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4. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)(c)Property, plant and equipment (continued)(vi) Repairs and maintenanceRepairs and maintenance are charged to the Income Statement during the period in which they are incurred.The cost of major renovations is included in the carrying amount of the asset when it is probable that futureeconomic benefits in excess of the originally assessed standard of performance of the existing asset will flowto the Group. This cost is depreciated over the remaining useful life of the related asset.(d) Investment propertiesInvestment properties principally comprising freehold land and buildings, are held for long term rental yields or forcapital appreciation or both, and are not occupied by the Group.Investment properties are stated at cost less accumulated depreciation and impairment losses. Investmentproperties are depreciated on a straight line basis to write off the cost of investment properties to their residualvalues over their estimated useful lives as summarised as below:Freehold landBuildingsIndefinite useful life50 yearsOn disposal of an investment property, or when it is permanently withdrawn from use and no future economicbenefits are expected, then it shall be derecognised (eliminated from balance sheet). The difference between thenet disposal proceeds and the carrying amount is recognised as profit or loss in the period of the retirement ordisposal.(e)Investments(i) Subsidiaries and associatesThe investments in subsidiaries and associates are shown at cost. Where an indication of impairment exists,the carrying value of the investment is assessed and written down immediately to its recoverable amount(see significant accounting policy note 4(f) on impairment of non-financial assets).On disposal of an investment, the difference between net disposal proceeds and the carrying amount ischarged or credited to the Income Statement.(ii)Other long term investmentsOther long term investments are shown at cost and an allowance for diminution in value other than temporaryis made for each non current investment individually where, in the opinion of the Directors, there is a declineother than temporary in the value of the investments, and recognised as an expense in the financial year inwhich the decline is identified.Annual Report 2009 • 183