NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
14 PROPERTY, PLANT AND EQUIPMENT (CONT’D)
(a)
Land and buildings are stated at fair value, which have been determined based on valuations at or approximate the
end of the reporting period. Valuations are performed by accredited independent valuers with recent experience
in the location and category of the properties being valued. Details of valuation techniques and inputs used are
disclosed in note 43C and 43D.
(b)
If the land and buildings stated at valuation are included in the financial statements using the cost model, the net
carrying amounts would be:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Freehold land at 31 December
– Cost
5,181
5,273
1
1
– Accumulated impairment
–
–
–
–
– Net carrying amount
5,181
5,273
1
1
Leasehold land at 31 December
– Cost
595
841
–
–
– Accumulated depreciation and impairment
(277)
(373)
–
–
– Net carrying amount
318
468
–
–
Buildings at 31 December
– Cost
7,782
8,387
11
11
– Accumulated depreciation and impairment
(2,495)
(2,680)
(11)
(10)
– Net carrying amount
5,287
5,707
–
1
(c)
In 2013, included in the additions to property, plant and equipment was an amount of $2,061,000 related to provision
for mine restoration costs.
94
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
