1989 — Page 45

NOTES ON THE ACCOUNTS

9 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, 1989

141,200

Additions

Disposals

5,786 (2,874)-

413,093

144,423 220,550

(3,596) (27,487)

1,685,420

137,123 2,376,836 40,755 411,514

(305) (34,262)

At 31st December. 1989

144,112

553,920

1,878,483

177,573 2,754,088

Aggregate depreciation:

At 1st January, 1989

27,628

129,583

760,086

78,876

996,173

Charge for the year

32,279

168,122

26,787

227,188

Written back on disposal

(736)

(1,840)

(27,208)

(143) (29,927)

At 31st December, 1989

26,892

160,022

901,000

105,520

1,193,434

Net book value at

31st December, 1989

Add: Buses under construction

117,220

393,898

977,483

72,053 1,560,654

-

at cost

94,343

Deposits paid in respect of buses on order

1.225

1,656,222

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

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:

41

Leasehold land

Date of valuation

Valuation

HK$'000

Net book value HK$'000

15th July, 1959

3,284

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