Annual Report 2011 年 報 - Neo-Neon LED Lighting International Ltd

NotES to tHE CoNSoLIDAtED
fINANCIAL StAtEMENtS
33. PURCHASE OF SUBSIDIARIES
(a)
In December 2010, the Group acquired 60% equity interest of American Lighting, for a consideration
of US$5,040,000. This acquisition has been accounted for using the acquisition method. American
Lighting is engaged in the design, manufacture, and distribution of quality LED products. The
acquisition was made to expand the LED operation and support the growth strategies of the Group.
Consideration transferred
US$’000
Shown as
HK$’000
Cash 5,040 39,284
Acquisition-related costs amounting to HK$198,000 have been excluded from the consideration
transferred and have been recognised as an expense in the current year, within the administrative
expenses line item in the profit or loss.
Assets acquired and liabilities recognised at the date of acquisition are as follows:
US$’000
Shown as
HK$’000
Property, plant and equipment 335 2,611
Intangible assets – customer relationship 467 3,640
Intangible assets – trademarks 1,667 12,993
Intangible assets – patents 521 4,061
Intangible assets – non-compete agreement 480 3,741
Inventories 1,904 14,841
Trade and other receivables 1,720 13,407
Bank balances and cash 135 1,052
Trade and other payables (1,242) (9,681)
Deferred taxation (1,077) (8,395)
4,910 38,270
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NEO-NEON HOLDINGS LIMITED