1988 — Page 48

NOTES ON THE ACCOUNTS

8 FIXED ASSETS

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, 1988

141,200

304,777

1,563,584

112,868 2,122,429

Additions

108.316

158,514

24,488

291,318

Disposals

(36,678)

(233) (36,911)

ཀ

At 31st December, 1988

141,200

413,093 1,685,420

137,123

2,376,836

Aggregate depreciation:

At 1st January, 1988

27,628

101,731

645,479

66,991

841,829

Charge for the year

27,852

151,008

12,035

190,895

Written back on disposal

(36,401)

(150)

(36,551)

At 31st December, 1988

27,628

129,583

760,086

78,876

996,173

Net book value at

31st December, 1988

Add: Buses under construction

113,572

283,510 925,334

58,247

1,380,663

―

at cost

152,590

Deposits paid in respect of buses on order

5,881

1,539,134

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

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:

44

Leasehold land

Net

Date of valuation

Valuation

HK$'000

book value HK$'000

15th July, 1959

3,284