O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX
O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX
O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX
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15 Property, Plant and Equipment<br />
O<strong>TTO</strong> M<strong>ARINE</strong> L<strong>IMITED</strong> AND ITS SUBSIDIARIES<br />
Office<br />
Leasehold<br />
Land and<br />
Equipment<br />
Furniture Motor<br />
Machinery<br />
and Construction<br />
Vessels Building and Fittings Vehicles Equipment In-progress Total<br />
$’000 $’000 $’000 $’000 $’000 $’000 $’000<br />
Cost:<br />
At January 1, 2005 ..... — 3,800 345 70 30,525 — 34,740<br />
Additions ............ — 285 150 270 2,932 4,788 8,425<br />
Disposals ............ — — (54) (9) — — (63)<br />
At December 31, 2005 . . — 4,085 441 331 33,457 4,788 43,102<br />
Additions ............ — 2,181 216 279 3,444 2,028 8,148<br />
Transfers ............ — 1,435 240 — 3,091 (4,766) —<br />
At December 31, 2006 . . — 7,701 897 610 39,992 2,050 51,250<br />
Arising on acquisition . . . — 6,342 — — 3,489 — 9,831<br />
Additions ............ 35,559 — 326 479 1,479 28,349 66,192<br />
Transfers ............ — 2,710 — — 1,231 (3,941) —<br />
Disposals ............ — — (311) (186) (30,128) — (30,625)<br />
At December 31, 2007 . . 35,559 16,753 912 903 16,063 26,458 96,648<br />
Accumulated depreciation:<br />
At January 1, 2005 ..... — 1,208 210 26 26,554 — 27,998<br />
Depreciation .......... — 140 56 59 3,142 — 3,397<br />
Disposals ............ — — (6) (4) — — (10)<br />
At December 31, 2005 . . — 1,348 260 81 29,696 — 31,385<br />
Depreciation .......... — 159 96 102 981 — 1,338<br />
At December 31, 2006 . . — 1,507 356 183 30,677 — 32,723<br />
Arising on acquisition . . . — 379 — — 436 — 815<br />
Depreciation .......... 200 336 207 190 1,429 — 2,362<br />
Exchange difference .... (8) — — — — — (8)<br />
Disposals ............ — — (280) (119) (29,856) — (30,255)<br />
At December 31, 2007 . . 192 2,222 283 254 2,686 — 5,637<br />
Carrying value:<br />
At December 31, 2007 . . 35,367 14,531 629 649 13,377 26,458 91,011<br />
At December 31, 2006 . . — 6,194 541 427 9,315 2,050 18,527<br />
At December 31, 2005 . . — 2,737 181 250 3,761 4,788 11,717<br />
Certain motor vehicles with carrying amount of $480,000 (2006: $210,000; 2005: $Nil) are under<br />
finance leases arrangements (Note 20).<br />
The carrying amounts of property, plant and equipment mortgaged as security for bank loans<br />
(Note 16) are as follows:<br />
Vessels<br />
Leasehold<br />
Land and<br />
Building<br />
Office<br />
Equipment<br />
Furniture<br />
and Fittings<br />
Motor<br />
Vehicles<br />
Machinery<br />
and<br />
Equipment Construction<br />
In-progress Total<br />
$’000 $’000 $’000 $’000 $’000 $’000 $’000<br />
At December 31, 2007. . . . . 31,984 8,568 553 169 10,324 4,769 56,367<br />
At December 31, 2006. . . . . — 6,194 525 124 9,315 2,050 18,208<br />
At December 31, 2005. . . . . — 2,737 181 126 3,761 4,788 11,593<br />
A1-23
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