NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
118
THE STRAITS TRADING COMPANY LIMITED
26.
DEVELOPMENT PROPERTIES FOR SALE
Group
2015
2014
$’000
$’000
Completed units, at cost
70
237
Cost of development properties sold during the year amounted to $36,000 (2014: $82,000). This is included in other
expenses in profit or loss.
Details of the properties as at 31 December 2015 are as follows:
Description of properties
Group’s
Effective
Interest in
Property
Floor Area
sq.m.
1 unit of 4-storey (2014: 5 units of 4-storey) shop houses at Jalan Selat,
Taman Selat, Butterworth
100%
596
(net)
27.
INVENTORIES
Group
2015
2014
$’000
$’000
Balance sheet:
At lower of cost or net realisable value:
Inventories of:
– Tin-in-concentrates
18,992
23,306
– Tin-in-process
50,238
50,304
– Refined tin metal
13,361
17,008
Other inventories (stores, spares, fuels, coal and saleable by-products)
6,229
5,467
88,820
96,085
Income statement:
Inventories recognised as an expense in cost of sales
481,112
686,533
Inclusive of the following charge:
Inventories written-down
4,698
1,211
