Section 2 - Sugar Research and Development Corporation
Section 2 - Sugar Research and Development Corporation
Section 2 - Sugar Research and Development Corporation
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Note 5C: Investments Accounted for Using the Equity Method<br />
<strong>Sugar</strong> <strong>Research</strong> <strong>and</strong> <strong>Development</strong> <strong>Corporation</strong><br />
NOTES OF THE FINANCIAL STATEMENTS<br />
2011<br />
$’000<br />
2010<br />
$’000<br />
Investments in associates:<br />
Sacron Innovations Pty Ltd – –<br />
Total equity accounted investments – –<br />
Sacron Innovations Pty Ltd was incorporated to take up the residual assets from CRCSIIB which was<br />
wound up on 30 June 2010. The <strong>Corporation</strong>’s share of the company is 33.07%.<br />
The fair value of the <strong>Corporation</strong>’s investment in Sacron Innovations Pty Ltd as at 30 June 2011 has been<br />
valued at $nil, as it is unlikely that the <strong>Corporation</strong> would receive any funds upon the winding up of the<br />
company.<br />
Note 6: Non-Financial Assets<br />
Note 6A: Leasehold Improvements<br />
Leasehold improvements:<br />
Fair value 158 162<br />
Accumulated depreciation (110) (81)<br />
Total leasehold improvements 48 81<br />
Note 6B: Plant <strong>and</strong> Equipment<br />
Other plant <strong>and</strong> equipment:<br />
Fair value 34 28<br />
Accumulated depreciation (22) (12)<br />
Total other property, plant <strong>and</strong> equipment 12 16<br />
Total property, plant <strong>and</strong> equipment 60 97<br />
All revaluations are conducted in accordance with the revaluation policy stated in Note 1.<br />
No indicators of impairment were found for leasehold improvements, plant <strong>and</strong> equipment.<br />
SRDC Annual Report 2010–2011 93
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