98
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
12.
PROPERTY, PLANT AND EQUIPMENT
(CONTINUED)
Note
Furniture
and fittings
Laboratory
equipment
Office
equipment
Leasehold
improvement
Leasehold
building
Construction-
in-progress
Total
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Company
Cost:
At 1 July 2013
324
1,560
909
549
4,135
69
7,546
Additions
32
359
155
69
–
–
615
Disposals
–
(192)
(54)
–
–
–
(246)
Transfer from investment
properties
13
–
–
–
–
610
–
610
Transfer to intangible assets
14
–
–
–
–
–
(69)
(69)
Transfer of assets to
subsidiary
–
(68)
(7)
–
–
–
(75)
At 30 June 2014 and
1 July 2014
356
1,659
1,003
618
4,745
–
8,381
Additions
17
327
146
52
–
70
612
Disposals
–
–
(176)
–
–
–
(176)
Transfer from investment
properties
13
–
–
–
–
600
–
600
At 30 June 2015
373
1,986
973
670
5,345
70
9,417
Accumulated depreciation:
At 1 July 2013
25
905
502
33
28
–
1,493
Charge for the year
65
175
169
82
79
–
570
Transfer of assets to
subsidiary
–
(3)
–
–
–
–
(3)
Disposals
–
(171)
(53)
–
–
–
(224)
At 30 June 2014 and
1 July 2014
90
906
618
115
107
–
1,836
Charge for the year
73
209
200
95
82
–
659
Disposals
–
–
(176)
–
–
–
(176)
At 30 June 2015
163
1,115
642
210
189
–
2,319
Net book value:
At 30 June 2014
266
753
385
503
4,638
–
6,545
At 30 June 2015
210
871
331
460
5,156
70
7,098
In April 2015 and June 2014, the Group transferred one office unit respectively from investment properties
to property, plant and equipment. On those dates, the Group determined that these units will no longer be
held to earn rentals, and commenced the use of these units for its own operations.
The Group’s leasehold building with a carrying amount of $5,156,000 (2014: $4,638,000) are mortgaged to
secure the Group’s interest-bearing borrowings (Note 26).
As at 30 June 2015, the fair value of the leasehold building was determined to be $6,065,000 (2014: $5,120,000).
The valuation was performed by Colliers International Consultancy & Valuation (Singapore) Pte Ltd, an
independent valuer with a recognised and relevant professional qualification and with recent experience in
the location and category of the properties being valued. The valuations are based on comparable market
transactions that consider the sales of similar properties that have been transacted in the open market.
