NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
102
THE STRAITS TRADING COMPANY LIMITED
18.
SUBSIDIARIES (CONT’D)
Analysis of sale of subsidiaries:
Sale in 2015
The sale of all the shares in Atbara Holdings Private Limited, a wholly owned subsidiary of the Company, to Haiyi Holdings
Pte. Ltd. was completed on 22 April 2015.
The sale had the following effects on the financial position of the Group as at 31 December 2015:
2015
Atbara Holding
Private Limited
$’000
Assets:
Property, plant and equipment (note 15)
72
Investment properties (note 16)
53,778
Trade and other receivables, including prepayments
43
Cash and cash equivalents
71
53,964
Liabilities:
Trade and other payables
(194)
Net assets disposed
53,770
Cash consideration, net of expenses
53,062
Loss on sale recognised in profit or loss of the Group
(708)
Cash and cash equivalents of the subsidiaries disposed
71
Net cash inflow
52,991
