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Property plant and equipment net | 12 Months Ended
--- | ---
Dec. 31, 2023
Property, plant and equipment | Note 8: Property, plant and equipment, net
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$’000 |  |  | US$’000 |
Office premises* |  |  | 673 |  |  |  | 673 |
Leasehold improvements |  |  | 67 |  |  |  | 67 |
Furniture, fixtures and office equipment |  |  | 313 |  |  |  | 311 |
Motor vehicles |  |  | 172 |  |  |  | 173 |
Testing equipment |  |  | 32 |  |  |  | 32 |
|  |  | 1,257 |  |  |  | 1,256 |
Less: Accumulated depreciation |  |  | (1,089 | ) |  |  | (1,077 | )
|  |  | 168 |  |  |  | 179 |
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Depreciation charge |  |  | 15 |  |  |  | 33 |  |  |  | 38 |
* Far East earns rental income from a property in Beijing, PRC for which it does not hold the title. Far East is investigating various ways in which to obtain the title but has not formulated a specific plan as of the date of issuance of these consolidated financial statements. The net book value of the property at December 31, 2023 is approximately US$80,000 (2022: US$84,000).
ZHEJIANG TIANLAN |
Property, plant and equipment |
9. | Property, plant and equipment
|  |  |  |  | December 31, |
|  |  |  |  | 202 3 |  |  | 202 2 |
|  |  |  |  | RMB’000 |  |  | RMB’000 |
Building and leasehold improvements |  |  |  |  |  | 112,792 |  |  |  | 167,874 |
Furniture, fixtures and office equipment |  |  |  |  |  | 4,122 |  |  |  | 3,795 |
Motor vehicles |  |  |  |  |  | 4,478 |  |  |  | 4,610 |
Plant and machineries |  |  |  |  |  | 10,619 |  |  |  | 10,619 |
Total |  |  |  |  |  | 132,011 |  |  |  | 186,898 |
Less: Accumulated depreciation and amortization |  |  |  |  |  | (68,506 | ) |  |  | (82,252 | )
Accumulated impairment losses |  |  |  |  |  | - |  |  |  | (36,241 | )
Total |  |  |  |  |  | (68,506 | ) |  |  | (118,493 | )
Net |  |  |  |  |  | 63,505 |  |  |  | 68,405 |
|  | Year ended December 31, |
|  | 202 3 |  |  | 202 2 |  |  | 202 1 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Depreciation charge |  |  | 5,964 |  |  |  | 6,580 |  |  |  | 6,466 |
At December 31, 2023, the net book value of property, plant and equipment pledged as security for the Company’s bank loans and third party loans amounted to approximately RMB1,026,000 (2022: RMB1,275,000).

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