1987 — Page 44

9 FIXED ASSETS

NOTES ON THE ACCOUNTS

Buses and

Leasehold

other motor

land Buildings

vehicles

HK$'000

HK$'000

HK$'000

Others HK$'000

Total HK$'000

a Cost or valuation:

At 1st January, 1987

141.215

197,628

1,289,878

99,026 1,727,747

Additions

110,492

302,442

14,318 427.252

Disposals

(15)

(3,343)

(28,736)

(476) (32,570)

At 31st December, 1987

141,200

304,777

1,563,584

112,868 2,122,429

Aggregate depreciation:

At 1st January, 1987

27,640

91.412

537,448

57,406

713,906

Charge for the year

13,650

136,151

9,759

159,560

Written back on disposal

(12)

(3,331)

(28,120)

(174)

(31,637)

At 31st December, 1987

27,628

101,731

645,479

66,991

841,829

Net book value at

31st December, 1987

Add: Buses under construction

113.572

203,046

918,105

45,877

1,280,600

―

at cost

237,648

Deposits paid in respect of buses on order

301

1,518,549

Net book value at

31st December, 1986

Add: Buses under construction

113,575

106,216

752,430

41,620

1,013,841

at cost

171,977

Deposits paid in respect of buses on order

3,501

1,189,319

b All the Company's leasehold land is held in Hong Kong on long leases.

c Valuation

Included in the cost or valuation figure shown in the fixed assets summary is the following asset shown at valuation:

Leasehold land

Date of valuation

Valuation HK$'000

Net

book value HK$'000

15th July, 1959

3,284

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