NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
24 NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (CONT’D)
Disposal group classified as held for sale
(cont’d)
The effects of the sale are as follows:
Group
2014
2013
BCL Group
Hospitality
assets and
business
$’000
$’000
Net (liabilities)/assets disposed/disposal group classified as held for sale
(6,560)
441,219
Realisation of translation reserves
6,401
(1,463)
De-recognition of non-controlling interest
7,940
–
Total sale proceeds
(1,259)
(447,344)
Loss/(Gain) on sale recognised in profit or loss of the Group
6,522
(7,588)
Realisation of revaluation reserves
(927)
(130,007)
Reversal on deferred tax liabilities
–
(25,784)
Gain on sale directly charged to equity of the Group
(927)
(155,791)
The cash inflow arising on sale is as follows:
Total sale proceeds
1,259
447,344
Less: non-cash consideration and adjustments
(750)
(52,944)
Consideration settled in cash
509
394,400
Less: cash and cash equivalents of subsidiaries disposed
(292)
(14,160)
Net cash inflow
217
380,240
124
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
