Singapore Press Holdings annual report 2011 Singapore Press ...

Notes to the
Financial StatementS
August 31, 2011
136 Singapore Press Holdings annual report 2011
15. INTANGIBLE ASSETS (CONT’D)
(c)
Acquired separately
- Technology and licences
Group
2011 2010
S$’000 S$’000
Cost
Beginning and end of financial year 1,804 1,804
Accumulated amortisation
Beginning of financial year 661 301
Amortisation charge [Note 25] 361 360
End of financial year 1,022 661
Net book value 782 1,143
(d)
Impairment of goodwill
During the financial year, the Group recognised an impairment charge of S$1.1 million (2010: S$1.3
million) within “Other operating expenses” in the income statement. The goodwill was allocated to
the Group’s cash-generating unit (“CGU”) identified as a subsidiary. The recoverable value of the
CGU was determined based on fair value less cost to sell. The fair value was computed by applying
appropriate earnings multiples to the latest available financial forecasts.
16. INVENTORIES
Group
Company
2011 2010 2011 2010
S$’000 S$’000 S$’000 S$’000
Raw materials and consumable stores 38,091 27,511 36,845 26,673
Allowance for write-down of inventories (774) (537) (752) (519)
37,317 26,974 36,093 26,154
The cost of inventories recognised as an expense and included in materials, consumables and broadcasting
costs in the income statement amounted to S$119.8 million (2010: S$108.0 million).
During the financial year, the Group made an allowance for stock obsolescence amounting to S$237,000
(2010: S$9,000). In the previous financial year, the Group also wrote off inventories totalling S$9,000.