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| Note 8 |  |
Owned |
Leased |
|||||||
Land and buildings Rm |
Leasehold improvements Rm |
Network infrastructure Rm |
Information systems, furniture and office equipment Rm |
Vehicles Rm |
Land and buildings* Rm |
Total Rm |
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| 8. | PROPERTY, PLANT AND EQUIPMENT | |||||||
| 8.1 | Analysis of net book amount | |||||||
| At 1 April 2004 | ||||||||
| Cost | 659 |
155 |
14 482 |
1 274 |
105 |
315 |
16 990 |
|
| Accumulated depreciation | (44) |
(89) |
(4 871) |
(740) |
(47) |
(29) |
(5 820) |
|
| Net book amount | 615 |
66 |
9 611 |
534 |
58 |
286 |
11 170 |
|
| 8.2 | Movement in net book amount | |||||||
| Year ended 31 March 2005 | ||||||||
| Opening net book amount | 615 |
66 |
9 611 |
534 |
58 |
286 |
11 170 |
|
| Additions | 298 |
30 |
6 658 |
386 |
70 |
— |
7 442 |
|
| Disposals | (1) |
— |
(7) |
— |
— |
— |
(8) |
|
| Depreciation charge | (49) |
(18) |
(2 373) |
(324) |
(34) |
(15) |
(2 813) |
|
| Exchange differences | 2 |
(2) |
(3) |
(1) |
— |
— |
(4) |
|
| Closing net book amount | 865 |
76 |
13 886 |
595 |
94 |
271 |
15 787 |
|
| Analysis of net book amount | ||||||||
| At 31 March 2005 | ||||||||
| Cost | 1 249 |
185 |
21 109 |
1 615 |
165 |
315 |
24 638 |
|
| Accumulated depreciation | (384) |
(109) |
(7 223) |
(1 020) |
(71) |
(44) |
(8 851) |
|
| Net book amount | 865 |
76 |
13 886 |
595 |
94 |
271 |
15 787 |
|
|
|
|
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| 8.3 | Movement in net book amount | |||||||
| At 31 December 2005 | ||||||||
| Opening net book amount | 865 |
76 |
13 886 |
595 |
94 |
271 |
15 787 |
|
| Additions – business combinations | 40 |
58 |
759 |
100 |
14 |
— |
971 |
|
| Additions | 340 |
53 |
5 318 |
350 |
37 |
340 |
6 438 |
|
| Impairment loss | — |
— |
(147) |
— |
— |
— |
(147) |
|
| Disposals | (37) |
(3) |
(122) |
(2) |
(4) |
— |
(168) |
|
| Depreciation charge | (33) |
(29) |
(2 116) |
(261) |
(37) |
(21) |
(2 497) |
|
| Exchange differences | 23 |
(2) |
259 |
9 |
3 |
— |
292 |
|
| Closing net book amount | 1 198 |
153 |
17 837 |
791 |
107 |
590 |
20 676 |
|
| Analysis of net book amount | ||||||||
| At 31 December 2005 | ||||||||
| Cost | 1 638 |
291 |
27 176 |
2 072 |
215 |
655 |
32 047 |
|
| Accumulated depreciation | (440) |
(138) |
(9 339) |
(1 281) |
(108) |
(65) |
(11 371) |
|
| Net book amount | 1 198 |
153 |
17 837 |
791 |
107 |
590 |
20 676 |
|
| Registers with details of land and buildings are available for inspection by members or their duly authorised representative at the registered offices of the Company and its respective subsidiaries *notes 19, 32 | ||||||||
| 8.4 | Encumbrances MTN Holdings Borrowings by MTN Holdings are secured by land and buildings, the book value of which is R590 million (March 2005: R271 million) (note 19). MTN Nigeria Loans to MTN Nigeria are secured by a fixed charge over the company’s moveable assets, the book value of which is R11 347 million (March 2005: R8 874 million) (note 19). MTN Rwanda The syndicated loan acquired from four local banks and the BPC loan are secured by a floating charge on MTN Rwanda’s property, plant and equipment, the book value of which is R81 million (March 2005: R51,8 million) (note 19). MTN Uganda In terms of the Inter-creditor Security Package, MTN Uganda has provided a first and second fixed charge totalling R70 million (March 2005: R66 million) over its property, plant and equipment as security for a syndicated loan made to MTN Uganda by various banks and financial institutions (note 19). MTN Swaziland Loans from the Swaziland Industrial Development Corporation are secured by notarial bonds over MTN Swaziland’s moveable assets including the network and information system infrastructure, the book value of which is R20,4 million at the end of March 2005 (note 19). MTN Côte d’Ivoire Loans to MTN Côte d’Ivoire are secured by a fixed charge over the company’s network equipment with a book value of R270 million (note 19). |
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