95
ANNUAL REPORT 2015/2016
Notes to Financial Statements
20
INVESTMENT PROPERTIES
The table below analyses investment properties carried at fair value, by valuation method. The different
levels have been defined as follows:
Ŕ
-FWFM
RVPUFE QSJDFT VOBEKVTUFE JO BDUJWF NBSLFUT GPS JEFOUJDBM BTTFUT PS MJBCJMJUJFT
Ŕ
-FWFM
JOQVUT PUIFS UIBO RVPUFE QSJDFT JODMVEFE XJUIJO -FWFM
UIBU BSF PCTFSWBCMF GPS
the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Ŕ
-FWFM
JOQVUT GPS UIF BTTFU PS MJBCJMJUZ UIBU BSF OPU CBTFE PO PCTFSWBCMF NBSLFU EBUB
(unobservable inputs).
THE GROUP
Freehold land
and buildings
Leasehold
property
Total
$’000
$’000
$’000
Level 3
At 1 April 2014
188,568
14,966
203,534
Currency translation
(18,575)
–
(18,575)
Fair value loss
(7,832)
–
(7,832)
At 31 March 2015
162,161
14,966
177,127
Currency translation
(2,646)
–
(2,646)
5SBOTGFS GSPN QSPQFSUZ QMBOU BOE FRVJQNFOU /PUF
–
5,729
5,729
'BJS WBMVF MPTT HBJO /PUF
(23,410)
1,465
(21,945)
At 31 March 2016
136,105
22,160
158,265
THE GROUP
2016
2015
$’000
$’000
Rental and service income from investment properties
12,865
13,477
Direct operating expense (that generated rental income
during the year)
1,245
3,620
All investment properties are leased out under operating lease arrangements.
Fair value of leasehold investment property was based on internal valuation, consistent with the
Group’s accounting policy to obtain an external independent valuation once every three years.
&YUFSOBM WBMVBUJPO GPS UIF MFBTFIPME JOWFTUNFOU QSPQFSUZ XBT MBTU PCUBJOFE JO UIF GJOBODJBM ZFBS FOEFE
31 March 2014.
