Creative 2009 Annual Report Download - page 37

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37
CREATIVE฀TECHNOLOGY฀LTD฀AND฀ITS฀SUBSIDIARIES
15. FINANCIAL ASSETS, AVAILABLE-FOR-SALE
฀Group฀ Company
฀ ฀ 2009฀ 2008฀ 2009฀ 2008฀
฀ US$’000฀ US$’000฀ US$’000฀ US$’000
฀ Beginning฀of฀financial฀year฀ 37,247฀ 80,121฀ 405฀ 1
฀ Fair฀value฀gains฀(losses)฀recognised฀in฀equity฀ 3,774฀ (20,863)฀ –฀ –
฀ Additions฀ 202฀ 9,528฀ –฀–฀
Disposals฀ (96)฀ (20,305)฀ –฀ (1)
฀ Reclassification฀of฀investment฀from฀subsidiary฀฀
฀ to฀financial฀assets,฀available-for-sale฀due฀to฀฀฀
฀ dilution฀of฀interest฀฀ –฀ 902฀ –฀ 405
฀ Impairment฀losses฀(Note฀7)฀ (13,374)฀ (12,136)฀ (405)฀ –
฀ End฀of฀financial฀year฀ 27,753฀ 37,247฀ –฀ 405
Available-for-sale financial assets are analysed as follows:
฀Group฀ Company
฀ ฀ 2009฀ 2008฀ 2009฀ 2008฀
฀ US$’000฀ US$’000฀ US$’000฀ US$’000
฀ Listed฀equity฀securities฀ 15,470฀ 26,087฀ –฀ –
฀ Unlisted฀equity฀securities฀ 12,283฀ 11,160฀ –฀ 405
฀ ฀ 27,753฀ 37,247฀ –฀ 405
The Group has recognised impairment loss of US$13,374,000 (2008: US$12,136,000) against securities whose fair values
had been below cost during the financial year.
16. OTHER NON-CURRENT RECEIVABLES
฀Group฀ Company
฀ ฀ 2009฀ 2008฀ 2009฀ 2008฀
฀ US$’000฀ US$’000฀ US$’000฀ US$’000
฀
฀ Loan฀to฀non-related฀party฀(Note฀14)฀ 4,254฀ 9,192฀ 4,254฀ 9,192
฀ Loan฀to฀associated฀company฀ 977฀ 1,700฀ –฀ –
฀ ฀ 5,231฀ 10,892฀ 4,254฀ 9,192
฀ Less:฀Allowance฀for฀impairment฀of฀
฀ loan฀to฀non-related฀party฀(Note฀7)฀฀ (4,254)฀ –฀ (4,254)฀ –
฀ ฀ 977฀ 10,892฀ –฀ 9,192
The loan to an associated company is unsecured and interest free with no fixed repayment terms.
Management has assessed the fair values of other non-current receivables and concluded that the fair values as at balance
sheet date approximate carrying values.
AR09 pg1-64_Final.indd 37 10/2/2009 10:38:09 AM