I didn't say nothing is capitalised, I said all R&M is expensed through the P&L (not through depreciation) I am only quoting the financial statements (Page 18 of stat accounts released in August: " Repairs and maintenance are recognised in profit or loss as incurred. ") So this explicitly excludes depreciation (as incurred).
Unless you imply their statement is false?
R&M traditionally makes up a significant portion of Capex in anything which involves any degree of automation.
However, again, I am not implying there is no capex.
I didn't say nothing is capitalised, I said all R&M is expensed...
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