4. Property, plant and equipment (cont’d)
The depreciation charge for the year as shown in profit or loss is arrived at as follows:
Group
2015 2014
$’000 $’000
Depreciation charge for the year
49,626 42,441
Depreciation included in inventories (Note 9)
(2,297)
(995)
Depreciation included in construction
work-in-progress carried forward (Note 10)
(11,032)
(7,535)
Depreciation previously included in inventories
and construction work-in-progress now
charged to profit or loss
8,530 11,319
Depreciation charge as disclosed in Note 27
44,827 45,230
Assets under construction
Assets under construction comprise mainly vessels, plant and machinery as well as cranes
in Jiangmen, China and yard facilities in Batam, Indonesia.
Assets under finance leases
The Group acquired property, plant and equipment with an aggregate cost of $121,909,000
(2014: $114,858,000), of which $3,142,000 (2014: $2,455,000) was acquired by means of
finance lease. The cash outflow on acquisition of property, plant and equipment amounted
to $118,767,000 (2014: $112,403,000).
Included in net carrying amount of property, plant and equipment of the Group are the
following:
Group
2015 2014
$’000 $’000
Assets held under finance leases:
Motor vehicles
154
277
Plant and machinery
24,288 27,163
Barge
10,426 11,130
34,868 38,570
Assets pledged as security
Assets pledged as security for interest-bearing
loans and borrowings and trust receipts:
Leasehold property and buildings
13,966 13,194
Plant and machinery
2,315
2,763
Tugs and other vessels
174,441 188,651
Barges
70,859 19,175
Dry docks, quays and ancillary
68,627 73,740
330,208 297,523
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
108
