Annual - Johnson Electric

7. Investment properties
NOTES TO THE ACCOUNTS
2006 2005
US$’000 US$’000
At 1st April, as restated 8,356 8,945
Fair value gains (note 28) 5,671 462
Transfer from properties, plant and equipment and leasehold land
– Costs 807 –
– Revaluation surplus (note 27) 2,368 –
Disposals – (1,051)
At 31st March 17,202 8,356
The investment properties were revalued on an open market value basis as at 31st March 2006 by an independent,
professionally qualified valuer, DTZ Debenham Tie Leung Limited, Registered Professional Surveyors.
The Group’s interests in investment properties at their net book values are analysed as follows:
In Hong Kong:
2006 2005
US$’000 US$’000
On medium-term lease (between 10 to 50 years) 17,202 8,356
8. Leasehold land and land use rights
The Group’s interests in leasehold land and land use rights represent prepaid operating lease payments and their net
book value are analysed as follows:
Group
In Hong Kong:
2006 2005
US$’000 US$’000
On medium-term lease (between 10 to 50 years) 20,857 23,196
Outside Hong Kong:
On medium-term lease (between 10 to 50 years) 4,498 4,681
25,355 27,877
2006 2005
US$’000 US$’000
At 1st April, as previously reported – –
Adoption of HKAS 17 27,877 22,019
At 1st April, as restated 27,877 22,019
Exchange adjustments (371) (14)
Additions 1,175 6,609
Transfer to investment properties (511) –
Acquisition of subsidiaries (note 42) 301 –
Amortisation of prepaid operating lease payment (318) (718)
Disposals (2,798) (19)
At 31st March 25,355 27,877
Johnson Electric Holdings Limited 75