ANNUALREPORT 2013
81
Notes to theFinancial Statements
(Cont’d)
4) SIGNIFICANTACCOUNTINGPOLICIES
(Cont’d)
g) SubsidiariesandBasisof Consolidation
(Cont’d)
When the Group loses control of a subsidiary, a gain or loss calculated as the difference
between (i) theaggregateof the fair valueof theconsideration receivedand the fair valueof
any retained interest and (ii) thepreviouscarryingamount of theassetsand liabilitiesof the
subsidiary andany non-controlling interest, is recognised inprofit or loss. The subsidiary’s
cumulative gain or loss which has been recognised in other comprehensive income and
accumulated inequityare reclassified toprofitor lossorwhereapplicable, transferreddirectly
to retained earnings. The fair value of any investment retained in the former subsidiary at
the date control is lost is regarded as the cost on initial recognition of the investment.
h) Investments inSubsidiaries
In theCompany’s separate financial statements, investments in subsidiaries are stated at
cost less accumulated impairment losses. Ondisposal of such investments, thedifference
between disposal proceeds and their carrying amounts are recognised in profit or loss.
i)
IntangibleAssets
i)
Research andDevelopment Costs
Expenditureon researchactivities is recognisedasanexpense in theperiod inwhich
it is incurred.
An internally-generated intangible asset arising from development (or from the
developmentphaseofan internalproject) is recognised if,andonly if,allof the following
have beendemonstrated:
(i) the technical feasibilityofcompleting the intangibleassetso that itwillbeavailable
for use or sale;
(ii) the intention to complete the intangible asset and use or sell it;
(iii) the ability touse or sell the intangibleasset;
(iv) how the intangible asset will generateprobable future economic benefits;
(v) theavailabilityof adequate technical, financial andother resources to complete
the development and to use or sell the intangible asset; and
(vi) theability tomeasure reliably theexpenditureattributable to the intangibleasset
during its development.
