Annual Report 2020

146 Notes to the Financial Statements Annual Report 2020 Miramar Hotel and Investment Company, Limited 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 31 December 2018 14,867,081 140,221 59,194 – 1,498,158 1,697,573 16,564,654 Impact on initial adoption of HKFRS 16 – – – 150,435 – 150,435 150,435 At 1 January 2019 14,867,081 140,221 59,194 150,435 1,498,158 1,848,008 16,715,089 Additions 9,782 – 158 56,750 23,763 80,671 90,453 Disposals – – – (1,911) (10,309) (12,220) (12,220) Exchange adjustments (14,081) – 1,380 – (499) 881 (13,200) Surplus on revaluation 503,945 – – – – – 503,945 Reclassification 4,452 – – – (4,452) (4,452) – At 31 December 2019 15,371,179 140,221 60,732 205,274 1,506,661 1,912,888 17,284,067 Representing: Cost – 140,221 60,732 205,274 1,506,661 1,912,888 1,912,888 Valuation–2019 15,371,179 – – – – – 15,371,179 15,371,179 140,221 60,732 205,274 1,506,661 1,912,888 17,284,067 Accumulated depreciation: At 1 January 2019 – 101,315 5,322 – 1,324,144 1,430,781 1,430,781 Charge for the year – 1,918 85 57,988 72,610 132,601 132,601 Written back on disposals – – – (281) (9,522) (9,803) (9,803) Exchange adjustments – – – – (430) (430) (430) At 31 December 2019 – 103,233 5,407 57,707 1,386,802 1,553,149 1,553,149 Carrying amount: At 31 December 2019 15,371,179 36,988 55,325 147,567 119,859 359,739 15,730,918 * Others mainly comprise machinery, furniture, fixtures and equipment. ^ Land and buildings comprise leasehold land, freehold land and buildings held for own use.