Urban Renewal Authority 2018-19 Annual Report

146 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 6. Operating surplus before income tax (Continued) Operating surplus before income tax is arrived at after charging/(crediting) the following items: (Continued) (d) Impairment on properties 2019 2018 $’000 $’000 Write back of provision for impairment on property, plant and equipment (41,491) (15,467) Write back of provision for impairment on properties under development (799,835) (510,100) (841,326) (525,567) (e) Other items 2019 2018 $’000 $’000 Interest expenses on debt securities issued 65,840 67,956 Less: Interest expenses capitalised # (65,840) (67,956) – – # The borrowing costs have been capitalised at rates ranging from 1.64% to 3.85% per annum (2017/18: 1.50% to 3.85% per annum).