Financial Statements - Mewah Group
Financial Statements - Mewah Group
Financial Statements - Mewah Group
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Building Capabilities<br />
Notes to the <strong>Financial</strong> <strong>Statements</strong><br />
For the financial year ended 31 December 2011<br />
27. Other reserves<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
(a)<br />
Composition:<br />
Merger reserve (50,749) (50,749)<br />
General reserve (2,608) (832)<br />
Asset revaluation reserve 10,146 10,281<br />
Currency translation reserve 27,796 31,794<br />
(15,415) (9,506)<br />
Merger reserve represents the difference between the cost of investment and nominal value of share capital of the merged<br />
subsidiary.<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
(b)<br />
Movements<br />
(i) Merger reserve<br />
Beginning of the financial year (50,749) (38,834)<br />
Cash paid/payable arising from acquisition of subsidiaries under<br />
common control - (11,915)<br />
End of the financial year (50,749) (50,749)<br />
(ii)<br />
(iii)<br />
(iv)<br />
General reserve<br />
Beginning of the financial year (832) -<br />
Acquisition of non-controlling interests (516) (832)<br />
Put option granted to non-controlling interests * (1,260) -<br />
End of the financial year (2,608) (832)<br />
Asset revaluation reserve<br />
Beginning of the financial year 10,281 11,031<br />
Realisation upon disposal of asset (135) (750)<br />
End of the financial year 10,146 10,281<br />
Currency translation reserve<br />
Beginning of the financial year 31,794 6,509<br />
Net currency translation differences of foreign subsidiaries (3,798) 25,385<br />
Non-controlling interests (200) (100)<br />
End of the financial year 27,796 31,794<br />
The reserves are non-distributable.<br />
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