Page 215 - Hang Lung Properties 2012 Annual Report

31 SIGNIFICANT ACCOUNTING ESTIMATES AND
JUDGMENTS
Key sources of estimation uncertainty
Note 28(b) contains information about the assumptions and their risk
relating to fair value of share options granted. Other key sources of
estimation uncertainty are as follows:
(a) Valuation of investment properties and investment properties
under development
The investment properties and investment properties under
development of the Group were revalued at the end of the reporting
period by independent professionally qualified valuers on a market
value basis. For the completed investment properties, the valuers have
valued such properties with reference to market evidence taking into
account the rental income of the properties. The assumptions adopted
are based on the market conditions existing at the end of the reporting
period, with reference to current market sale prices for similar properties
in the same location and condition and the appropriate capitalization
rate. For the investment properties under development, the valuers
have valued such properties as if they were completed in accordance
with the relevant development plan allowing for any future construction
and other relevant costs required for completion of the development,
and where appropriate, by reference to the comparable market sale
and purchase transactions.
(b) Properties held for sale
The Group determines the net realizable value of unsold properties
based on estimation of future selling price less costs to be incurred
in relation to the sale, with reference to the prevailing market data and
market survey reports available from independent property valuers.
(c) Impairment of assets
The Group tests regularly whether goodwill and other assets that have
indefinite useful lives have suffered any impairment. Other assets are
reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of the asset exceeds its recoverable
amount. The recoverable amount is determined using fair value
less costs to sell or value-in-use calculations as appropriate. These
calculations require the use of estimates.
31 重要會計估計及判斷
估計不確定性之主要原因
附註 28(b) 載有與已授出股份期權公平值有
關之假設及風險之資料。估計不確定性之
其他主要原因如下：
(a) 投資物業及發展中投資物業之估值
於結算日，本集團之投資物業及發展中投
資物業由獨立合資格估值師按公開市值進
行重估。有關已完成之投資物業，估值師
已參照市場實況並考慮物業租金收益作出
估值。於物業估值時採用之假設乃根據結
算日之當時市況，並參考於相同地點及狀
態的同類型物業的當時市場售價及適當之
資本化率而作出。對於發展中投資物業，
估值師估值該等物業猶如已按照相關發展
計劃完成興建並計入未來為完成發展所需
的建築及其他相關成本，亦參照可比較的
市場買賣交易，如適用。
(b) 待售物業
本集團參照獨立物業估值師提供之現行市
場數據及市場調查報告，以估計未來銷售
價減除銷售時產生之相關成本而釐定待售
物業之可變現淨值。
(c) 資產減值
本集團定期進行減值測試，以確定商譽及
其他可使用年期不確定之資產是否有任何
減值跡象。其他資產之減值評估於有事件
或情況之變動顯示有關資產之賬面值高於
其可收回金額時進行。可收回金額以公平
值減銷售成本或按使用價值計算法釐定（如
適用）。該等計算方法需要使用估計數據。
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