Page 120 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
118
COSCO Corporation (Singapore) Limited
F i nanc i a l Statement s
23. Property, plant and equipment (continued)
The Group (continued)
Borrowing costs of $314,000 (2012: $526,000) which arise mainly due to financing for the construction of docks
and quays are capitalised during the financial year (Note 8) at an effective rate of 5.89% (2012: 6.27%) per annum.
The Company
Office
renovations,
furniture,
fixtures and
equipment
Motor
vehicles Total
$’000 $’000 $’000
2013
Cost
Beginning of financial year 565 1,122 1,687
Additions 1 – 1
End of financial year 566 1,122 1,688
Accumulated depreciation
Beginning of financial year 546 236 782
Depreciation charge 10 128 138
End of financial year 556 364 920
Net book value
End of financial year 10 758 768
2012
Cost
Beginning of financial year 553 1,212 1,765
Additions 14 245 259
Disposals (2) (335) (337)
End of financial year 565 1,122 1,687
Accumulated depreciation
Beginning of financial year 535 306 841
Depreciation charge 13 123 136
Disposals (2) (193) (195)
End of financial year 546 236 782
Net book value
End of financial year 19 886 905