Annual Report 2019

147 Miramar Hotel and Investment Company, Limited Annual Report 2019 Notes to the Financial Statements 10 Investment properties, other property, plant and equipment (Continued) (a) Reconciliation of carrying amount (continued) Other property, plant and equipment Investment properties Hotel Land and buildings ^ Other properties leased for own use carried at cost Others* Sub-total Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 Cost or valuation: At 1 January 2018 14,102,734 140,221 6,817 – 1,515,954 1,662,992 15,765,726 Additions 6,566 – 54,172 – 21,857 76,029 82,595 Disposals – – – – (26,868) (26,868) (26,868) Exchange adjustments (35,027) – (1,795) – (3,452) (5,247) (40,274) Surplus on revaluation 783,475 – – – – – 783,475 Reclassification 9,333 – – – (9,333) (9,333) – At 31 December 2018 14,867,081 140,221 59,194 – 1,498,158 1,697,573 16,564,654 Representing: Cost – 140,221 59,194 – 1,498,158 1,697,573 1,697,573 Valuation – 2018 14,867,081 – – – – – 14,867,081 14,867,081 140,221 59,194 – 1,498,158 1,697,573 16,564,654 Accumulated depreciation: At 1 January 2018 – 99,397 5,256 – 1,252,384 1,357,037 1,357,037 Charge for the year – 1,918 66 – 97,158 99,142 99,142 Written back on disposals – – – – (22,177) (22,177) (22,177) Exchange adjustments – – – – (3,221) (3,221) (3,221) At 31 December 2018 – 101,315 5,322 – 1,324,144 1,430,781 1,430,781 Carrying amount: At 31 December 2018 14,867,081 38,906 53,872 – 174,014 266,792 15,133,873 * Others mainly comprise machinery, furniture, fixtures and equipment. ^ Land and buildings comprise leasehold land, freehold land and buildings held for own use.