Financial Statements - Mewah Group
Financial Statements - Mewah Group
Financial Statements - Mewah Group
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
MEWAH INTERNATIONAL INC.<br />
ANNUAL REPORT 2011<br />
Notes to the <strong>Financial</strong> <strong>Statements</strong><br />
For the financial year ended 31 December 2011<br />
35. Significant business combinations (continued)<br />
The <strong>Group</strong> has allocated the purchase price to the acquired net assets based on fair values as follows:<br />
<strong>Group</strong><br />
US$’000<br />
(i)<br />
Purchase consideration<br />
Total purchase consideration 6,202<br />
(ii)<br />
Effect on cash flows of the <strong>Group</strong><br />
Cash paid (as above) (6,202)<br />
Less: Cash and cash equivalents in subsidiaries acquired 9,806<br />
Cash inflow on acquisition 3,604<br />
At<br />
fair value<br />
(restated)<br />
US$’000<br />
(iii)<br />
Identifiable assets acquired and liabilities assumed<br />
Cash and cash equivalents 9,806<br />
Property, plant and equipment 123<br />
Inventories 22,741<br />
Trade and other receivables 1,719<br />
Total assets 34,389<br />
Trade and other payables (32,127)<br />
Borrowings (1,427)<br />
Current tax liabilities (151)<br />
Total liabilities (33,705)<br />
Total identifiable net assets 684<br />
Less: Non-controlling interests at fair value (328)<br />
Add: Goodwill 5,846<br />
Consideration transferred for the business 6,202<br />
122
Change language