RIGHT-OF-USE ASSETS as a lessee Right-of-use assets are recognized at the commencement date of the lease. Right-of-use assets are stated at cost, less any accumulated depreciation and impairment losses (if any), and adjusted for any remeasurement of lease liabilities (if any). The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date, less any lease incentives received. The cost of right-of-use assets also includes an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. Right-of-use assets are calculated by reference to their costs on a straight-line basis over the shorter of the lease term and the estimated useful lives for each of right-of-use assets.
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to lease contracts and the movement for the three- month period ended March 31, 2023 are presented below: Thousand Baht Land and building Vehicle Office equipment Total At cost Balance as at December 31, 2022 88,754 4,708 410 93,872 Addition during the period - 2,967 417 3,384 Write-off during the period - - - - Transfer during the period - (1,956) - (1,956) Balance as at March 31, 2023 88,754 5,719 827 95,300 Accumulated depreciation Balance as at December 31, 2022 (34,142) (2,725) (165) (37,032) Depreciation for the period (3,126) (221) (36) (3,383) Depreciation - write-off - - - - Transfer during the period - 1,403 - 1,403 Balance as at March 31, 2023 (37,268) (1,543) (201) (39,012) Net book value Balance as at December 31, 2022 54,612 1,983 245 56,840 Balance as at March 31, 2023 51,486 4,176 626 56,288 11. INTANGIBLE ASSETS Movements of the intangible assets for the three-month period ended March 31, 2023 were summarized as follows: Thousand Baht At cost Balance as at December 31, 2022 9,428 Acquisitions during the period 535 Disposals and write-off during the period - Balance as at March 31, 2023 9,963 Accumulated amortization Balance as at December 31, 2022 (4,145) Amortization for the period (232) Accumulated amortization on disposals and write-off - Balance as at March 31, 2023 (4,377) Net book value Balance as at December 31, 2022 5,283 Balance as at March 31, 2023 5,586 As at March 31, 2023 and December 31, 2022, the Company had intangible assets which were fully depreciated but they are still in use with gross carrying amount of Baht 0.02 million and Baht 0.02 million, respectively.
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the three-month period ended March 31, 2020 are summarized below. Thousand Baht Consolidated financial statements Separate financial statements Net book value as at December 31, 2019 - - Adjustments of right-of-use assets due to TFRS16 adoption 25,814 12,275 Net book value as January 1, 2020 25,814 12,275 Increase during period - - Depreciation for the period (1,842) (1,175) Net book value as at March 31, 2020 23,972 11,100
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets movement for the nine-month periods ended September 30, 2020 are presented below: Thousand Baht Consolidated financial statements Separate financial statements Land and land improvement Vehicle Total Land and land improvement Vehicle Total Cost Balance as at December 31, 2019 - - - - - - Effects of the adoption of TFRS16 as at January 1, 2020 51,081 844 51,925 - 844 844 Balance as at January 1, 2020 51,081 844 51,925 - 844 844 Addition - - - - - - Written-off - - - - - - Balance as at September 30, 2020 51,081 844 51,925 - 844 844 Accumulated depreciation Balance as at December 31, 2019 - - - - - - Effects of the adoption of TFRS16 as at January 1, 2020 - (158) (158) - (158) (158) Balance as at January 1, 2020 - (158) (158) - (158) (158) Depreciation for the period (990) (126) (1,116) - (126) (126) Depreciation - written-off - - - - - - Balance as at September 30, 2020 (990) (284) (1,274) - (284) (284) Net book value Balance as at December 31, 2019 - - - - - - Balance as at January 1, 2020 51,081 686 51,767 - 686 686 Balance as at September 30, 2020 50,091 560 50,651 - 560 560 16. OTHER INTANGIBLE ASSETS Movements of the other intangible assets for the nine-month periods ended September 30, 2020 were summarized as follows: Thousand Baht Consolidated financial statements Separate financial statements At cost Balance as at December 31, 2019 152,642 115,807 Acquisitions during the period 139 19 Disposals and write-off during the period - - Balance as at September 30, 2020 152,781 115,826 Accumulated depreciation Balance as at December 31, 2019 (98,797) (96,426) Depreciation for the period (1,178) (7) Accumulated depreciation on disposals and write-off - - Balance as at September 30, 2020 (99,975) (96,433) Allowance for impairment of assets Balance as at December 31, 2019 (19,365) (19,365) Loss on impairment of asset for the period - - Balance as at September 30, 2020 (19,365) (19,365) Net book value Balance as at December 31, 2019 34,480 16 Balance as at September 30, 2020 33,441 28 As at September 30, 2020 and December 31, 2019, the Company and its subsidiaries had intangible assets which were fully depreciated but they are still in use with gross carrying amount of Baht
