Annual Report 2015
FINANCIAL SECTION
195
45 NOTES TO CONSOLIDATED STATEMENT OF CASH FLOWS
(continued)
(d) Disposal of subsidiaries
2015
2014
HK$m
HK$m
Net assets disposed
Property, plant and equipment
1,262.5
36.2
Investment properties
5.6
41.0
Land use rights
–
10.0
Held-to-maturity investments
0.6
–
Other non-current assets
15.6
–
Properties under development
–
139.5
Inventories
12.8
2.2
Debtors and prepayments
175.3
56.1
Cash and bank balances
251.7
236.0
Creditors and accrued charges
(611.0)
(54.2)
Current tax payable
(70.3)
–
Deferred tax liabilities
(30.3)
–
Net assets
1,012.5
466.8
Interest retained by the Group as a joint venture
(4,787.1)
–
Release of reserves upon disposal
(14.0)
(86.8)
Gain on partial disposal of interests in subsidiaries and remeasurement
of retained interest at fair value after reclassification to a joint venture
13,709.2
–
Net gain on disposal of subsidiaries
18.0
119.8
Consideration
9,938.6
499.8
(e) Analysis of net inflow of cash and cash equivalents in respect of disposal of subsidiaries
2015
2014
HK$m
HK$m
Cash consideration
9,938.6
499.8
Cash and cash equivalents disposed
(251.7)
(236.0)
9,686.9
263.8
