|At 1 January
|At 31 December
|Estimated useful lives
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.
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