Annual Report 2011 - QuamIR

Notes to the Consolidated Financial StatementsFor the year ended 31 March 201139. Disposal of Subsidiaries (continued)The net liabilities of 海 南 泰 瑞 礦 產 開 發 有 限 公 司 , 廣 州 市 高 泓 礦 業 技 術 咨 詢 有 限 公 司 and the consolidatednet liabilities of SP Gas and CNPC (“SP Gas Group”) at the dates of disposal were as follows:廣 州 市 高 泓海 南 泰 瑞 礦 產 礦 業 技 術 SP Gas開 發 有 限 公 司 咨 詢 有 限 公 司 Group TotalHK$’000 HK$’000 HK$’000 HK$’000Property, plant and equipment 3 – 22 25Prepayments, deposits andother receivables 31 – 486 517Amounts due from group companies 353 – 341 694Amount due from a director – – 11,383 11,383Bank balances and cash 14 – 737 751Other payables and accruals (13,390) – (190) (13,580)Amount due to the Group – – (15,185) (15,185)(12,989) – (2,406) (15,395)Non-controlling interests 15 – (278) (263)Release of foreign currencytranslation reserve 352 4 (789) (433)Gain/(loss) on disposal of subsidiaries 14,797 (227) 1,588 16,1582,175 (223 ) (1,885 ) 67Satisfied by:Cash consideration 2,175 – 13,300 15,475Assignment of amount due to the Group – – (15,185) (15,185)Amount waived through disposal – (223) – (223)2,175 (223 ) (1,885 ) 67Net cash inflow on disposal of subsidiaries:Cash consideration 2,175 – 13,300 15,475Bank balances and cash disposed of (14) – (737) (751)2,161 – 12,563 14,724Sino Prosper State Gold Resources Holdings Limited118