|
|
8. Property, Plant &
Equipment -Company | Group
Company
| |
Freehold
land
buildings |
Ducts,
cables
and other
outside plant |
Telephone
Exchanges |
Trans-mission
equipment |
Other
fixed
assets |
Contract
work-in-
progress |
Total |
| Year
ended 31 December 2000 |
|
|
|
|
|
|
|
| Opening
net book amount |
1,481 |
30,963 |
7,809 |
6,737 |
1,023 |
10,211 |
58,224 |
| Additions |
37 |
3,344
|
1,405 |
1,703 |
263 |
2,639 |
9,391 |
| Transfers
from work-in-progress |
82 |
2,455 |
744 |
779 |
144 |
(4,204) |
- |
| Depreciation
charge |
(27) |
(4,204) |
(864) |
(728) |
(296) |
- |
(6,119) |
| Closing
net book amount |
1,573
|
32,558
|
9,094
|
8,491
|
1,134
|
8,646
|
61,496
|
| |
|
|
|
|
|
|
|
| At 31 December 2000 |
|
|
|
|
|
|
|
| Cost |
1,708
|
50,250 |
13,086 |
11,459 |
2,375
|
8,646 |
87,524 |
| Accumulated depreciation |
(135) |
(17,692) |
(3,992) |
(2,968) |
(1,239) |
- |
(26,026) |
| Net book amount |
1,573
|
32,558
|
9,094
|
8,491
|
1,134
|
8,646
|
61,496
|
| |
|
|
|
|
|
|
|
| Year ended 31 December
2001 |
|
|
|
|
|
|
|
| Opening net book
amount |
1,573
|
32,558
|
9,094 |
8,491 |
1,134 |
8,646 |
61,496 |
| Additions |
3 |
212 |
22 |
16 |
154 |
4,054 |
4,461 |
| Transfers from work-in-progress |
94 |
4,329 |
1,414 |
555 |
252 |
(6,644) |
- |
| Inter-Group transfers |
- |
(2) |
1 |
- |
1 |
- |
- |
| Depreciation charge |
(28) |
(4,601) |
(995) |
(888) |
(355) |
- |
(6,867) |
| Closing net book
amount |
1,642
|
32,496
|
9,536
|
8,174
|
1,186
|
6,056
|
59,090
|
| |
|
|
|
|
|
|
|
| At 31 December 2001 |
|
|
|
|
|
|
|
| Cost |
1,805 |
54,789 |
14,523 |
12,030
|
2,768 |
6,056 |
91,971 |
| Accumulated depreciation |
(163) |
(22,293) |
(4,987) |
(3,856) |
(1,582) |
- |
(32,881) |
| Net book amount |
1,642
|
32,496
|
9,536
|
8,174
|
1,186
|
6,056
|
59,090
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| a)
As at 1 September 1991 the Department of Telecommunications
(DOT) transferred its entire telecommunications
business and related assets and liabilities to
SLT. A valuation was performed by the Government
of the assets and liabilities transferred to SLT.
The net amount of those assets and liabilities
represents SLT's Contributed Capital on incorporation,
and those values were used for the opening cost
of fixed assets at 1 September 1991 in the first
statutory accounts of SLT.
Further, SLT was converted into a public limited
company, Sri Lanka Telecom Limited (SLTL), on
25 September 1996 and on that date all of the
business and the related assets and liabilities
of SLT were transferred to SLTL as part of the
privatisation process.
|
| (b)
Assets are depreciated as follows: |
|
| Asset
category |
Depreciation
method |
Useful
life |
| Freehold land |
- |
Nil |
| Freehold buildings |
Straight
line |
50
years |
| Ducts and other outside
plant |
Straight
line |
10
to 25 years |
| Undersea cables |
|
|
| (ducts, cables and
other outside plant) |
Straight
line |
8
to 10 years |
| Telephone Exchanges
and transmission equipment |
Straight
line |
12.5
years |
| Motor vehicles |
Straight
line |
5
years |
| Other fixed assets |
Straight
line |
5
to 10 years |
| |
|
|
(c) The
cost of fully depreciated assets as at 31 December
2001 is Rs. 4,338 million
(2000
- Rs. 3,876 million). |
| (d)A
fully depreciated motor vehicle, the cost of which
amounted to Rs. 5 million, was disposed of during
the year for Rs. 4 million. |
(e)Borrowing
costs capitalised during the year to 31 December
2001 were Rs. 694 million
(2000
- Rs. 700 million). |
| (f) No
assets have been mortgaged or pledged as security
by SLTL. |
| (g)The
value of property, plant & equipment includes
capitalised borrowing costs. The cost and net book
value of such borrowing
costs are as follows: |
| |
|
Group/Company |
| |
|
2001
|
2000
|
| |
Cost |
4,784 |
4,087 |
| |
Accumulated
depreciation |
(1,338) |
(1,053) |
| |
Net
book value |
3,446
|
3,034
|
|
(h) The Directors believe SLTL has freehold title
to land and buildings transferred from SLT on Incorporation
(conversion of SLT to SLTL on 25 September 1996),
although it is uncertain whether vesting
orders specifying all the demarcations and extents
of such land and buildings were issued.
(i) The property, plant & equipment is not insured
except for third party motor vehicle insurance.
An insurance reserve
has been created together with a sinking fund investment
to meet any future loss with
regard to uninsured property, plant & equipment.
At the Balance Sheet date, Rs. 86 million stood
to the credit of the
reserve and is included under provisions (Note 19).
The sinking fund investment of that
amount is included under cash & cash equivalents
[Note 13 (a)].
|
|
 |
