NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C1 Property, plant and equipment (continued) (a) Property, plant and equipment pledged as security Property, plant and equipment of certain overseas subsidiaries of the Group with a carrying value of $49,252,000 (2021: $56,290,000) are pledged as security for bank loans. (b) Major properties Major land and buildings and improvements to premises are: Net book value Location Description Tenure Land area (sq. m.) 2022 $’000 2021 $’000 Singapore 1 Ang Mo Kio Electronics Park Road Industrial and commercial buildings 30 years from 1.11.2011 20,000 32,182 35,320 3 Ang Mo Kio Electronics Park Road Industrial and commercial buildings 30 years from 1.12.2015 30,000 34,047 36,366 100 Jurong East Street 21 Industrial and commercial buildings 30 years from 1.11.2018 11,232 47,021 49,096 249 Jalan Boon Lay Industrial and commercial buildings 27 years from 1.10.2001 to 31.12.2028 renewable to 10.10.2065 208,261 76,662 84,713 People’s Republic of China No 2, Huayu Road, Huli District, Xiamen 361006, Fujian Factory building 50 years from 20.11.2008 38,618 37,571 42,199 Germany Grenzstr. 1, Dresden Hangar and office building Freehold 91,485 77,435 86,530 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 169
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