NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
17 SUBSIDIARIES (CONT’D)
Analysis of acquisition of a subsidiary (cont’d):
Acquisition in 2014
(cont’d)
Cash flow effect on acquisition of SL Tin:
Group
2014
$’000
Total consideration for 80% equity interest acquired
195
Less: Cash and cash equivalent of the subsidiary acquired
(9)
Net cash outflow on acquisition
186
Analysis of sale of a subsidiary:
Sale in 2014
Sale of a subsidiary classified as discontinued operation
On 1 June 2014, Malaysia Smelting Corporation Berhad, the Group’s listed subsidiary, entered into a sale and purchase
agreement with PT Bangka Timah Utama and Mr Eddy Dayanto to dispose of its entire interest in PT MSC Indonesia
(“PT MSCI”) for a consideration of USD1. The sale was completed on 2 June 2014. Its results have been reclassified as
discontinued operations and the comparatives have been restated (note 24).
107
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
