NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
17 SUBSIDIARIES (CONT’D)
Analysis of sale of a subsidiary: (cont’d)
Sale in 2014
(cont’d)
Sale of a subsidiary classified as discontinued operation (cont’d)
The sale had the following effects on the financial position of the Group as at 31 December 2014:
Group
2014
$’000
Assets:
Property, plant and equipment (note 14)
616
Inventories
182
Trade and other receivables
1,317
Cash and cash equivalents
9
2,124
Liabilities:
Provisions (note 31)
(40)
Deferred tax liabilities
(43)
Trade and other payables
(2,120)
(2,203)
Net liabilities disposed
(79)
Realisation of translation reserve
(61)
Gain on sale recognised in profit or loss of the Group
(140)
Realisation of revaluation reserve
(41)
Gain on sale directly charged to equity of the Group
(41)
Cash and cash equivalents of the subsidiary disposed
(9)
Net cash outflow
(9)
108
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
