NewWorld Development Company Limited
FINANCIAL SECTION
194
45 NOTES TO CONSOLIDATED STATEMENT OF CASH FLOWS
(continued)
(b) Acquisition of subsidiaries
2015
2014
HK$m
HK$m
Net assets acquired
Investment properties
6,130.3
1,898.7
Land use rights
24.7
64.4
Property, plant and equipment
36.8
188.7
Intangible assets, other than goodwill
0.7
124.1
Properties for development
–
562.5
Properties held for sale
–
141.4
Inventories
81.5
5.8
Debtors and prepayments
40.9
201.2
Cash and bank balances
31.2
233.4
Creditors and accrued charges
(170.4)
(520.2)
Current tax payable
(1.3)
(82.5)
Deferred tax liabilities
(7.0)
(472.2)
Borrowings
(397.0)
(101.0)
Non-controlling interests
(197.9)
(0.3)
Net assets
5,572.5
2,244.0
Interest originally held by the Group as a joint venture
(1,237.2)
(372.0)
4,335.3
1,872.0
Goodwill on acquisition
81.4
630.6
Gain on remeasurement of previously held interest of a joint venture
at fair value upon further acquisition to become a subsidiary
(986.6)
(67.3)
Consideration
3,430.1
2,435.3
(c) Analysis of net outflow of cash and cash equivalents in respect of acquisition of subsidiaries
2015
2014
HK$m
HK$m
Cash consideration
(3,430.1)
(2,435.3)
Cash and cash equivalents acquired
31.2
233.4
Consideration to be paid
–
15.0
Deposit paid in prior year included in other non-current assets
–
1,201.9
(3,398.9)
(985.0)
