Notes to Fina - æå³¶æ°èéå

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ncial Statements 37. NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT (continued) 37. (c) Summary of effects of disposal of subsidiaries (c) and discontinued operations (continued) An analysis of the net inflow of cash and cash equivalents in respect of the disposal of subsidiaries and discontinued operations is as follows: Year ended 31 December 2002 HK$’000 Cash consideration, net of expenses 536,088 Cash and bank balances disposed of (124,699) 411,389 Global China Group Holdings Limited Annual Report 2002 151
Notes to Fina Notes to Financial Statements 31 December 2002 37. NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT (continued) 37. (c) Summary of effects of disposal of subsidiaries (c) and discontinued operations (continued) * On 3 July 2002, the Group disposed of its 74.5% * equity interests in Sing Tao Holdings Limited to Ming Yuan Ming Yuan Investments Group Limited, an Investments Group Limited independent third party, for a total consideration 163,800,000Sing Tao of HK$163,800,000 (the “Disposal”). The Holdings Limited74.5% completion of the Disposal was conditional upon certain conditions, one of which was the completion of the distribution of the entire issued Sing Tao Holdings share capital of Sing Tao Media, one of the then LimitedSing Tao wholly-owned subsidiaries of Sing Tao Holdings MediaSing Tao Limited which was also the then holding company Holdings Limited of the subsidiaries engaging in the Group’s Sing Tao Holdings publishing and media business, by way of a Limited special interim dividend in specie in the proportion of one ordinary share of Sing Tao Media Sing Tao for every ordinary share of Sing Tao Holdings Media Limited (the “Distribution”). Immediately after the Distribution, the Group’s equity interests in Sing Tao Media Sing Tao Media remained at 74.5% and the assets 74.5%Sing Tao of Sing Tao Holdings Limited primarily comprised Holdings Limited non-media-related properties in Hong Kong, the Mainland China and Canada and cash. The Distribution was completed on 21 August 2002 and had no significant financial impact to the Group. The Disposal was completed on 23 August 2002 and resulted in a net gain on disposal of 93,352,000 HK$93,352,000. 152 Global China Group Holdings Limited Annual Report 2002
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CONTENTS CONTENTS Global China Gro
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nformation AUDITORS Ernst & Young
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Statement I am also proud to tell
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05 06 07 08 09 05: “Sing Tao Dai
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cussion and Analysis The gearing r
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cussion and Analysis 1. Newspaper
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cussion and Analysis With the acqu
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cussion and Analysis 1. Print Medi
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cussion and Analysis With a view t
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cussion and Analysis Although we h
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04 05 06 07 08 04: China Touch Med
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enior Management Mr. Jia Hong Ping
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enior Management Mr. Yang Yiu Chon
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enior Management Dr. Tong Yuk Lun,
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enior Management Ms. Chan has over
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e Directors SUMMARY FINANCIAL INFOR
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e Directors DIRECTORS The directors
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e Directors DIRECTORS’ INTERESTS
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e Directors Save as disclosed above
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e Directors Following the commencem
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e Directors AUDITORS Ernst & Young
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e Auditors We planned and performe
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fit and Loss Account Period from
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Balance Sheet 2002 2001 Notes H
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ent of Changes in Equity Issued I
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sh Flow Statement Period from 1 A
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sh Flow Statement Period from 1 A
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Balance Sh Balance Sheet 31 Decemb
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ncial Statements 2. IMPACT OF NEW
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ncial Statements 2. IMPACT OF NEW
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ncial Statements 3. SUMMARY OF SI
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ncial Statements 4. SEGMENT INFOR
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ncial Statements 4. SEGMENT INFOR
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ncial Statements 5. TURNOVER, REV
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ncial Statements 7. PROFIT/(LOSS)
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ncial Statements 8. DISCONTINUED
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ncial Statements 10. DIRECTORS’
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ncial Statements 11. FIVE HIGHEST
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ncial Statements 14. EARNINGS/(LO
Page 102 and 103: ncial Statements 15. FIXED ASSETS
Page 108 and 109: ncial Statements 17. GOODWILL AND
Page 110 and 111: ncial Statements 19. INVESTMENT I
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Page 118 and 119: ncial Statements 22. INVESTMENTS
Page 120 and 121: ncial Statements 26. CASH AND CAS
Page 122 and 123: ncial Statements 28. INTEREST-BEA
Page 124 and 125: ncial Statements 30. LONG TERM OT
Page 126 and 127: ncial Statements 33. DEFERRED TAX
Page 128 and 129: ncial Statements 34. SHARE CAPITA
Page 136 and 137: ncial Statements 35. SHARE OPTION
Page 146 and 147: ncial Statements 36. RESERVES (co
Page 148 and 149: ncial Statements 37. NOTES TO THE
Page 156 and 157: ncial Statements 38. CONTINGENT L
Page 158 and 159: ncial Statements 40. OPERATING LE
Page 160 and 161: ncial Statements 41. COMMITMENTS
Page 162 and 163: ncial Statements 42. POST BALANCE
Page 164 and 165: ncial Statements 44. PARTICULARS
Page 170 and 171: ncial Statements 45. COMPARATIVE
Page 172 and 173: ajor Properties Approx. gross Gro
Page 174 and 175: ajor Properties Approx. gross Gro
Page 176 and 177: Notice of Gene Notice of Annual Ge
Page 178 and 179: al General Meeting (d) for the pur
Page 180 and 181: al General Meeting (c) the aggrega
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