notes to the financial statements - Singapore Technologies ...

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148 SIMPLY SMARTERNOTES TO THE FINANCIAL STATEMENTS31 December 2011(Currency - Singapore dollars unless otherwise stated)12. Property, plant and equipment (continued)Net book value2011 2010$’000 $’000The GroupAt ValuationLeasehold land and buildings – –Wharves and slipways – –Syncrolift and floating docks – –Plant and machinery – –Furniture, fittings, office equipment and computers – –At CostFreehold land and buildings 36,318 36,701Leasehold land and buildings 435,072 357,302Improvements to premises 22,065 20,066Wharves and slipways 11,796 12,498Syncrolift and floating docks 317 346Boats and barges 3,720 –Plant and machinery 567,266 532,134Production tools and equipment 69,755 51,757Furniture, fittings, office equipment and computers 36,609 38,209Transportation equipment and vehicles 5,472 5,422Aircraft and aircraft engines 139,403 137,772Construction-in-progress 28,957 109,3361,356,750 1,301,543Property, plant and equipment of net book value amounting to $1,528,000 (2010: $nil) were reclassified to inventories due to changes in the use of these assets(Note 21).
SINGAPORE TECHNOLOGIES ENGINEERING LTD Annual Report 2011149NOTES TO THE FINANCIAL STATEMENTS31 December 2011(Currency - Singapore dollars unless otherwise stated)12. Property, plant and equipment (continued)Furniture, fittings,office equipmentand computersTransportationequipment andvehiclesTotal$’000 $’000 $’000The CompanyCostAs at 1.1.2010 2,489 331 2,820Additions 146 – 146Disposals/write-off (3) – (3)As at 31.12.2010 and 1.1.2011 2,632 331 2,963Additions 1,398 398 1,796Disposals/write-off (282) (331) (613)As at 31.12.2011 3,748 398 4,146Accumulated depreciationAs at 1.1.2010 1,960 149 2,109Depreciation charge for the year 358 66 424Disposals/write-off (3) – (3)As at 31.12.2010 and 1.1.2011 2,315 215 2,530Depreciation charge for the year 374 78 452Disposals/write-off (282) (270) (552)As at 31.12.2011 2,407 23 2,430Net book valueAs at 31.12.2011 1,341 375 1,716As at 31.12.2010 317 116 433(a)Property, plant and equipment at valuationCertain property, plant and equipment, which are shown at valuation are stated at values arrived at by an independent firm of professional valuerson 30 November 1972, on the basis of open market value for existing use. As the property, plant and equipment were subject to a one-timerevaluation prior to 1984, the Group is exempted from having a regular frequency of revaluation in subsequent years. These property, plant andequipment have been fully depreciated as at 31 December 2011 and 2010.(b)Property, plant and equipment pledged as securityProperty, plant and equipment with a carrying value of $97,668,000 (2010: $87,450,000) are pledged as security for short-term and longtermloans.
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