My first Publication ocbc_ar17_fullreport_english | Page 220

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2017
35. PROPERTY, PLANT AND EQUIPMENT (continued)
2017
Property-
related
BANK ($’000)
Cost
At 1 January
Currency translation
Additions
Disposals and other transfers
Net transfer to investment
property (Note 36)
At 31 December
357,002
8
74
–
Computer-
related
998,545
(146)
100,581
(6,668)
(18,701)
–
338,383 1,092,312
Accumulated depreciation
At 1 January
Currency translation
Disposals and other transfers
Depreciation charge
Net transfer to investment
property (Note 36)
At 31 December
Accumulated impairment
losses (Note 32)
At 1 January/31 December
2016
Others
Total
Property-
related
Computer-
related
Others
Total
174,768 1,530,315
(381)
(519)
5,173
105,828
(2,073)
(8,741) 262,963
11
94,871
– 902,407
23
131,823
(35,708) 172,137 1,337,507
(211)
(177)
10,085
236,779
(7,243)
(42,951)
–
177,487 (18,701)
1,608,182 (843)
357,002 –
998,545 –
174,768 (843)
1,530,315
(87,693)
(5)
–
(7,752) (661,613)
116
6,592
(108,768) (131,340)
327
1,984
(11,882) (880,646)
438
8,576
(128,402) (80,836)
(8)
–
(7,249) (596,578)
(19)
35,518
(100,534) (123,147)
207
5,902
(14,302) (800,561)
180
41,420
(122,085)
7,035
(88,415) –
(763,673) –
(140,911) 7,035
(992,999) 400
(87,693) –
(661,613) –
(131,340) 400
(880,646)
(820) (820) – – (820)
336,932 43,428 648,849
(820)
– –
328,639 36,576
Net carrying value,
at 31 December 249,148 Freehold property
Leasehold property
Net carrying value 44,436
204,712
249,148 56,265
212,224
268,489
Fair value hierarchy
Level 2
Level 3
Market value 366,205
280,119
646,324 227,368
431,325
658,693
614,363
268,489
Market values for properties under Level 2 of the fair value hierarchy are determined based on the direct market comparison method.
Such valuation is derived from price per square metre for comparable buildings market data with insignificant valuation adjustment,
if necessary.
Market values for properties under Level 3 of the fair value hierarchy are determined using a combination of direct market comparison
and investment methods. The key unobservable inputs used in these valuations are the capitalisation rates and rental yields.
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OCBC ANNUAL REPORT 2017