Hong Kong Ferry (Holdings) Co. Ltd.
Notes on the Accounts
11. FIXED ASSETS
Company
Property, plant and equipment
Leasehold
Ferry vessels
land and
and other
buildings
crafts
HK$'000
HK$'000
Machinery,
furniture
and other
fixed assets
HK$'000
A
Total
HK$'000
Cost:
At 1 January 1999
221,721
656,764
198,491
1,076,976
Additions
30
30
Disposals
(71,787)
(71,787)
Transfer to subsidiaries
(1,742)
(219)
(1,961)
At 31 December 1999
221,721
583,265
198,272
1,003,258
Aggregate depreciation:
At 1 January 1999
23,612
548,278
40,742
612,632
Charge for the year
4,664
14,584
10,073
29,321
Written back on disposal
(71,785)
(71,785)
Transfer to subsidiaries
(1,742)
(40)
(1,782)
At 31 December 1999
28,276
489,335
50,775
568,386
Net book value:
At 31 December 1999
193,445
93,930
147,497
434,872
At 31 December 1998
198,109
108,486
157,749
464,344
(a) Investment properties held by the Group have been revalued by DTZ Debenham Tie Leung Limited at HK$188 million as at 31 December 1999 on an open market value basis, having regard to net rental income and reversionary income potential.