Financial Statements - Mewah Group

MEWAH INTERNATIONAL INC.
ANNUAL REPORT 2011
Notes to the Financial Statements
For the financial year ended 31 December 2011
18. Property, plant and equipment (continued)
Furniture,
Leasehold fixtures Capital
Freehold land land and Plant and and office Motor expenditure
and buildings buildings equipment equipment vehicles in progress Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Group
2010
Cost
Beginning of the financial year 59 54,080 156,850 11,465 6,102 20,190 248,746
Currency translation differences 12 5,653 17,907 993 468 2,984 28,017
Additions 1 432 3,759 1,926 795 33,639 40,552
Acquisition of subsidiaries - 86 6 - 31 - 123
Disposals - (2) (365) (495) (843) (491) (2,196)
Write off (2) - (3,625) (174) - (2) (3,803)
Reclassification 137 (109) 11,670 5 - (11,703) -
End of the financial year 207 60,140 186,202 13,720 6,553 44,617 311,439
Accumulated depreciation
Beginning of the financial year 15 7,492 57,590 7,305 2,995 - 75,397
Currency translation differences 4 826 7,328 674 248 - 9,080
Depreciation charge 3 1,260 9,694 1,361 946 - 13,264
Disposals - (2) (291) (487) (629) - (1,409)
Write off (1) - (2,682) (143) - - (2,826)
Reclassification 44 (44) - - - - -
End of the financial year 65 9,532 71,639 8,710 3,560 - 93,506
Net book value
End of the financial year 142 50,608 114,563 5,010 2,993 44,617 217,933
(a) The carrying amounts of motor vehicles acquired under finance leases as at 31 December 2011 was US$945,000 (2010:
US$987,000).
(b)
(c)
Bank borrowings were secured on property, plant and equipment of the Group with carrying amounts of US$155,772,000
(2010: US$177,743,000).
The revalued property, plant and equipment deemed as cost were as follows:
Group
2011 2010
US$’000 US$’000
Leasehold land and building 10,214 10,369
Plant and machinery 19,158 19,469
Furniture, fixture and office equipment 231 238
29,603 30,076
86