34 ACQUISITION OF SERVICED RESIDENCE PROPERTIES, NET OF CASH MOVEMENTS
(continued)
Acquisition of serviced residence properties and subsidiaries
(continued)
The cash flows and net assets and liabilities of serviced residence properties and subsidiaries
acquired are provided below:
Recognised values on
acquisition
2014
2013
$’000
$’000
Serviced residence properties
546,441
291,807
Plant and equipment
8,798
6,496
Deferred tax assets
56
–
Inventories
46
–
Trade and other receivables
2,637
2,199
Cash and bank balances
19,779
15,331
Trade and other payables
(13,964)
(9,981)
Bank loans
(115,592)
(131,262)
Provision for taxation
(34)
(92)
Deferred tax liabilities
(31)
(142)
Net identifiable assets and liabilities acquired
448,136
174,356
Total consideration
448,136
174,356
Cash of subsidiaries acquired
(19,779)
(15,331)
Cash outflow on acquisition of serviced residence properties
428,357
159,025
35 COMMITMENTS
As at the reporting date, the Group and the Trust had the following commitments:
(a) Capital commitments
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Capital expenditure commitments:
– contracted but not provided for
8,602
12,227
313
1,031
Pursuing Growth | 203
