Cordlife Group Limited
Annual Report 2016
85
Notes to
The Financial Statements
for the financial year ended 30 June 2016
12. Property, plant and equipment (cont’d)
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 2014
Additions
Disposals
Transfer from
investment properties
13
356
17
–
–
1,659
327
–
–
1,003
146
(176)
–
618
52
–
–
4,745
–
–
600
–
70
–
–
8,381
612
(176)
600
At 30 June 2015 and
1 July 2015
Additions
Disposals
Transfer from construction-in-
progress
Transfer to subsidiary
373
2
–
23
–
1,986
89
–
–
(42)
973
120
(85)
–
–
670
33
–
47
–
5,345
–
–
–
–
70
–
–
(70)
–
9,417
244
(85)
–
(42)
At 30 June 2016
398
2,033
1,008
750
5,345
–
9,534
Accumulated depreciation:
At 1 July 2014
Charge for the year
Disposals
90
73
–
906
209
–
618
200
(176)
115
95
–
107
82
–
–
–
–
1,836
659
(176)
At 30 June 2015 and
1 July 2015
Charge for the year
Disposals
Transfer to subsidiary
163
78
–
–
1,115
218
–
(42)
642
182
(80)
–
210
115
–
–
189
90
–
–
–
–
–
–
2,319
683
(80)
(42)
At 30 June 2016
241
1,291
744
325
279
–
2,880
Net book value
At 30 June 2015
210
871
331
460
5,156
70
7,098
At 30 June 2016
157
742
264
425
5,066
–
6,654
In April 2015, the Group transferred one office unit from investment properties to property, plant and equipment.
On that date, the Group determined that this unit will no longer be held to earn rentals, and commenced the use
of this unit for its own operations. There was no transfer during the financial year ended 30 June 2016.
The Group’s and the Company’s leasehold building with a carrying amount of $5,066,000 (2015: $5,156,000) are
mortgaged to secure the Group’s and the Company’s interest-bearing borrowings (Note 28).
As at 30 June 2016, the fair value of the buildings owned by the Group and the Company were determined to
be $7,040,000 (2015: $6,065,000) and $$5,810,000 (2015: $6,065,000) respectively. The valuation was performed
by Colliers International Consultancy & Valuation (Singapore) Pte Ltd in Singapore and VPC Alliance (KL)
Sdn Bhd in Malaysia, independent valuers with 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.
