Powering growth - Aztech Group Ltd - Investor Relations

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82a z t e c h a n n u a l r e p o r t 2 0 0 9F i n a n c i a l S t a t e m e n t s14 INVESTMENT PROPERTIES (cont’d)(a)Major properties of the <strong>Group</strong> are as follows:AreaDescription Location Existing use (in sq metres) Tenure of lease Fair value2009 2008$’000 $’000Investment Unit B to H, For rental 1,497 50 years with 10,173 9,348Property Level 20 effect fromFortune Building June 26, 2000Junction of JintianRoad and Fuhua3rd Road, FutianDistrict, ShenzhenGuangdongProvince, PRCUnit A Self-occupied 192 50 years with - 1,208Level 20effect fromFortune Building June 26, 2000Junction of JintianRoad and Fuhua3rd Road, FutianDistrict, ShenzhenGuangdongProvince, PRCInvestment ACE Building For rental 545 Freehold 2,150 2,100Property (5th Storey) 146BPaya Lebar RoadSingapore 40901712,323 12,656During the year, the above mentioned Unit A, Level 20 in Fortune Building was transferred out at its fair value from investment propertiesto property, plant and equipment at the date of change in use to owner occupied property.
F i n a n c i a l S t a t e m e n t sa z t e c h a n n u a l r e p o r t 2 0 0 98315 AVAILABLE-FOR-SALE FINANCIAL ASSETSGROUPCOMPANY2009 2008 2009 2008$’000 $’000 $’000 $’000At fair value:Club memberships 555 556 516 516Total 555 556 516 516Fair values of club memberships are determined with reference to quoted market prices at the end of the reporting period. These fall within Level1 of the fair value hierarchy of FRS 107.16 DEFERRED TAXThe following are the major deferred tax liabilities and assets recognised and the movements thereon, during the current and prior reportingperiods:Undistributed Accelerated Propertyprofits of a tax Tax Deferred revaluationsubsidiary depreciation Provisions losses expenditure gain (loss) Total$’000 $’000 $’000 $’000 $’000 $’000 $’000GROUPAt January 1, 2008 - 26 (85) - (348) 989 582Charge (Credit) to profit orloss for the year (Note 28) - 205 56 (876) (201) (948) (1,764)Exchange difference - 2 - - - 15 17At December 31, 2008 - 233 (29) (876) (549) 56 (1,165)Reclassification 152 (152) - (174) - 174 -Charge (Credit) to profit orloss for the year (Note 28) 109 997 (8) 626 480 432 2,636Settlement (156) - - - - - (156)Effects of change in tax rates - (3) - - - - (3)Exchange difference 3 (5) - (7) - (20) (29)At December 31, 2009 108 1,070 (37) (431) (69) 642 1,283COMPANYAt January 1, 2008 - (100) (59) - (348) - (507)Charge (Credit) to profit orloss for the year - 77 59 - (201) - (65)At December 31, 2008 - (23) - - (549) - (572)Charge (Credit) to profit orloss for the year - 7 - - 549 - 556At December 31, 2009 - (16) - - - - (16)
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