Events 2005 - ChartNexus

150
Notes to the Financial Statements 31 December 2005
29. ACQUISITION OF A SUBSIDIARY COMPANY (Continued)
(ii) Effect on financial position
The effect of this acquisition on the financial position of the Group as at the financial year end was as follows:
31.12.2005
RM’000
Property, plant and equipment 2,592
Other receivables, deposits and prepayments 4
Cash and bank balances 66
Other payables and accruals (1,035)
Amount owing to holding company (2,088)
Deferred tax liabilities (195)
Group’s share of net assets (656)
Decrease in Group’s net assets (656)
(iii) Effect on Group’s cash flow statement
Details of net assets acquired, goodwill and cash flow arising from the acquisition were as follows:
As at
9.11.2005
(Date of
acquisition)
RM’000
Other receivables, deposits and prepayments 48
Cash and bank balances 1
Other payables and accruals (354)
Fair value of net assets acquired at 9 November 2005 (305)
Intangible assets – radio license (Note 7) 7,483
Total purchase consideration 7,178
Less: Cash and cash equivalents in subsidiary acquired – cash and bank balances (1)
Cash outflow on acquisition 7,177