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

NotES to tHE CoNSoLIDAtED
fINANCIAL StAtEMENtS
33. PURCHASE OF SUBSIDIARIES (Continued)
(a)
(Continued)
The fair value of trade and other receivables at the date of acquisition amounted to HK$13,407,000.
The gross contractual amounts of those trade and other receivables acquired amounted to
HK$13,407,000 at the date of acquisition. None of the contractual cash flows are not expected to be
collected at acquisition date.
Goodwill arising on acquisition:
US$’000
Shown as
HK$’000
Consideration transferred 5,040 39,284
Plus: Non-controlling interests
(40% in American Lighting) 1,964 15,308
Less: Net assets acquired (4,910) (38,270)
Goodwill arising on acquisition 2,094 16,322
The goodwill is attributable to the anticipated profitability arising from the distribution of the Group’s
products in the new markets and the future operating synergies from the combination.
None of the goodwill arising on this acquisition is expected to be deductible for tax purposes.
Net cash outflow on acquisition of American Lighting:
US$’000
Shown as
HK$’000
Cash consideration paid 5,040 39,284
Less: Cash and cash equivalent balances acquired (135) (1,052)
4,905 38,232
American Lighting contributed a revenue of HK$36,110,000 and a loss of HK$1,153,000 for the period
from the date of acquisition to 31st March, 2011.
ANNUAL REPORT 2011 103