1995 — Page 122

b.

NOTES ON THE ACCOUNTS

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

asset shown at valuation:

Leasehold land

Date of valuation

Valuation

HK$'000

Net book value

HK$'000

15 July 1959

3,284

In preparing these accounts, advantage has been taken of the transitional provisions set out

in paragraph 72 of SSAP 17 “Property, Plant and Equipment” issued by the Hong Kong Society

of Accountants, with the effect that leasehold land has not been revalued to fair value at the

balance sheet date.

11. INTEREST IN A SUBSIDIARY

Unlisted shares at cost

1995

HK$'000

1994

HK$'000

Amount due from the subsidiary

23,859

44

Details of the subsidiary, which is incorporated in Hong Kong, are as follows:

Nominal value of ordinary issued

Percentage of ordinary

Name of Company

share capital

shares held

Principal

activity

Long Win Holdings Limited

HK$2

100%

Investment

holding

53