1995 — Page 133

NOTES ON THE SCHEME OF CONTROL STATEMENT

5.

The Permitted Return

Buses &

Leasehold

other motor

land Buildings HK$'m

vehicles

Others

Total

HK$'m

HK$'m

HK$'m

HK$'m

Cost or valuation:

At 1 January 1995

132.9

621.1

Additions

27.0

Disposals

-

At 31 December 1995

132.9

648.1

3,080.4

269.9

4,104.3

474.3

23.8

525.1

(56.0)

(2.7)

(58.7)

3,498.7

291.0

4,570.7

Aggregate amortisation

and depreciation:

At 1 January 1995

20.4

200.9

1,480.6

213.5

1,915.4

Charge for the year

2.1

23.5

203.3

23.6

252.5

Written back on disposals

(56.0)

(2.5)

(58.5)

At 31 December 1995

22.5

224.4

1,627.9

234.6

2,109.4

Net book value

At 31 December 1995

110.4

423.7

1,870.8

56.4

2,461.3

Add:

Amortisation on land

22.5

Buses under construction

310.0

22.5

310.0

Less:

Items not ranking for

Control Scheme purpose

Adjusted net book value of

fixed assets for Control

Scheme purpose

132.9

Add:

(0.4)

(0.4)

423.7

2,180.4

56.4

2,793.4

Other assets ranking as fixed assets under Control Scheme:

Deposits paid in respect of buses on order

5.6

Spare parts and stores

269.7

Insurance deposits with the Government

2.0

Net fixed assets for Control Scheme purpose at 31 December 1995

3,070.7

Net fixed assets for Control Scheme purpose at 31 December 1994

2,732.0

Average net fixed assets for Control Scheme purpose

for the year ended 31 December 1995

2,901.4

Permitted Return for 1995 at 16% on average net fixed assets

for Control Scheme purpose

Less: Concessions for senior citizens (Note)

464.2

(12.0)

Permitted Return for the year ended 31 December 1995

(net of concessions for senior citizens)

452.2

Note:

As a result of the implementation of concessionary fares to senior citizens in 1993, a sum of HK$12 million has been deducted from the Permitted Return for the year.

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