Annual Report 2019

193 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements 14 Intangible assets Passenger service licences and transport operating rights $’ 000 Cost: At 1 January 2018 132,122 Additions 228,497 At 31 December 2018 and 1 January 2019 360,619 Additions 4,345 At 31 December 2019 364,964 Accumulated amortisation: At 1 January 2018, 31 December 2018, 1 January 2019 and 31 December 2019 – Net book value: At 31 December 2019 364,964 At 31 December 2018 360,619 In respect of passenger service licences and transport operating rights of the Group that are regarded as having indefinite useful lives, there is no foreseeable limit to the period over which these assets are expected to generate cash flows for the Group. Intangible assets that are regarded as having indefinite useful lives have been allocated to the cash-generating unit of non-franchised transport operations for the purpose of impairment testing. Details of impairment testing are set out in note 15 to the financial statements.