NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (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 $17,140,000 (2023: $42,688,000) 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.) 2024 $’000 2023 $’000 Singapore 1 Ang Mo Kio Electronics Park Road Industrial and commercial buildings 30 years from 1.11.2011 25,272 33,184 33,120 3 Ang Mo Kio Electronics Park Road Industrial and commercial buildings 30 years from 1.12.2015 36,225 115,330 89,919 100 Jurong East Street 21 Industrial and commercial buildings 30 years from 1.11.2018 11,232 39,881 43,487 249 Jalan Boon Lay Industrial and commercial buildings 27 years from 1.10.2001 to 31.12.2028 renewable to 10.10.2065 208,261 80,119 77,277 People’s Republic of China No 2, Huayu Road, Huli District, Xiamen 361017, Fujian Factory building 50 years from 20.11.2008 38,618 34,517 35,069 Germany Grenzstr. 1, Dresden Hangar and office building Freehold 91,485 73,783 75,623 For this purpose, freehold land, buildings and improvements to premises are considered major properties if the net book value of these assets represents 5% or more of the Group’s aggregated net book value in these categories. 165 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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