Annual Report 2016 - page 184

New World Development Company Limited
170
Financial Section
34 Amounts Due from/to Customers for Contract Work
2016
2015
HK$m
HK$m
Contract costs incurred plus attributable profits less foreseeable losses
8,736.8
27,614.9
Progress payments received and receivable
(9,911.5)
(28,310.4)
(1,174.7)
(695.5)
Representing:
Gross amounts due from customers for contract work (note 31)
417.6
154.8
Gross amounts due to customers for contract work (note 41)
(1,592.3)
(850.3)
(1,174.7)
(695.5)
35 Non-Current Assets Classified as Assets Held for Sale/Liabilities Directly
Associated with Non-Current Assets Classified as Assets Held for Sale
Non-current assets classified as held for sale
2016
2015
HK$m
HK$m
Listed securities
Equity securities listed in Hong Kong
7.8
Property, plant and equipment
116.7
Investment properties
257.0
Assets of a subsidiary classified as held for sale (note (a))
3,766.0
Assets of the Disposal Hotel Group classified as held for sale (note (b))
2,097.8
3,882.7
2,362.6
Liabilities directly associated with non-current assets classified as assets held for sale
2016
2015
HK$m
HK$m
Liabilities of a subsidiary classified as held for sale (note (a))
83.3
Liabilities of the Disposal Hotel Group classified as held for sale (note (b))
927.9
83.3
927.9
Notes:
(a)
On 20 June 2016, an agreement was entered into by NWSH, a subsidiary of the Group in respect of the disposal of its indirect wholly
owned subsidiary, Shine Fame Holdings Limited (“Shine Fame”, an investment holding company which holds the entire interest in the
property where NWS Kwai Chung Logistics Centre is situated) and the assignment of debt at an aggregate cash consideration of
HK$3.75 billion. All the conditions precedent to the sale and purchase agreement have been fulfilled and completion of the disposal
took place on 31 August 2016.
As at 30 June 2016, the assets and liabilities related to Shine Fame have been classified as assets held for sale and liabilities directly
associated with assets held for sale.
2016
Note
HK$m
Assets
Investment properties
16
3,750.0
Other non-current assets
2.3
Debtors and prepayments
1.2
Cash and bank balances
12.5
Assets of a subsidiary classified as held for sale
3,766.0
Liabilities
Creditors and accrued charges
26.5
Deferred tax liabilities
27
56.8
Liabilities of a subsidiary classified as held for sale
83.3
1...,174,175,176,177,178,179,180,181,182,183 185,186,187,188,189,190,191,192,193,194,...252
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