FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
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<strong>Sheng</strong> <strong>Siong</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><br />
Notes to the Financial Statements<br />
5 Property, plant and equipment – Group (Continued)<br />
The Group’s leasehold property as at 31 December <strong>2011</strong> was as follows:<br />
Location Description Tenure Floor area (sq. m.)<br />
6 Mandai Link,<br />
Singapore 728652<br />
3000 Marsiling Road,<br />
Singapore 739108<br />
4 storey warehouse with<br />
ancillary offices<br />
6 Non-current asset held for sale – Group<br />
30 years lease commencing<br />
in 2009, with an option to<br />
renew for another 30 years<br />
provided certain investment<br />
conditions are met<br />
Two storey factory 60 years lease commencing<br />
on 1974<br />
50,455<br />
8,796<br />
The non-current asset held for sale comprises the leasehold property at 3000 Marsiling Road Singapore<br />
739108, for which the Company had entered into a sale and purchase agreement on 16 November <strong>2011</strong> with<br />
an external party. The sale was completed as of the date of this report (see Note 26).<br />
Note <strong>2011</strong><br />
$’000<br />
Asset classified as held for sale<br />
Leasehold property 5 3,584<br />
7 Subsidiaries<br />
Note<br />
Company<br />
<strong>2011</strong><br />
$’000<br />
Equity investment at cost<br />
At incorporation date –<br />
Acquisition pursuant to Restructuring Exercise 2 78,234<br />
At 31 December <strong>2011</strong> 78,234<br />
59
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