| 12. | Investment property |
| 31.12.2016 | 31.12.2017 | 31.12.2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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Cost |
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At January 1 |
31,323 | 31,776 | 5,020 | |||||||||
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Translation difference |
453 | 1,169 | 185 | |||||||||
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At December 31 |
31,776 | 32,944 | 5,205 | |||||||||
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Accumulated depreciation |
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At January 1 |
23,886 | 24,478 | 3,867 | |||||||||
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Charge for the year |
248 | 248 | 39 | |||||||||
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Translation difference |
344 | 784 | 125 | |||||||||
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At December 31 |
24,478 | 25,510 | 4,031 | |||||||||
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Net carrying amount |
7,298 | 7,434 | 1,174 | |||||||||
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Fair value |
10,149 | 10,557 | 1,668 | |||||||||
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Consolidated statements of profit or loss: |
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Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property |
(571 | ) | (508 | ) | (80 | ) | ||||||
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The Group has no restrictions on the realizability of its investment property and no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancement.
The fair value is determined by independent professional valuers that has appropriate recognized professional qualifications and recent experience in the location and category of the property being valued. In valuing the investment property, due consideration is given to factors such as location and size of building, building infrastructure, market knowledge, historical transactions and other relevant factors to arrive at their opinion of value.
The following table shows information about fair value measurement of the investment property using significant unobservable inputs (Level 3):
| Valuation techniques | Unobservable input |
Inter-relationship between key unobservable inputs and fair value measurement |
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2017 |
Market comparison and
cost |
Comparable price:
- Land: RMB 24 to RMB 34 (US$4 to US$5) per square foot
- Retail: RMB 352 to RMB 859 (US$56 to US$139) per square foot |
The estimated fair value increases with higher comparable price |
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2016 |
Market comparison and
cost |
Comparable price:
- Land: RMB 24 to RMB 34 per square foot
- Retail: RMB 337 to RMB 847 per square foot |
The estimated fair value increases with higher comparable price |
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