NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
90
THE STRAITS TRADING COMPANY LIMITED
15.
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 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
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Freehold land at 31 December
– Cost, representing net carrying amount
4,507
5,181
1
1
Leasehold land at 31 December
– Cost
518
595
–
–
– Accumulated depreciation and impairment
(252)
(277)
–
–
– Net carrying amount
266
318
–
–
Buildings at 31 December
– Cost
6,773
7,782
11
11
– Accumulated depreciation and impairment
(2,390)
(2,495)
(11)
(11)
– Net carrying amount
4,383
5,287
–
–
