TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
75
Notes to the financial statements
For the financial year ended 31 March 2016
16.
Interest in subsidiaries (cont’d)
(C)
Disposal of a subsidiary (cont’d)
The value of assets and liabilities of PT Ming recorded in the consolidated financial statements as at 30
November 2014, and the effects of the Disposal are as indicated below:
PT Ming
30.11.2014
$
Property, plant and equipment
2,222,012
Security deposit
122,752
Trade receivables
84,978
Other receivables
323,957
Cash and cash equivalents
48,362
Inventories
172,754
Total assets
2,974,815
Shareholder loans
(4,442,284)
Trade payables
(2,253,716)
Other payables and accruals
(506,967)
Total liabilities
(7,202,967)
Net de-consolidated liabilities
(4,228,152)
Cash consideration received
1
Cash and cash equivalents de-consolidated
(48,362)
Net cash outflow on disposal of a subsidiary
(48,361)
Gain on disposal:
Cash consideration received
1
Net liabilities de-consolidated
4,228,152
Capital reserve derecognised
143,007
Non-controlling interest derecognised
(2,166,563)
Gain on disposal of a subsidiary
2,204,597
