1984 — Page 16

Notes on the Accounts cont'd

Leasehold land is held in Hong Kong and comprises the following:-

Company

Group

1984

1983

1984

1983

Long lease-over 50 years Medium term lease-10-50 years

24,341

24,359

24,341

24,359

361

6

1,039

684

24,702

24,365

25,380

25,043

10

Assets under Construction, at Cost

Company

Group

Vessels under construction

At 1st January 1984

49,676

49,676

Exchange difference previously capitalised

(784)

(784)

Additions

21,115

21,115

Transfer to fixed assets

(31,134)

(31,134)

At 31st December 1984

Property under development

At 1st January 1984

38,873

38,873

39,488

39,488

Additions

14,398

14,398

Transfer to fixed assets

(51,986)

(51,986)

At 31st December 1984

1,900

1,900

40,773

40,773

11. Interest in Subsidiary Companies

Unquoted shares, at cost

Amount due to subsidiaries

Details of the subsidiary companies are as follows:-

Company

1984

1983

81,408

73,408

(12,979)

(8,829)

68,429

64,579

Place of Incorporation

Description of shares held

Percentage held directly

HYFCO Development Company, Limited

Hong Kong

Ordinary

100

The Hong Kong Shipyard Limited

Hong Kong

Ordinary

100

HYFCO Trading Services Company Limited

Hong Kong

Ordinary

100

HYFCO Ferries, Limited

Hong Kong

Ordinary

100

Crestbridge Estates Limited

Hong Kong

Ordinary

100

HYFCO Travel Agency Limited

Hong Kong

Ordinary

100

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