Creative 2010 Annual Report Download - page 41

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41
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
The aggregate effects of the acquisition and disposal of subsidiaries on the cashows of the Group in the nancial year
ended 30 June 2009 were:
Group
Acquisition Disposal
Fair value/
carrying amount
in acquiree’s Carrying
books amount
US$’000 US$’000
2009
Identiable assets and liabilities
Cash and cash equivalents 1,173 (270)
Trade receivables 1,635 (999)
Inventories 1,094 (139)
Other current assets 4,487 (564)
Property and equipment (Note 18) 6,313 (1,105)
Intangible assets (Note 19) 1,098 –
Total assets 15,800 (3,077)
Trade payables (14,405) 1,518
Accrued liabilities and provisions (4,991) 687
Deferred income tax liabilities (Note 23) (36) –
Total liabilities (19,432) 2,205
Identiable net liabilities / assets (3,632) (872)
Less: Non-controlling interests – 363
Identiable net liabilities acquired / assets disposed (3,632) (509)
Add: Equity share of losses recorded previously 1,235
Goodwill (Note 19) 4,231
Cash consideration paid 1,834
Less: Currency translation dierences (61)
Less: Cash and cash equivalents in subsidiaries acquired (1,173)
Net cash outow on acquisition 600
The aggregate cash outows arising from the disposal of Qala Singapore Pte Ltd in 2009 were:
Group
US$’000
Identiable net assets disposed (as above) 509
Gain on disposal 39
Currency translation dierences (37)
Shares received in-lieu of cash (511)
–
Less: Cash and cash equivalents in subsidiary disposed (270)
Net cash outow on disposal (270)
Details of signicant subsidiaries are included in Note 34.