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Asia Media Group Berhad
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Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
101
9.
Goodwill on consolidation
Group
2015
2014
RM
RM
At 1 January
2,570,627 2,570,627
Acquisition of a subsidiary
41,683
–
Less: Impairment loss during the financial year (Note 17)
(2,612,310)
–
At 31 December
– 2,570,627
The goodwill on consolidation at the end of the financial year mainly arose from the acquisition
of Transnet Express Sdn. Bhd. (“TESB”), Asia Media Interactive Sdn. Bhd. (“AMISB”) and DPO
Plantations Sdn. Bhd. (“DPSB”). The amount of goodwill initially recognised is dependent upon
the allocation of the purchase price to the fair value of the identifiable assets acquired and the
liabilities assumed.
For the purpose of impairment testing, goodwill has been allocated to the Group’s cash-generating
units (“CGU”) for TESB, AMISB and DPSB amounting to RM2,565,188, RM5,439 and RM41,683
respectively.
Impairment losses were recognised to write-down the carrying amount of goodwill on consolidation
attributable to TESB, AMISB and DPSB due to carrying amount exceeded its recoverable amount.
The impairment losses of RM2,612,310 (2014: RM Nil) has been recognised in the profit or loss.