Notes to the Financial Statements For the financial year ended 31 December 2024 3 PROPERTY, PLANT AND EQUIPMENT (continued) Property, plant and equipment owned (continued) Note Land and buildings Plant, machinery and improvements Motor vehicles Furniture, fittings and equipment Assets under construction Total $’M $’M $’M $’M $’M $’M The Group Accumulated depreciation and impairment loss At 1 January 2023 115 46 10 329 – 500 Depreciation 25(c) 23 8 * 32 – 63 Disposals/written off – (4) (*) (23) – (27) Reclassifications to other categories of assets (b) (11) (4) – (4) – (19) Reclassifications 10 – (1) (9) – – Translation differences 2 * * 4 – 6 At 31 December 2023 139 46 9 329 – 523 At 1 January 2024 139 46 9 329 – 523 Depreciation 25(c) 22 9 * 35 – 66 Disposal of subsidiaries (128) (27) (1) (121) – (277) Disposals/written off (*) (4) (7) (15) – (26) Reclassifications to other categories of assets – – – (*) – (*) Reclassifications – 1 – (1) – – Translation differences (11) (1) (*) (1) – (13) At 31 December 2024 22 24 1 226 – 273 Carrying amounts At 31 December 2023 787 52 * 75 29 943 At 31 December 2024 13 39 1 60 5 118 * Less than $1 million (a) As at 31 December 2024, the carrying amounts of land and buildings comprise $nil (2023: $458 million) of freehold land and buildings and $13 million (2023: $329 million) of leasehold land and buildings. (b) The classification of lodging properties as property, plant and equipment or investment property is based on the level of ancillary services and the length of stay, amongst other factors. In 2023, the Group evaluated and reclassified a lodging property in Ireland from investment properties (note 5) with the plan to renovate, rebrand and operate it as a full facility hotel. The Group also reclassified three lodging properties in Singapore and Australia to assets held for sale (note 13). 116 CapitaLand Investment Limited Notes to the Financial Statements For the financial year ended 31 December 2024 3 PROPERTY, PLANT AND EQUIPMENT (continued) Property, plant and equipment owned (continued) Plant, machinery and improvement Furniture, fittings and equipment Total $’M $’M $’M The Company Cost At 1 January 2023 * * * Additions 28 4 32 At 31 December 2023 28 4 32 At 1 January 2024 28 4 32 Additions 12 3 15 At 31 December 2024 40 7 47 Accumulated depreciation At 1 January 2023 * * * Depreciation * * * At 31 December 2023 * * * At 1 January 2024 * * * Depreciation 4 2 6 At 31 December 2024 4 2 6 Carrying amounts At 31 December 2023 28 4 32 At 31 December 2024 36 5 41 * Less than $1 million 117 Annual Report 2024
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