Yinson Annual Report 2019

159 Yinson Group Overview Strategy and Sustainability Governance Accountability Annual General Meeting 16. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) Motor *Other vehicles assets Total Company RM’000 RM’000 RM’000 Accumulated depreciation At 1 February 2017 324 921 1,245 Charge for the financial year 116 777 893 Disposals – (924) (924) Written off – (19) (19) At 31 January 2018 and 1 February 2018 440 755 1,195 Charge for the financial year 67 1,261 1,328 Disposals (352) – (352) At 31 January 2019 155 2,016 2,171 Net carrying amount At 31 January 2018 717 3,814 4,531 At 31 January 2019 173 2,733 2,906 * Other assets comprise office equipment, computers, signboard, renovation, electrical installation and furniture and fittings. (a) Additions to property, plant and equipment which were acquired during the financial year were as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Cash payment 789,066 443,489 180 4,168 Movement in property, plant and equipment creditors 60,107 61,834 – – Finance leases 1,979 – – – 851,152 505,323 180 4,168 (b) The carrying amounts of property, plant and equipment pledged to financial institutions for banking facilities granted to the Group and lease assets pledged to the related finance lease liabilities as disclosed in Note 32 and Note 33(b) at reporting date were as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 Vessels and barges 4,450,255 4,209,844 – – Motor vehicles 2,786 1,644 – 717 4,453,041 4,211,488 – 717 (c) The Group’s plant and equipment include borrowing costs arising from bank loans borrowed specifically for the purpose of the construction of a vessel. During the financial year, the borrowing costs capitalised as cost of plant and equipment amounted to RM10,376,000 (2018: RM52,923,000). (d) The FPSO contracts include options for the charterers to purchase the respective FPSO vessels or to extend their charter periods beyond the initial firm lease period. The purchase option values are based on declining agreed prices, which are in excess of the current net book values of the FPSO vessels as at the reporting date.