Tools

7 Investment Properties

US$'000 2016 2015
At 1 January 2,400 2,605
Depreciation (34) (66)
Disposal (2,330) -
Exchange difference (36) (139)
At 31 December - 2,400
Estimated useful lives - 45 years

During the year, the Group sold all its investment properties in the PRC. The investment properties are within Level 3 of the fair value scale. Please refer to Note 11 (Fair value levels) for the definition of different levels.

Accounting policy

Investment properties, comprising mainly buildings, are held for a combination of rental yields and capital appreciation. Investment properties are stated initially at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. Depreciation is calculated using a straight-line method to allocate their costs to their residual values over their estimated useful lives. The residual values and useful lives of investment properties are reviewed, and adjusted if appropriate, at each balance sheet date.

Please refer to Note 5 for the accounting policy on impairment.


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