NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C1 Property, plant and equipment Group Freehold land, buildings and improvements $’000 Wharves, floating docks and boats $’000 Cost At 1 January 2022 1,517,979 145,776 Additions 26,015 54 Disposals/write-off (9,399) (18) Acquisition of subsidiaries 999 – Disposal of subsidiaries (137,653) (56,335) Reclassifications 4,243 15,217 Translation difference (16,135) (235) At 31 December 2022 1,386,049 104,459 Accumulated depreciation and impairment At 1 January 2022 846,496 123,627 Depreciation charge/impairment losses 76,126 10,771 Disposals/write-off (8,677) (1) Disposal of subsidiaries (70,572) (31,796) Reclassifications 150 – Translation difference (4,899) (384) At 31 December 2022 838,624 102,217 Net book value At 31 December 2022 547,425 2,242 * Others comprise transportation equipment, vehicles and satellites During the year, the Group performed an impairment assessment and recognised an impairment loss of $42,378,000 on certain property, plant and equipment. The recoverable amounts of these property, plant and equipment were determined based on the fair market value of the property, plant and equipment, net of selling costs. 162 ST ENGINEERING ANNUAL REPORT 2022
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