notes to the financial statements - Food Empire Holdings Limited
notes to the financial statements - Food Empire Holdings Limited
notes to the financial statements - Food Empire Holdings Limited
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<strong>Food</strong> <strong>Empire</strong> <strong>Holdings</strong> <strong>Limited</strong> Annual Report 2012<br />
NOTES TO THE FINANCIAL STATEMENTS (cont’d)<br />
For <strong>the</strong> year ended 31 December 2012<br />
16. Amount due from an associate (non-current)<br />
Group<br />
2012 2011<br />
US$’000 US$’000<br />
3 years, unsecured long term loan 2,600 2,600<br />
The 3 years loan of US$2,600,000 is unsecured and bears a floating interest rate of 7% per annum during <strong>the</strong> <strong>financial</strong> year.<br />
17. Intangible assets<br />
Goodwill Brand Total<br />
US$’000 US$’000 US$’000<br />
Cost<br />
At <strong>the</strong> beginning and end of <strong>the</strong> year for <strong>financial</strong> year 2012 and 2011 7,390 8,361 15,751<br />
Less: Impairment<br />
At <strong>the</strong> beginning and end of <strong>the</strong> year for <strong>financial</strong> year 2012 and 2011 706 1,702 2,408<br />
Net carrying amount<br />
At 31 December 2012 6,684 6,659 13,343<br />
At 31 December 2011 6,684 6,659 13,343<br />
Impairment testing of goodwill and brand<br />
Goodwill and brand acquired through business combinations have been allocated <strong>to</strong> <strong>the</strong> Group’s cash-generating units (“CGU”)<br />
identified according <strong>to</strong> each individual business unit for impairment testing.<br />
Group<br />
2012 2011<br />
US$’000 US$’000<br />
FER (HK) <strong>Limited</strong> Group 4,797 4,797<br />
FES Industries Pte Ltd 1,887 1,887<br />
Brand 6,659 6,659<br />
13,343 13,343<br />
107
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