Asus 2007 Annual Report Download - page 122
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118
ASUSTEK COMPUTER INC.
Notes to Non-Consolidated Financial Statements (Unaudited)
(In New Taiwan thousand dollars unless otherwise stated)
34
(12)The Company incurred other related party transactions and included under other
expenses such as rental expense, service charges and miscellaneous expense, during the
three-month period ended March 31, 2007, amounted to $56,038 thousand.
The Company incurred other related party transactions and included under
non-operating incomes/(expenses) and gains/(losses) such as other income during the
three-month periods ended March 31, 2008 and 2007, amounted to $62,362 thousand
and $72,972 thousand, respectively.
(13)As of March 31, 2008, the amount of related party transactions recorded as other assets
and liabilities such as prepayments and receipts in advance amounted to $5,600
thousand and $40,774 thousand, respectively.
As of March 31, 2007, the amount of related party transactions recorded as other assets
and liabilities such as prepayments, refundable deposits, temporary payments, receipts in
advance and deposits received amounted to $2,085 thousand, $1,140 thousand, $100
thousand, $332,520 thousand and $1,075 thousand, respectively.
(14)In order to enhance competitiveness and boost productivity, the Company’s
shareholders resolved, on October 30, 2007, to restructure the Company’s business into
own-brand and OEM. The date for the spin-off is set to commence on January 1, 2008.
According to the resolution, the Company transfers its computer OEM business, with
estimated value of $70,000,000 thousand to its newly established subsidiary, Pegatron
Corporation, by subscribing 1,600,000,000 newly issued shares at $43.75 dollars per
share of Pegatron Corporation. In addition, the Company transfers its non-computer
related OEM business and machine hull and molding tool R&D business with estimated
value of $12,000,000 thousand to its newly established subsidiary, Unihan Corporation,
by subscribing 800,000,000 newly issued shares at $15 dollars per share of Unihan
Corporation. The plan has been approved by the relevant authorities. The
registration of changes was completed in January 2008. The following is a list of
assets and liabilities for the spin-off:
Pegatron
Corporation
Unihan
Corporation Total
Assets
Current assets $21,999,830 $12,555,287 $34,555,117
Long-term investments 66,867,161 7,060,209 73,927,370
Property, plant and
equipment
4,761,981 127,143 4,889,124
Other assets 353,066 126,822 479,888
Total 93,982,038 19,869,461 113,851,499
Liabilities
Current liabilities (23,982,038) (7,869,461) (31,851,499)
Total (23,982,038) (7,869,461) (31,851,499)
Net Assets $70,000,000 $12,000,000 $82,000,000