79
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Group
Goodwill
Customer
relationships
Customer
contracts
Order
backlog
Club
membership
Total
$’000
$’000
$’000
$’000
$’000
$’000
2013
Cost:
At 1 January 2013 and
31 December 2013
220,026
1,554
1,442
61
56
223,139
Accumulated
amortisation and
impairment:
At 1 January 2013
207,348
223
1,275
61
56
208,963
Amortisation
–
884
167
–
–
1,051
At 31 December 2013
207,348
1,107
1,442
61
56
210,014
Net carrying amount:
At 31 December 2013
12,678
447
–
–
–
13,125
Customer relationships
Customer relationships were acquired in business combinations. The customer relationships which arose from the acquisition
of a subsidiary in the current year has been provisionally determined and will be adjusted accordingly in FY2015, following the
completion of the Purchase Price Allocation exercise in accordance with FRS 103(R) Business Combinations.
The useful life of the customer relationships was determined to be 5 years and the asset was amortised on a straight-line basis
over the useful life.
Customer contracts
Customer contracts were acquired in business combinations. The useful life of the customer contracts are corresponding to
the remaining life of the contracts which expired in FY2013. These were amortised on a straight-line basis over the useful life
and were fully amortised in FY2013.
The amortisation for both the customer contracts and customer relationships is included in the line “Other operating expenses”
in the profit and loss account.
Impairment testing of goodwill
Goodwill acquired through business combinations has been allocated to the Group’s cash-generating units (“CGU”) identified
according to the Group’s business units, for impairment testing as follows:
%
Sunningdale Tech Ltd (“STL”), Omni Mold Ltd (“Omni”), Sunningdale Tech (Malaysia) (formerly known as Podoyo Plastic
Industries) Group (“STM”), SDP Manufacturing (“SDP”) and Sunningdale Tech Ind CGUs (“CGU 1”);
%
Omni Tech (Suzhou) Co Ltd (“OTS”) CGU (“CGU 2”);
%
Chi Wo Plastic Moulds Group (“Chi Wo”) CGU (“CGU 3”);
%
Sunningdale Precision Industries Ltd Group (“SPIL”) CGU (“CGU 4”) excluding SDP;
%
UFE Pte Ltd (“UFE”) CGU (“CGU 5”); and
%
AS Sunningdale Tech (Latvia) (“ST Latvia”) and SIA Sunningdale Tech (Riga) (“ST Riga”) CGUs (“CGU 6”)
%
Sunningdale Singapore Holdings Pte Ltd Group (“SSH”) CGU (“CGU 7”)
14.
Intangible assets (cont’d)
