For the financial year ended 31 December 2015
81
ANNUAL REPORT 2015
11. INVESTMENT PROPERTIES
(CONTINUED)
Reconciliation of fair value measurements categorised within Level 3:
Commercial
Industrial
properties properties
$’000
$’000
2015
Beginning of financial year
148,435
67,300
Improvements
2,282
–
Fair value changes recognised in profit or loss
(1,467)
(500)
Currency translation
(5,227)
–
End of financial year
144,023
66,800
2014
Beginning of financial year
107,800
67,300
Transfer to Level 3
37,635
–
Improvements
28
85
Fair value changes recognised in profit or loss
2,972
(85)
End of financial year
148,435
67,300
There were no changes in valuation techniques during the year.
The Group’s policy is to recognise transfers into and out of fair value hierarchy levels as of the date of the event or
change in circumstances that caused the transfer.
The details of the Group’s investment properties as at 31 December 2015 are as follows:
Investment properties Description
Tenure of land Independent valuer
Haw Par Glass Tower
178 Clemenceau Avenue
Singapore 239926
9-storey office building on a land
area of 899 square metres. The
lettable area is 3,316 square metres.
99-year lease from
2 June 1970
DTZ Debenham Tie
Leung (SEA) Pte Ltd
Haw Par Centre
180 Clemenceau Avenue
Singapore 239922
6-storey office building on a land
area of 2,464 square metres. The
lettable area is 10,251 square metres.
99-year lease from
1 September 1952
DTZ Debenham Tie
Leung (SEA) Pte Ltd
Haw Par Technocentre
401 Commonwealth Drive
Singapore 149598
7-storey industrial building on a land
area of 8,131 square metres. The
lettable area is 15,700 square metres.
99-year lease from
1 March 1963
DTZ Debenham Tie
Leung (SEA) Pte Ltd
Menara Haw Par
Lot 242, Jalan Sultan
Ismail, 50250
Kuala Lumpur
Malaysia
32-storey office building on a land
area of 2,636 square metres and a
parcel of commercial land of 1,294
square metres. The lettable area of
the building is 16,131 square metres.
Freehold
DTZ Nawawi Tie Leung
Property Consultants Sdn
Bhd
NOT E S TO T H E F I NAN C I A L S TAT EME N T S
(CONTINUED)
