120 / 203
119
3. INVESTMENT PROPERTY
Group
2018
2017
R'000
R'000
Opening net book amount
381 869
356 469
Additions
43 441
3 816
Revaluation (deficit)/surplus
(16 770)
21 584
Net carrying value at end of year
408 540
381 869
Investment properties were valued using the discounted cash flow of future income streammethod. Investment
property is carried at fair value and is classified as level 3 in terms of the IFRS 13 hierarchy.
Investment property under construction is carried at cost.
4. INTANGIBLE ASSET – SOFTWARE DEVELOPMENT COSTS
Group
2018
2017
R'000
R'000
Cost beginning of year
238 680
205 739
Accumulated amortisation beginning of year
(148 739)
(132 552)
Net carrying value at beginning of year
89 941
73 187
Opening net carrying value
89 941
73 187
Additions
53 382
35 865
Obsolete: Cost
(105 542)
(2 924)
Obsolete: Accumulated amortisation
105 542
2 924
Amortisation
(21 552)
(19 111)
Closing net carrying value
121 771
89 941
Cost
186 520
238 680
Accumulated amortisation
(64 749)
(148 739)
Net carrying value at end of year
121 771
89 941