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Basis of preparation and accounting policies (Tables)

12 Months Ended

Dec. 31, 2020

Statement [LineItems]

Estimated Useful Life of Assets

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Freehold buildings		:		50 years
Leasehold buildings and improvements		:		Shorter of 15 to 50 years or lease term
Plan t, machinery a nd equipment		:		3 to 20 years
Office furniture, fittings and equipment		:		3 to 20 years
Motor and transport vehicles		:		3.5 to 15 years

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de

-

recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognized.

Disclosure of detailed information about intangible assets useful life

A summary of the policies applied to the Group’s intangible assets is as follow

s

:


		Trademarks		Technology know-how		Development costs
Useful lives		Indefinite		10 years		*
Amortization method used		No amortization		Amortized on a straight-line basis over the period of the technology know-how		*
Internally generated or acquired		Acquired		Internally generated		Internally generated

*

Development costs relate to

on-going

development projects that have not been completed and are not available for use.

Disclosure of detailed information about right-of-use assets useful life

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, as follows:


• Leasehold land		3 to 50 years
• Building and office space		1 to 6 years
• Office furniture, fittings and equipment		5 years