Investment property
Changes in the Group’s investment property in 2017 and 2016 were as follows:
|
| | | | | |
| 2017 | | 2016 |
Beginning of the year | 2,666 |
| | 4,796 |
|
Reclassification to property, plant and equipment (i) | — |
| | (1,335 | ) |
Exchange difference | (395 | ) | | (795 | ) |
End of the year | 2,271 |
| | 2,666 |
|
Cost | 2,271 |
| | 2,666 |
|
Accumulated depreciation | — |
| | — |
|
Net book amount | 2,271 |
| | 2,666 |
|
(i) Relates to new contracts with third parties.
As of December 31, 2017, the fair value (level 3) of investment property was US$ 42 million (2016: US$ 45 million).
