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Investment property
 12 Months Ended
Dec. 31, 2017
Text Block1 [Abstract]  
Investment property
12. Investment property

 

     31.12.2016      31.12.2017      31.12.2017  
     RMB’000      RMB’000      US$’000  

Cost

         

At January 1

      31,323        31,776        5,020  

Translation difference

      453        1,169        185  
  

 

 

     

 

 

     

 

 

  

At December 31

      31,776        32,944        5,205  
  

 

 

     

 

 

     

 

 

  

Accumulated depreciation

         

At January 1

      23,886        24,478        3,867  

Charge for the year

      248        248        39  

Translation difference

      344        784        125  
  

 

 

     

 

 

     

 

 

  

At December 31

      24,478        25,510        4,031  
  

 

 

     

 

 

     

 

 

  

Net carrying amount

      7,298        7,434        1,174  
  

 

 

     

 

 

     

 

 

  

Fair value

      10,149        10,557        1,668  
  

 

 

     

 

 

     

 

 

  

Consolidated statements of profit or loss:

         

Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property

      (571 )       (508 )       (80 ) 
  

 

 

     

 

 

     

 

 

  

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

2017

   

Market comparison and cost
method

   

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

2016

   

Market comparison and cost
method

   

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