. 110
NOTESTOTHE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
BAKER
TECHNOLOGY
L IMI TED
THE BE ST
I N US
10.
PROPERTY, PLANTANDEQUIPMENT (CONT’D)
(a)
The Group’s leasehold lands and buildings are located at 6 Pioneer Sector 1, Singapore 628418,
10 Jalan Samulun, Singapore 629124 and 12A Jalan Samulun, Singapore 629131.
(b)
Depreciation charge of $2,806,000 (2016: $1,911,000) and $984,000 (2016: $1,701,000) have been
included in theGroup’s Statement of Comprehensive Income andwork-in-progress on inventories,
respectively.
(c)
Inend2017, upon thecompletionof the vessel, thecostwas transferred fromwork-in-progress.
Impairment testingon vessel
As at 31December 2017, theGroup carriedout a reviewof the recoverable amount of its vessel due to the
continuedweakness in theoil andgas industry. The recoverableamountof thevesselwasbasedon its value
inuse and thepre-tax discount ratewas 9.5%. As the recoverable amountwas computed tobehigher than
thecarrying value, no impairment losswas recorded.
Company
Office
equipment
$’000
Cost:
At 1 January 2016, 31December 2016 and1 January 2017
55
Additions
7
At 31December 2017
62
Accumulateddepreciation:
At 1 January 2016
49
Depreciationcharge for the year
4
At 31December 2016 and1 January 2017
53
Depreciationcharge for the year
3
At 31December 2017
56
Net carryingamount:
At 31December 2016
2
At 31December 2017
6
