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| Notes
to the Financial Statements |
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| (a)
The cost of fully depreciated assets as at 31 December 1999
is Rs. 3,346 million (1998 - Rs. 1,512 million). |
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| (b)
Borrowing costs capitalised during the year to 31
December 1999 were Rs. 490 million (1998 - Rs. 691
million). No assets have
been mortgaged or pledged as security by SLTL. |
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(c)
The value of property, plant & equipment includes
capitalised borrowing costs. The cost and net book
value of such borrowing
costs are as follows: |
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1999 |
1998 |
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Rs.million |
Rs.million |
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---------------- |
---------------- |
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Cost |
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3,386
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2,896
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Accumulated
depreciation |
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(738)
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(471)
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---------------- |
---------------- |
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Net
book value |
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2,648
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2,425
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---------------- |
---------------- |
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(d)
The cost of property, plant & equipment also includes
Rs. 2,437 million (1998 - Rs. 2,707 million), being
the net book value of
customs duty waivers granted to SLTL on the import
of equipment for the 150,000 Line Project to 31
December 1999 (refer note
22).
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(e)
The Directors believe SLTL has freehold title to
land and buildings transferred from SLT on incorporation
(conversion of SLT to
SLTL on 25 September 1996), although it is uncertain
whether vesting orders specifying all the demarcations
and extents of such
land and buildings were issued.
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(f)
The property, plant & equipment is not insured except
for third party motor vehicle insurance. An insurance
reserve has been created together
with a sinking fund investment to meet a future
loss with regard to uninsured property, plant &
equipment. At the balance sheet
date, Rs. 62 million stood to the credit of the
reserve and is included under provisions (note 18).
The sinking fund investment of that amount is included
under cash & cash equivalents (note 13 (a)).
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9.
Investments
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Group |
Company |
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---------------- |
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1999 |
1998 |
1999 |
1998 |
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|
Rs.million |
Rs.million |
Rs.million |
Rs.million |
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---------------- |
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Investment
in Subsidiary [note (a)]
|
- |
- |
25 |
25 |
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Investment
in Associate Company [note (b)]
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At
1 January |
322 |
319
|
259 |
259 |
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Share
of profits |
27
|
3
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-
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-
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At
31 December |
349
|
322
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259
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259
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---------------- |
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Investment
in others [note (c)] |
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At
1 January |
455
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383
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455
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383
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Additions |
68
|
72
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68
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72
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---------------- |
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At
31 December |
523
|
455
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523
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455
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Aggregate
value of investments at 31 December |
872
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777
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807
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739
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On-Line
Annual Report by Smart Media Productions
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