Annual Report 2019

183 ANNUAL REPORT 2019 16. GOODWILL AND INTANGIBLE ASSETS Goodwill Intangible assets Port operating rights Others Total HK$’million HK$’million HK$’million HK$’million (Note (b)) (Note (c)) (Note (d)) Year ended 31 December 2019 As at 1 January 2019 7,922 10,548 584 11,132 Exchange adjustments (991) (531) (99) (630) Addition — 13 — 13 Amortisation (Note (a)) — (271) — (271) As at 31 December 2019 6,931 9,759 485 10,244 As at 31 December 2019 Cost 6,931 11,413 492 11,905 Accumulated amortisation — (1,654) (7) (1,661) Net book value 6,931 9,759 485 10,244 Year ended 31 December 2018 As at 1 January 2018 3,628 5,785 140 5,925 Exchange adjustments (119) (981) — (981) Addition — 24 78 102 Acquisition of subsidiaries (note 40) 4,886 5,977 508 6,485 Amortisation (Note (a)) — (257) (1) (258) Disposal of subsidiaries (note 39) (473) — (141) (141) As at 31 December 2018 7,922 10,548 584 11,132 As at 31 December 2018 Cost 7,922 11,997 590 12,587 Accumulated amortisation — (1,449) (6) (1,455) Net book value 7,922 10,548 584 11,132