5. Lease prepayments
Leasehold
land
Group
$’000
Cost
At 1 July 2013
8,334
Additions
1,113
Net exchange differences
(12)
At 30 June 2014 and 1 July 2014
9,435
Additions
420
Net exchange differences
106
At 30 June 2015
9,961
Accumulated amortisation
At 1 July 2013
3,339
Amortisation charge for the year (Note 27)
281
Net exchange differences
(2)
At 30 June 2014 and 1 July 2014
3,618
Amortisation charge for the year (Note 27)
292
Net exchange differences
19
At 30 June 2015
3,929
Net carrying amount
At 30 June 2014
5,817
At 30 June 2015
6,032
Included in lease prepayments of the Group are the following:
Group
2015 2014
$’000 $’000
Leasehold land pledged as security for
interest-bearing loans and borrowings
3,580
3,701
The Group has land use rights over certain plots of land in the People’s Republic of China,
Indonesia and Singapore where the shipyards of the Group operate. The land use rights
have remaining tenures ranging from 7 to 40 years (2014: 7 to 41 years) and are non-
transferable under pledge.
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
109
