In this Chapter:—(1) "carrying amount" means, for an applicant, the amount at which an asset is recognised in the most recent audited consolidated balance sheet of the group as disclosed in the listing document after deducting any accumulated depreciation (amortisation) and accumulated impairment losses. For an issuer, the amount at which an asset is recognised in its latest published audited consolidated accounts or latest published interim report (whichever is more recent) after deducting any accumulated depreciation (amortisation) and accumulated impairment losses;
Note: If an acquisition is made after the latest consolidated audited accounts, the acquisition cost should be used.(2) "property activities" mean holding (directly or indirectly) and/or development of properties for letting or retention as investments, or the purchase or development of properties for subsequent sale, or for subsequent letting or retention as investments. It does not include holding of properties for own use;
Notes:1 Any other property interest is classified as "non-property activities".2 The listing document date must be used as the timing reference point to categorise a property interest into property activity or non-property activity.(3) "property" means land and/or buildings (completed or construction in progress). Building includes fittings and fixtures. "Property interest" means an interest in the property;
Note: Fittings and fixtures include building services installation such as plumbing and pipes, electrical instalments, ventilation systems, escalators and improvements generally. Equipment and machinery used for production should be excluded.
A property interest may comprise:(1) one or more units in the same building or complex;(2) one or more properties located at the same address or lot number;(3) one or more properties comprising an integrated facility;(4) one or more properties, structures or facilities comprising a property development project (even if there are different phases);(5) one or more properties held for investment within one complex;(6) one or more properties, structures or facilities located contiguously to each other or located on adjoining lots and used for the same or similar operational/ business purposes; or(7) a project or phases of development presented to the public as one whole project or forming a single operating entity.(4) "total assets" means, for an applicant, the total fixed assets, including intangible assets, plus the total current and non-current assets, as shown in the latest audited consolidated financial statements in the accountants' report in the listing document. For an issuer, total assets has the same meaning as in Chapter 19.