Creative 2010 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
2010 2009 2010 2009
US$’000 US$’000 US$’000 US$’000
Listed equity securities 22,530 15,470 – –
Unlisted equity securities 11,365 12,283 – –
33,895 27,753 – –
The Group has recognised impairment losses of US$1,079,000 (2009: US$13,374,000) against securities whose fair values
were below cost during the nancial year.
16. OTHER NON-CURRENT RECEIVABLES
Group Company
2010 2009 2010 2009
US$’000 US$’000 US$’000 US$’000
Loan to non-related party (Note 14) – 4,254 – 4,254
Loan to associated company 582 977 – -
582 5,231 – 4,254
Less: Allowance for impairment of
loan to non-related party (Note 7) – (4,254) – (4,254)
582 977 – –
The loan to an associated company is unsecured and interest-free with no xed repayment terms.
Management has assessed the fair values of other non-current receivables and concluded that the fair values as at balance
sheet date approximate carrying values.
17. INVESTMENTS IN SUBSIDIARIES
Company
2010 2009
US$’000 US$’000
Equity investments at cost
Beginning of nancial year 248,854 248,990
Additions – 138
Liquidations / disposals (768) (274)
End of nancial year 248,086 248,854
Accumulated impairment
Beginning of nancial year (203,464) (203,464)
Write-o 768 –
End of nancial year (202,696) (203,464)
Net carrying value at end of nancial year 45,390 45,390
In the nancial year ended 30 June 2009, the Group acquired the remaining 51.2% interest in Qmax Pte Ltd for a consideration
of US$1,162,000 in cash and US$511,000 in shares of Qala Singapore Pte Ltd, additional 14.3% interest in Grandeye Limited
for a cash consideration of US$668,000 and 100% of Creative Knowledge Limited for a cash consideration of US$4,000.
notes to tHe fInAncIAl stAteMents
– For the nancial year ended 30 June 2010
15. FINANCIAL ASSETS, AVAILABLE-FOR-SALE (cont’d)