NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
116
THE STRAITS TRADING COMPANY LIMITED
25
NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (CONT’D)
Balance sheet disclosures
The major classes of assets and liabilities of discontinued operations and disposal group classified as held for sale and the
related reserves are as follows:
Disposal group classified as held for sale
Group
2014
Shanghai
Straits
Trading
Co., Ltd.
$’000
Assets:
Trade and other receivables
17
Cash and cash equivalents (note 28)
4,502
Assets of disposal group classified as held for sale
4,519
Liabilities:
Trade and other payables
(27)
Liabilities directly associated with disposal group classified as held for sale
(27)
Net assets of disposal group classified as held for sale
4,492
Reserves:
Translation reserve
250
The effects of the sale are as follows:
Group
2015
2014
Shanghai
Straits
Trading
Co., Ltd.
BCL Group
$’000
$’000
Net assets/(liabilities) disposed/disposal group classified as held for sale
4,128
(6,560)
Realisation of translation reserve
(295)
6,401
De-recognition of non-controlling interest
–
7,940
Total sale proceeds
(4,194)
(1,259)
(Gain)/loss on sale recognised in profit or loss of the Group
(361)
6,522
Realisation of revaluation reserves
–
(927)
Gain on sale directly charged to equity of the Group
–
(927)
The cash inflow arising on sale is as follows:
Sale proceeds, net of expenses
4,194
1,259
Less: receivable
–
(750)
Repayment of amount due from subsidiary
419
–
Consideration settled in cash
4,613
509
Less: cash and cash equivalents of subsidiaries disposed
(4,574)
(292)
Net cash inflow
39
217
