
Currency translation
(2,436)
(5,078)
Transfer to profit or loss upon sale
(18,253)
(22,929)
27,213
47,902
Less: Write-down to net realisable value
(3,561)
(3,953)
&OE PG GJOBODJBM ZFBS
23,652
43,949
The net realisable value of unsold completed properties for sale is determined based on expected sales
price. A write down to net realisable value was provided for the unsold residential properties in New
Zealand based on an independent professional valuation. The valuation obtained was based on the
direct sales comparison method.
