Osim FR 050407.indd

Notes to the Financial Statements - 31 December 2006 (cont’d)11. Subsidiaries (cont’d)c) Acquisition of subsidiaries in financial year ended 31 December 2006 (cont’d)i) Effect of acquisition of interests in subsidiariesIn 2006, the fair values of the identifi able assets and liabilities of subsidiaries as at the date of acquisition were:CarryingRecognised on amount beforeacquisition # combination$’000 $’000Fixed assets 490 490Intangible assets (Note 13) 1,155 540Stocks 715 944Other debtors, deposits and prepayments 422 641Due from fellow subsidiaries of the Group 4,404 4,404Cash and bank balances 253 2537,439 7,272Trade creditors (9) (9)Other creditors and accruals (228) (228)Due to GAL (5,147) (5,147)Due to fellow subsidiaries of the Group (4,404) (4,404)Lease obligations (12) (12)(9,800) (9,800)Net identifi able liabilities (2,361) (2,528)Goodwill arising on acquisition (Note 13) 1,018(1,343)Minority interests 1,392Purchase consideration 49Cash paid 49Due to GAL 5,147Net cash acquired with the subsidiaries (253)Net cash outfl ow on acquisition 4,943#The purchase price allocation to goodwill, intangible assets (excluding goodwill) and other assets is currentlybeing assessed and is expected to be fi nalised within 12 months from the date of acquisition.Notes to the Financial Statements 118Annual Report 2006