Creative 2014 Annual Report Download - page 40

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40
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
Available-for-sale nancial assets are analysed as follows:
Group Company
2014 2013 2014 2013
US$’000 US$’000 US$’000 US$’000
Listed equity securies 13,666 14,059 – –
Unlisted equity securies 7,942 8,595 – –
21,608 22,654 – –
The Group has recognised impairment losses of US$972,000 (2013: US$2,288,000) against securities whose fair values
were below cost during the nancial year.
16. INVESTMENTS IN SUBSIDIARIES
Company
2014 2013
US$’000 US$’000
Equity investments at cost
Beginning of nancial year 227,990 227,990
Liquidaons / disposals (384) –
End of nancial year 227,606 227,990
Accumulated impairment
Beginning of nancial year (199,600) (200,700)
Addions (3,300) –
Write-back / write-o – 1,100
End of nancial year (202,900) (199,600)
Net carrying value at end of nancial year 24,706 28,390
In the nancial year ended 30 June 2014, the Company has disposed its entire 60% equity interest in a subsidiary, MLK
Industry Limited, for a cash consideration of US$163,000.
The impairment loss of US$3,300,000 in the nancial year ended 30 June 2014 reects the write-down of the carrying
amount of the Company’s investment in a wholly-owned subsidiary, Creative Technology Centre Pte Ltd, following the
cessation of the property rental business.
In the nancial year ended 30 June 2013, the Group has disposed its equity interest in a wholly-owned indirect subsidiary,
ZiiLABS Limited, for a cash consideration of US$31,241,000.
NOTES TO THE FINANCIAL STATEMENTS
For the nancial year ended 30 June 2014
15. FINANCIAL ASSETS, AVAILABLE-FOR-SALE (cont’d)