Annual Report - QuamIR
Annual Report - QuamIR
Annual Report - QuamIR
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Notes to the Consolidated Financial Statements (Continued)<br />
<br />
43 Notes to consolidated cash flow statement (Continued)<br />
(b) Disposal of subsidiaries<br />
In 2011, disposal of subsidiaries mainly represents the disposal<br />
of Dorboy Investment Limited and Shenzhen Jing-Guang<br />
Development Company Limited, effectively held 80% by the<br />
Group, which was classified as non-current assets held for sale<br />
(Note 44) as at 31 December 2010, and also the disposal of HKC<br />
Shenyang Heping Investments Limited and Xiangxin Real Estate<br />
(Shenyang) Company Limited, 100%-owned subsidiaries of the<br />
Group.<br />
43 <br />
(b) <br />
<br />
<br />
80%<br />
<br />
<br />
44<br />
100%<br />
<br />
<br />
2011 2010<br />
<br />
HK$ Million HK$ Million<br />
<br />
Net assets disposed:<br />
<br />
Investment properties 1,409.8 –<br />
Cash and cash equivalents 41.5 –<br />
Trade and other receivables 2.2 –<br />
Property, plant and equipment 1.5 –<br />
Shareholder’s loan (203.6) –<br />
Deferred taxation (24.6) –<br />
Trade and other payables (24.6) –<br />
Other loans (76.0)<br />
Non-controlling interests 84.1 –<br />
1,210.3 –<br />
Release of exchange reserve upon disposal (202.7) –<br />
Gain on disposal of subsidiaries 280.1 –<br />
Consideration 1,287.7 –<br />
Satisfied by:<br />
<br />
Cash consideration 992.0 –<br />
Receivables 295.7 –<br />
1,287.7 –<br />
•<br />
181