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Notes to the Consolidated Financial Statements

For the year ended 31 December 2010

2. Application of new and revised Hong Kong Financial Reporting Standards (HKFRSs)/changes in accounting policies (continued)

Summary of the effect of the changes in accounting policies

The application of the amendment to HKAS 17 Leaseshad no material effect on the results for the current and prior periods and its effect on the financial positions of the Group as at 31 December 2009 and 1 January 2009 are as follows:

Originally

stated

Adjustments

Restated

HK$000

HK$000

HK$000

Property, plant and equipment Prepaid lease payments

Total effects on net assets

31 December 2009

8,168,735

1,706,413

9,875,148

1,706,413

(1,706,413)

9,875,148

  • 9,875,148

Originally

stated

Adjustments

Restated

HK$000

HK$000

HK$000

8,038,660 1,751,184

1,751,184 (1,751,184)

9,789,844

9,789,844

9,789,844

Property, plant and equipment Prepaid lease payments

Total effects on net assets

1 January 2009

At 31 December 2010, leasehold land that qualifies for finance lease classification with the carrying amount of HK$1,660,852,000 has been included in property, plant and equipment.

Great Eagle Holdings Limited

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