NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
120
COSCO Corporation (Singapore) Limited
23.
Property, plant and equipment
(continued)
The Group
(continued)
Borrowing costs of $383,000 (2013: $314,000) which arise mainly due to financing for the construction of
docks and quays are capitalised during the financial year (Note 8) at an effective interest rate of 5.88%
(2013: 5.89%) per annum.
The Company
Office
renovations,
furniture,
fixtures and
equipment
Motor
vehicles
Total
$’000
$’000
$’000
2014
Cost
Beginning of financial year
566
1,122
1,688
Additions
18
–
18
Disposals
(12)
–
(12)
End of financial year
572
1,122
1,694
Accumulated depreciation
Beginning of financial year
556
364
920
Depreciation charge
11
128
139
Disposals
(12)
–
(12)
End of financial year
555
492
1,047
Net book value
End of financial year
17
630
647
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
