Samsung 1999 Annual Report Download - page 77
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27. Discontinued operations:
On January 1, 1999, the company sold the refrigerator manufacturing operation of its Kwangju plant to Samsung Kwangju
Electronics Co., Ltd. Components of amounts reflected in the income statement and balance sheet are as follows:
Gain on disposal of discontinued operations:
Millions of Korean Won
Assets 69,406
Liabilities -
Net assets of discontinued operations 69,406
Disposal amount 82,165
Gain on disposal 12,759
Information of discontinued operation for 1998:
Millions of Korean Won
1. Sales 541,867
2. Operating profit 8,800
3. Tangible and intangible assets 111,578
28. Subsequent Events:
On January 11, 2000, the Company established a 50:50 joint venture with Thomson-CSF International. Pursuant to the joint
venture agreement, the Company sold its defense electronics division to the joint venture for 220,000 million, subject to
adjustment upon final resolution of assets and liabilities to be transferred (book value 54,100 million).
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