NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
135
CITIC ENVIROTECH LTD.
Annual
Report
2015
40 ACQUISITION OF SUBSIDIARIES (cont’d)
Details of the fair value of consideration transferred, assets acquired and liabilities assumed at the
date of acquisitions are as follows:
Dafeng Memstar
Total
$’000
$’000
$’000
Cash and bank balances
1,052
9,442
10,494
Trade receivables
926
24,686
25,612
Other receivables and prepayments
344
55,313
55,657
Prepaid lease
2,506
–
2,506
Inventories
24
12,134
12,158
Property, plant and equipment
28,431
26,796
55,227
Service concession receivable
–
63,995
63,995
Intangible assets
2,400
10,610
13,010
Deferred tax assets
322
–
322
Associates
–
723
723
Bank loans
–
(16,496)
(16,496)
Trade payables
(3,784)
(5,618)
(9,402)
Other payables
(2,905)
(54,936)
(57,841)
Finance leases
–
(116)
(116)
Income tax payable
(166)
(2,025)
(2,191)
Deferred tax liabilities
–
(8,168)
(8,168)
Net assets acquired
29,150 116,340 145,490
Goodwill
– 253,253 253,253
Less: Fair value of previously held interest
(13,402)
(59,215)
(72,617)
Less: Non-controlling interest
(14,071)
(4,569)
(18,640)
Total consideration paid
307,486
