Creative 2013 Annual Report Download - page 34

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34
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
For the nancial year ended 30 June 2013
5. EMPLOYEE COMPENSATION
Group
2013 2012
US$’000 US$’000
Wages and salaries  54,130
Employer’s contribuon to dened contribuon plans
including Central Provident Fund 3,514 3,977
Employee share-based expense (Note 25)  813
 58,920
6. OTHER INCOME
Group
2013 2012
US$’000 US$’000
Interest income 240 227
Dividend income 203 692
443 919
7. OTHER GAINS (LOSSES), NET
Group
2013 2012
US$’000 US$’000
Gain on disposal of nancial assets, available-for-sale  471
Gain on disposal of investments in subsidiaries 26,750 2,824
Gain on disposal of investments in associated companies – 3,814
Gain (loss) on disposal of property and equipment 707 (368)
Impairment loss on unulised building facilies (Note 14) – (3,598)
Impairment loss of nancial assets, available-for-sale (Note 15)  (3,417)
Impairment loss on property and equipment (Note 18) – (14,748)
Impairment loss on intangible assets (Note 19) – (3,391)
Provisions for commitments and obligaons – (6,489)
Currency translaon losses  (8,120)
Other gains  518
 (32,504)
Gain on disposal of investments in subsidiaries of US$26,750,000 as at 30 June 2013 relates to the divestment of ZiiLABS
Limited, a wholly-owned subsidiary in the United Kingdom, for a cash consideration of US$31,241,000. Gain on disposal of
investments in subsidiaries of US$2,824,000 as at 30 June 2012 relates to the divestment of the Group’s entire 51% equity
interest in Grandeye Limited, for a cash consideration of US$3,500,000.
Impairment loss on property and equipment of US$14,748,000 as at 30 June 2012 relates to a US$12,248,000 impairment
charge by a subsidiary, QMax Communications Pte Ltd (“QMax”), for its wireless broadband project in Singapore which
was suspended during that year, and a US$2,500,000 impairment charge on a building owned by a subsidiary in Ireland to
write down the book value to its estimated net realisable value.
Impairment loss on intangible assets of US$3,391,000 as at 30 June 2012 relates to US$2,262,000 goodwill impairment
charge and US$1,129,000 trademark and licenses impairment charge by QMax for its wireless broadband project.