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the three-month period ended March 31, 2022 are summarized below. In Thousand Baht Consolidated Financial Statements Separate Financial Statements Cost As at January 1, 2022 533,104 527,041 Increase during for the period 4,161 - Amortization for the period (1,179) (1,179) As at March 31, 2022 536,086 525,862 Accumulated depreciation As at January 1, 2022 (84,879) (82,419) Depreciation for the period (6,681) (6,098) Amortization for the period 442 442 As at March 31, 2022 (91,118) (88,075) Net book value As at January 1, 2022 448,225 444,622 As at March 31, 2022 444,968 437,787 12. LEASEHOLD RIGHTS Leasehold rights arise from the Company entered into the lease agreements with third parties for developing and constructing projects of residential. Movements of the leasehold rights during the three-month period ended March 31, 2022 were as follows : In Thousand Baht Consolidated / Separate Financial Statements As at March 31, 2022 Net book value, beginning 1,687,004 Add Increase 37,777 Less Decrease - Net book value, ending 1,724,781 In Thousand Baht Consolidated / Separate Financial Statements As at March 31, 2022 As at December 31, 2021 Leasehold rights consist of : Expense under contracts 492,540 488,013 Construction in process 1,232,241 1,198,991 Total 1,724,781 1,687,004 In Thousand Baht Consolidated / Separate Financial Statements For the three-month period ended March 31, 2022 2021 Depreciation and interest expense capitalized expense under contracts 4,532 4,598 Finance costs capitalized construction in process 23,462 22,407 13. INTEREST-BEARING LIABILITIES
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to fixed asset and the movement for the nine- month period ended September 30, 2021 are presented below. Baht Consolidated financial statements / Separate financial statements Cost As at December 31, 2020 105,099,557 Addition 442,996 Written-off - As at September 30, 2021 105,542,553 Accumulated depreciation As at December 31, 2020 (131,253) Depreciation for the period (8,357,739) Depreciation - written-off - As at September 30, 2021 (8,488,992) Net book value As at December 31, 2020 104,968,304 As at September 30, 2021 97,053,561
RIGHT-OF-USE ASSETS. Movements of right-of-use assets are summarised below. In Thousand Baht Consolidated financial statements Separate financial statements (For the three- month period) (For the year) (For the three- month period) (For the year) Net book value beginning 45,482 47,537 40,220 40,227 Addition at cost - 14,616 - 11,536 Arise from the business acquisition - 2,824 - - Depreciation (3,335) (13,028) (3,078) (11,543) Change in conditions/Write-off - (6,467) - - Net book value ending 42,147 45,482 37,142 40,220 The Group lease assets including land, office buildings and motor vehicles of which average lease term during 4 - 6 years.
RIGHT-OF-USE ASSETS. Movements of the right-of-use assets account during the six-month period ended June 30, 2020, are summarized below. In Thousand Baht Consolidated/ Separate Financial Statements Net book value as at January 1, 2020 - Adjustments of right-of-use assets due to TFRS16 adoption 13,424 Increase during period 434 Depreciation for the period (1,491) Net book value as at June 30, 2020 12,367 16. INTANGIBLE ASSETS Movements of the intangible assets account for the six-month period ended June 30, 2020, are summarized as follows: In Thousand Baht At cost Consolidated Financial Statements Separate Financial Statements Balance as at December 31, 2019 12,685 12,556 Add Acquisitions during the period 27 27 Less Disposals and write-off during the period - - Balance as at June 30, 2020 12,712 12,583 Less Accumulated amortization Balance as at December 31, 2019 (8,032) (8,028) Add Amortization for the period (420) (407) Less Disposals and write-off during the period - - Balance as at June 30, 2020 (8,452) (8,435) Net book value Balance as at December 31, 2019 4,653 4,528 Balance as at June 30, 2020 4,260 4,148
RIGHT-OF-USE ASSETS. The net book value of right-of-use assets related to building and building improvement and the movement for the six-month period ended June 30, 2023 are presented below. Cost Baht Consolidated financial statements / Separate financial statements As at December 31, 2022 105,757,284 Addition - Written-off - Transfer in (Transfer out) (14,507,934) As at June 30, 2023 91,249,350 Accumulated depreciation As at December 31, 2022 (22,515,247) Depreciation for the period (4,901,200) Depreciation - written-off - Transfer in (Transfer out) 2,901,587 As at June 30, 2023 (24,514,860) Net book value As at December 31, 2022 83,242,037 As at June 30, 2023 66,734,490 The Company and its subsidiary lease several assets including office building which lease term 10 years, warehouse which lease term 3 years and equipment of which lease term 4 years.
RIGHT-OF-USE ASSETS. During the six months ended 30 June 2020, there was no transfer from investment properties to right-of-use assets (2019: RMB8 million). During the six months ended 30 June 2020, there was no transfer from right-of-use assets to investment properties (2019: RMB16 million after revaluation). 16. INVENTORIES 30.6.2020 31.12.2019 RMB million RMB million (unaudited) (audited) Food and beverage Other consumables 3 24 4 23 27 27 17. TRADE AND OTHER RECEIVABLES 30.6.2020 31.12.2019 RMB million XXX xxxxxxx (xxxxxxxxx) (xxxxxxx) Xxxxx xxxxxxxxxxx 00 00 Deposits and prepayments 8 15 Advance to suppliers 14 10 Interest receivables 46 30 Other receivables 37 36 195 120 60 HUI XIAN REAL ESTATE INVESTMENT TRUST NOTESTOTHECONDENSEDCONSOLIDATEDFINANCIALSTATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2020 17. TRADE AND OTHER RECEIVABLES (Continued) Aging analysis of the Group’s trade receivables by invoice dates at the end of the reporting period is as follows: 30.6.2020 31.12.2019 RMB million RMB million (unaudited) (audited) Less than or equal to 1 month 1–3 months Over 3 months 45 29 16 16 7 6 90 29 18. BANK BALANCES AND CASH 30.6.2020 31.12.2019 RMB million RMB million (unaudited) (audited) Cash at bank or on hand Time deposits (with original maturity of three months or less) 2,186 744 1,817 2,552 Cash and cash equivalents Time deposits (with original maturity of more than three months) 2,930 3,688 4,369 2,438 6,618 6,807 INTERIM REPORT 2020 61 NOTESTOTHECONDENSEDCONSOLIDATEDFINANCIALSTATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2020 19. TRADE AND OTHER PAYABLES 30.6.2020 31.12.2019 RMB million RMB million (unaudited) (audited) Trade payables Receipts in advance (Note (i)) Others (Note (ii)) 106 159 123 136 223 156 388 515 Notes:
