Creative 2009 Annual Report Download - page 39

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39
CREATIVE฀TECHNOLOGY฀LTD฀AND฀ITS฀SUBSIDIARIES
The aggregate cash outflows arising from the disposal of Qala Singapore Pte Ltd in 2009 were:
฀ ฀ Group฀
฀ US$’000
฀ ฀
฀ Identifiable฀net฀assets฀disposed฀(as฀above)฀ 509
฀ Gain฀on฀disposal฀ 39
฀ Exchange฀difference฀ (37)
฀ Shares฀received฀in-lieu฀of฀cash฀ (511)
฀ ฀ –
฀ Less:฀Cash฀and฀cash฀equivalents฀in฀subsidiary฀disposed฀ (270)
฀ Net฀cash฀outflow฀on฀disposal฀ (270)
In the financial year ended 30 June 2008, the Group disposed of its 80.1% interest in Cubic Electronics Sdn Bhd for a
cash consideration of US$10,580,000, 100% interest in Creative Future Computer Co., Ltd for a cash consideration of
US$1,757,000, 50.1% interest in Creative Knowledge Limited for a cash consideration of US$1,712,000 and 51.2% interest
in IDC Pte Ltd for a consideration of 7,500 ordinary shares in Qmax Pte Ltd, valued at S$2.00 per ordinary share.
The aggregate effects of the disposal of subsidiaries on the cashflows of the Group in the financial year ended 30 June 2008
were:
฀ ฀ Group
฀ ฀ Disposal
฀ ฀ Carrying฀฀
฀ amount฀
฀US$’000
฀ 2008
฀Identifiable฀assets฀and฀liabilities฀
฀ Cash฀and฀cash฀equivalents฀ 5,155
฀ Trade฀receivables฀ 1,711
฀ Inventories฀ 31,761
฀ Other฀current฀assets฀฀ 1,660
฀ Property฀and฀equipment฀(Note฀18)฀ 32,812
฀ Total฀assets฀ 73,099
฀ Trade฀and฀other฀payables฀ 63,059
฀ Current฀income฀tax฀liabilities฀ 968
฀ Accrued฀liabilities฀and฀provisions฀ 1,414
฀ Deferred฀income฀tax฀liabilities฀(Note฀24)฀ 1,668
฀ Total฀liabilities฀ 67,109
฀ Identifiable฀net฀assets฀ 5,990
฀ Minority฀interests฀ (914)
฀ Identifiable฀net฀assets฀disposed฀ 5,076
฀ Gain฀on฀disposal฀ 8,984
฀ Shares฀received฀in-lieu฀of฀cash฀ (11)
฀ Cash฀consideration฀received฀ 14,049
฀ Less:฀Cash฀and฀cash฀equivalents฀in฀subsidiaries฀disposed฀ (5,155)
฀ Net฀cash฀inflow฀on฀disposal฀ 8,894
Details of significant subsidiaries are included in Note 36.
AR09 pg1-64_Final.indd 39 10/2/2009 10:38:09 AM