CMB_1997_Copy2 — Page 28

Notes on The Accounts (Continued)

8.

FIXED ASSETS

Plant,

Leasehold

Motor

fixtures and

land

Buildings

buses

equipment

Total

$000's

$000's

$000's

$000's

$000's

Group and Company

Cost or valuation:

At 1st July, 1996

33,606

Additions

42,919 2,528

592,041

37,262

705,828

78,204

998

81,730

Transfer (out)/in

-

(415)

415

Disposals

(14,054)

(938)

(14,992)

At 30th June, 1997

33,606

45,447

655,776

37,737

772,566

Aggregate depreciation:

At 1st July, 1996

Transfer (out)/in

Charge for the

year

Written back on disposal

At 30th June, 1997

Net book value:

5,787

382,731

32,813

421,331

(401)

401

499

33,067

1,195

34,761

(13,594)

(930)

(14,524)

6,286

401,803

33,479

441,568

At 30th June, 1997

33,606

39,161

253,973

4,258

330,998

Add: Buses under construction & in transit at cost

18,776

349,774

Net book value:

At 30th June, 1996

33,606

37,132

209,310

4,449

284,497

Add: Buses under construction & in transit at cost

46,381

330,878

Leasehold land at 30th June, 1997 is held in Hong Kong under long and medium leases and comprises the following:-

Group and Company

At 1962 valuation

At cost

24

Long leases

Medium lease

1997

1996

1997

1996

$000's

$000's

$000's

$000's

1,300

1,300

27,467 32,306

4,839

28,767

33,606

4,839