1991 — Page 47

NOTES ON THE ACCOUNTS

8. FIXED ASSETS (Cont'd)

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

c. Valuation

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

at valuation :

Date of valuation

Valuation

HK$'000

Net

book value

HK$'000

Leasehold land

15th July, 1959

3,284

9. CURRENT ASSETS

1991

HK$'000

1990

HK$'000

Spare parts and stores (Note 1b)

172,079

164,495

Accounts receivable

21,407

28,690

Deposits and prepayments

22,065

17,316

Deposits with restricted licence bank

183,850

81,350

Cash at bank and in hand

46,615

27,566

446,016

319,417

10. CURRENT LIABILITIES

1991

HK$'000

1990

HK$'000

Accounts payable

318,108

275,780

Taxation (Note 5b)

17,942

13,311

Bank loans and overdrafts (Note 17a)

91,835

106,362

Other borrowings (Note 17b)

64,269

75,769

Insurance claims payable

83,650

76,281

Dividend payable (Note 6)

173,565

157,419

749,369

704,922

43