Page 84 - TreasuryChinaTrust2011

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Notes to the Financial Statements
4 INVESTMENT PROPERTIES (CONTINUED)
The table below summarises the development costs (excluding land costs and capitalised interest) for projects that
are currently underway.
(in millions)
Approved
budget
Contract committed
at 31 Dec 2011
Expenditure from
inception to
31 Dec 2011
RMB $ RMB $ RMB $
The HQ Extension
(% of approved budget)
883 182 327 67 154 32
17.4%
Beijing International Logistic Park (BLP)
(% of approved budget)
242 50 228 47 184 38
76%
Total 1,125 232 555 114 338 70
A revised budget for The HQ extension was approved in December 2011 for an increase of RMB154 million due to an
expansion of the lettable space, substructure works and increased regulatory requirements from local authorities. The
expected completion date was extended from June 2013 to September 2013.
A loan facility is in place from Industrial and Commercial Bank of China which amounts to RMB800 million for the HQ
extension.
SAR1112034_TCT_AR_().indb 82 3/23/2012