Creative 2009 Annual Report Download - page 40

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40
CREATIVE฀TECHNOLOGY฀LTD฀AND฀ITS฀SUBSIDIARIES
18. PROPERTY AND EQUIPMENT
฀ ฀ ฀ ฀ ฀
฀ ฀ Furniture,฀
฀ ฀ ฀ ฀ ฀ ฀ Machinery฀ fixtures
฀ Freehold฀ Leasehold฀ Leasehold฀ ฀ and฀ and฀office
฀ land฀ land฀ improvements฀ Building฀ equipment฀ equipment฀ Total
฀ US$’000฀฀ US$’000฀฀ US$’000฀฀ US$’000฀฀ US$’000฀฀ US$’000฀฀ US$’000
฀
฀ Group
฀ 2009
฀Cost
฀ Beginning฀of฀financial฀year฀ 2,625฀ 430฀ 10,933฀ 25,432฀ 34,323฀ 68,708฀ 142,451
฀ Acquisition฀of฀subsidiaries฀(Note฀17)฀ –฀ –฀ –฀ –฀ 6,082฀ 231฀ 6,313
฀ Additions฀ –฀ –฀ 1,083฀ –฀ 890฀ 1,327฀ 3,300
฀ Disposal฀of฀subsidiary฀(Note฀17)฀ –฀ –฀ –฀ –฀ (2,063)฀ (286)฀ (2,349)
฀ Disposals฀ –฀ –฀ (606)฀ –฀ (5,223)฀ (8,841)฀ (14,670)
฀ End฀of฀financial฀year฀ 2,625฀ 430฀ 11,410฀ 25,432฀ 34,009฀ 61,139฀ 135,045
฀Accumulated฀depreciation฀฀ ฀฀฀฀฀฀
฀ Beginning฀of฀financial฀year฀ –฀ 46฀ 8,361฀ 7,319฀ 29,078฀ 63,404฀ 108,208
฀ Depreciation฀charge฀ –฀ 9฀ 963฀ 934฀ 3,461฀ 2,893฀ 8,260
฀ Disposal฀of฀subsidiary฀(Note฀17)฀ –฀ –฀ –฀ –฀ (1,018)฀ (226)฀ (1,244)
฀ Disposals฀ –฀ –฀ (581)฀ –฀ (4,984)฀ (8,558)฀ (14,123)
฀ End฀of฀financial฀year฀ –฀ 55฀ 8,743฀ 8,253฀ 26,537฀ 57,513฀ 101,101
฀Net฀book฀value
฀ End฀of฀financial฀year฀2,625฀ 375฀ 2,667฀ 17,179฀ 7,472฀ 3,626฀ 33,944
฀ Group
฀ 2008
฀Cost
฀ Beginning฀of฀financial฀year฀ 2,625฀ 3,663฀ 11,823฀ 101,080฀ 57,990฀ 82,029฀ 259,210
฀ Additions฀ –฀ –฀ 2,318฀ 6,100฀ 926฀ 3,242฀ 12,586
฀ Disposal฀of฀subsidiaries฀(Note฀17)฀ –฀ (3,233)฀ (1,008)฀ (24,696)฀ (20,600)฀ (3,821)฀ (53,358)
฀ Disposals฀ –฀ –฀ (2,200)฀ (57,052)฀ (3,993)฀ (12,742)฀ (75,987)
฀ End฀of฀financial฀year฀ 2,625฀ 430฀ 10,933฀ 25,432฀ 34,323฀ 68,708฀ 142,451
฀Accumulated฀depreciation฀ ฀฀฀฀฀฀
฀ Beginning฀of฀financial฀year฀ –฀ 242฀ 10,657฀ 32,063฀ 43,659฀ 74,893฀ 161,514
฀ Depreciation฀charge฀ –฀ 9฀ 607฀ 3,256฀ 2,163฀ 3,685฀ 9,720
฀ Disposal฀of฀subsidiaries฀(Note฀17)฀ –฀ (205)฀ (684)฀ (3,751)฀ (13,176)฀ (2,730)฀ (20,546)
฀ Disposals฀ –฀ –฀ (2,219)฀ (24,249)฀ (3,568)฀ (12,444)฀ (42,480)
฀ End฀of฀financial฀year฀ –฀ 46฀ 8,361฀ 7,319฀ 29,078฀ 63,404฀ 108,208
฀
฀Net฀book฀value
฀ End฀of฀financial฀year฀ 2,625฀ 384฀ 2,572฀ 18,113฀ 5,245฀ 5,304฀ 34,243
In June 2008, the Group sold its headquarters office building to an unrelated third party at a sales price of US$181,447,000
which was derived on an arms length basis, supported by a valuation of the property carried out by an independent assessor.
Under the terms of the sale and purchase agreement, the Group also agreed to leaseback the property for a period of five
years with an option for additional periods of three and two years.
NOTES TO THE FINANCIAL STATEMENTS
– For the financial year ended 30 June 2009
AR09 pg1-64_Final.indd 40 10/2/2009 10:38:09 AM