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

NotES to tHE CoNSoLIDAtED
fINANCIAL StAtEMENtS
33. PURCHASE OF SUBSIDIARIES (Continued)
(c)
(Continued)
The fair value of trade and other receivables at the date of acquisition amounted to HK$11,879,000.
The gross contractual amounts of those trade and other receivables acquired amounted to
HK$11,879,000 at the date of acquisition. None of the contractual cash flows are not expected to be
collected at acquisition date.
Goodwill arising on acquisition:
US$’000
Shown as
HK$’000
Consideration transferred 17,000 132,630
Less: Net assets acquired (5,503) (42,897)
Goodwill arising on acquisition 11,497 89,733
The goodwill is attributable to the anticipated profitability arising from the distribution of the Group’s
products in the new markets and the future operating synergies from the combination.
None of the goodwill arising on this acquisition is expected to be deductible for tax purposes.
Net cash outflow on acquisition of HCI:
US$’000
Shown as
HK$’000
Cash consideration paid 4,000 31,178
Less: Cash and cash equivalent balances acquired (336) (2,619)
3,664 28,559
HCI contributed a revenue of HK$2,823,000 and a loss of HK$2,774,000 for the period from the date
of acquisition to 31st March, 2011.
If the acquisition has been completed on 1st January, 2010, total group revenue for the period
from 1st January, 2010 to 31st March, 2011 would have been HK$1,716,257,000 and profit for the
period would have been HK$117,342,000. The proforma information is for illustrative purposes only
and is not necessarily an indication of the revenue and results of the Group that actually would have
been achieved had the acquisition been completed on 1st January, 2010, nor is it intended to be a
projection of future results.
ANNUAL REPORT 2011 107