Annual Report 1999 - Parkway Pantai

Consolidated Statement of Cash Flowsfor the year ended 31 December 1999Parkway Holdings Limitedand its Subsidiaries43During the financial year, the Group acquired certain subsidiaries. The fair values of assets acquiredand liabilities assumed were:1999 1998$’000 $’000Fixed assets – 49Interest in associated company 10,534 –Current assets 317 531Current liabilities (12,298) (143)Net (liabilities)/assets acquired (1,447) 437Minority interests – (200)Goodwill – 873(1,447) 1,110Cash acquired (1) (502)Amounts due to the Company 11,298 –Acquisition of subsidiaries, net of cash acquired 9,850 608In the previous financial year, the Group diluted its interest in a subsidiary. There was no dilutionof interest of investment in subsidiaries during the financial year. The net book values of assets andliabilities diluted were:1999 1998$’000 $’000Fixed assets – 3Current assets – 115Current liabilities – (161)Net assets diluted – (43)Minority interests – 21Transfer to investment in associated company – 17Profit on dilution of subsidiary – 555– 550Cash diluted – (111)Dilution of subsidiary, net of cash diluted – 439During the financial year, the Group disposed of its interest in a subsidiary. The net book values ofassets and liabilities disposed of were:1999 1998$’000 $’000Fixed assets 673 –Current assets 1,669 –Current liabilities (1,375) –Net assets disposed 967 –Transfer to investment in associated company 1,007 –Gain on disposal of subsidiary 2,790 –4,764 –Cash disposed (350) –Disposal of subsidiary, net of cash disposed 4,414 –The notes set out on pages 46 to 89 form part of these financial statements.