36
Fixed assets stated at valuation:
Properties completed
Properties under
Other
Total
Total
Year of valuation
1972
1973
1974
1976
1978
1979
1980
1983
1984
1985
HK$Millions
development HK$Millions
assets HK$Millions
1985
1984
HK$Millions
HK$Millions
1.9
1.9
2.0
238.0
238.0
238.0
31.1
31.1
31.1
21.4
21.4
21.4
30.7
30.7
30.7
96.2
96.2
659.1
521.6
0.9
522.5
567.3
67.9
67.9
67.9
24.9
75.9
100.8
100.8
745.0
51.2
796.2
1,778.7
127.1
0.9
1,906.7
1,718.3
The above valuations were carried out by independent qualified chartered surveyors with the exception of the valuation of HK$745.0 million which was carried out in 1985 by an executive of the Group who is a Fellow of the Royal Institution of Chartered Surveyors. All valuations were on an open market value basis.
Net book value of properties comprises:
Total
Total
Hong Kong HK$Millions
Overseas HK$Millions
1985
HK$Millions
1984 HK$Millions
Freehold
P
146.2
Long leasehold (over 50 years)
4,136.0
146.2 4,136.0
182.3 3,228.6
Medium leasehold (10-50 years)
12.4
Short leasehold (under 10 years)
1.5
12.4
1.5
13.4
4,149.9
146.2
4,296.1
3,424.3
3. Subsidiary companies
Unquoted shares, at cost
Amounts due by subsidiary companies
Company 1985 HK$Millions
Company 1984 HK$Millions
852.7
852.7
2,322.4
1,979.5
3,175.1
2,832.2
4. Associated companies
Group 1985
Group 1984
HK$Millions
HK$Millions
Unquoted shares, at cost
57.8
74.0
Quoted shares, Hong Kong, at cost
1,995.8
67.8
Share of undistributed post-acquisition reserves
174.4
41.8
Amounts due by associated companies
2,019.0
266.9
4,247.0
450.5
Amounts due to associated companies
1,001.2
4.3
3,245.8
446.2
Market value of quoted shares
3,317.1
537.2
HUTCHISON WHAMPOA LIMITED