Annual - Johnson Electric

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44. Effect of adopting new HKFRS (Cont’d) NOTES TO THE ACCOUNTS Standards, interpretations and amendments to published standards that are not yet effective Certain new standards, interpretations and amendments to existing standards have been published that are mandatory for the Group’s accounting periods beginning on or after 1st January 2006 or later periods but which the Group has not early adopted, as follows: HKAS 39 (Amendment) Cash flow hedge accounting of forecast intragroup transactions HKAS 39 (Amendment) The fair value option (effective from 1st January 2006) HKAS 39 and HKFRS 4 (Amendment) Financial guarantee contracts (effective from 1st January 2006) HKFRS 1 (Amendment) First-time adoption of Hong Kong Financial Reporting Standards HKFRS 7 Financial Instruments: Disclosure, and a complementary amendment to HKAS 1, Presentation of financial statements – Capital disclosures HKFRS-Int 4 Determining whether an arrangement contains a lease HKFRS-Int 5 Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds HK(IFRIC)-Int 6 Liabilities arising from participating in a specific market – Waste electrical and electronic equipment 45. Subsequent event On 3rd April 2006, the Group paid US$4.9 million to purchase additional 10% shareholding in Shanghai Ri Yong- JEA Gate Electric Co Ltd., previously a jointly controlled entity of the Group. The effective holding increased from 50% to 60%. 46. Approval of accounts The accounts were approved by the Directors on 5th June 2006. Johnson Electric Holdings Limited 113
NOTES TO THE ACCOUNTS 47. Principal subsidiaries, jointly controlled entities and associated companies The following list contains particulars of subsidiaries, jointly controlled entities and associated companies of the Group which in the opinion of the directors, materially affect the results and assets of the Group: Place of Effective shareholding Principal incorporation Issued and by by Name activities and operation paid up capital company subsidiary SUBSIDIARIES Best Port International Limited Investment holding British Virgin 1 share of – 100% Islands US$1 each Bloor Company Limited Property holding British Virgin 50,000 shares of – 100% Islands US$1 each China Autoparts, Inc. Investment holding United States 12,121,213 shares of – 54.12% of America US$0.0001 each Chengdu Tonglin Casting Manufacturing China RMB67,560,000 – 54.12% Industrial Co., Ltd Crown Trend Limited Property holding British Virgin 1 share of – 100% Islands US$1 each Delta Success Electric Company Manufacturing Malaysia 1 share of US$1 each – 100% Limited De Chang Metal Industries Limited Sales and marketing Hong Kong 20,000 shares of – 100% HK$100 each De Chang Fulfilment Limited Trading Hong Kong 1 share of – 100% HK$1 each Deyang Lianzhou Electric Ltd. Manufacturing China US$480,000 with – 100% US$680,000 paid up Easy Fortune (H.K.) Ltd. Property holding British Virgin 50,000 shares of – 100% Islands US$1 each Easy Reach Electric Motor Limited Sales and marketing Hong Kong 100,000 shares of – 90.2% HK$1 each Gate do Brasil Ltda Manufacturing Brazil BRL383,166.66 – 100% Gate Deutschland GmbH Manufacturing Germany EUR60,000 – 100% Gate España Automoción, S.L. Manufacturing Spain EUR150,250 – 100% Gate France SAS Manufacturing France EUR382,000 – 99.98% Gate S.r.l. Manufacturing Italy 2,600,000 shares of – 100% EUR1 each 114 Johnson Electric Holdings Limited
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Annual Report 2006 Johnson Electric
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CORPORATE PROFILE CONTENTS 2 Johnso
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FINANCIAL HIGHLIGHTS FINANCIAL HIGH
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A MESSAGE FROM PATRICK WANG A MESSA
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A MESSAGE FROM PATRICK WANG The acq
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BUSINESS REVIEW AUTOMOTIVE MOTORS G
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BUSINESS REVIEW Power Tools Hand To
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BUSINESS REVIEW JOHNSON ELECTRIC CA
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FINANCIAL REVIEW FINANCIAL REVIEW O
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FINANCIAL REVIEW Group Turnover 18
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FINANCIAL REVIEW Other Gains Other
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FINANCIAL REVIEW Stocks and work in
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FINANCIAL REVIEW At the balance she
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CORPORATE GOVERNANCE REPORT CORPORA
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CORPORATE GOVERNANCE REPORT The com
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CORPORATE GOVERNANCE REPORT In addi
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CORPORATE GOVERNANCE REPORT INTERNA
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CORPORATE GOVERNANCE REPORT Neither
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REPORT OF THE DIRECTORS Directors T
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REPORT OF THE DIRECTORS B SUBSTANTI
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REPORT OF THE DIRECTORS 5. Subscrip
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REPORT OF THE DIRECTORS Public Floa
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BIOGRAPHICAL DETAILS OF DIRECTORS A
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AUDITORS’ REPORT AUDITORS’ REPO
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CONSOLIDATED BALANCE SHEET (cont’
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CONSOLIDATED PROFIT AND LOSS ACCOUN
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CONSOLIDATED CASH FLOW STATEMENT Fo
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NOTES TO THE ACCOUNTS NOTES TO THE
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NOTES TO THE ACCOUNTS 2. Principal
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Annual - Johnson Electric

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