33 FAIR VALUE OF ASSETS AND LIABILITIES
(continued)
(c) Level 3 fair value measurements
(i) Reconciliation of Level 3 fair value
The following table presents the reconciliation from the beginning balances to the
ending balances for Level 3 fair values.
Group
Trust
$’000
$’000
Serviced residence properties
Balance at 1 January 2014
3,177,020
556,392
Acquisition of subsidiaries and serviced residence
properties
546,441
–
Capital expenditure
34,816
526
Transfer from plant and equipment
734
125
Translation difference
(76,156)
–
Balance at 31 December 2014
3,682,855
557,043
Gains and losses for the year
Net change in fair value recognised in statement of
total return
57,203
1,650
Assets written off
(16,022)
–
Balance at 31 December 2014
3,724,036
558,693
Group
$’000
Assets held for sale
Balance at 1 January 2014
87,033
Disposal of assets held for sale
(5,457)
Balance at 31 December 2014
81,576
Gains and losses for the year
Net change in fair value recognised in statement of total return
5,827
Balance at 31 December 2014
87,403
Notes to the Financial Statements
Year ended 31 December 2014
198 | Ascott Residence Trust Annual Report 2014
