94
94
SINGAPORE SHIPPING CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
9. PROPERTY, PLANT AND EQUIPMENT (CONTINUED)
The Group
Vessels
Drydocking
expenditure
Renovations,
furniture
and fittings
Equipment
and
computers
Motor
vehicle Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Accumulated
depreciation
At 1 April 2014
12,411
341
135
231
5
13,123
Depreciation for the
year
3,081
592
9
91
5
3,778
Written off
–
–
–
(2)
–
(2)
Currency translation
differences
–
–
*
(6)
(1)
(7)
At 31 March 2015
15,492
933
144
314
9
16,892
Depreciation for
the year
6,136
647
67
85
5
6,940
Written off
–
(578)
(109)
(28)
–
(715)
Currency translation
differences
–
–
*
5
*
5
At 31 March 2016
21,628 1,002
102
376
14
23,122
Carrying amounts
At 1 April 2014
54,376 1,064
52
208
15
55,715
At 31 March 2015
161,619
442
69
141
9 162,280
At 31 March 2016
155,481
558
736
247
4 157,026
* Less than US$1,000
Impairment assessment on vessels
Each of the Group’s vessels is a separate cash-generating unit. Under the Group’s formal impairment
assessment of its vessels, where applicable, the recoverable amount for each vessel is determined
based on the higher of fair value less costs to sell and value-in-use calculation.
