/ . 8 5
A N N U A L R E P O R T 2 0 1 5
T H E S T R E N G T H O F O U R B R A N D S
1 3 .
i nv e s tmen t s i n Sub s i d i a r i e s ( Con t ’ d )
name of Subsidiaries
Principal activities
Cost in books
of group
Effective percentage of
equity held by group
2015
$’000
2014
$’000
2015
%
2014
%
Spania GTA Asia Pacific
Private Ltd.
(a)
Dormant
–
(b)
–
(b)
100
100
deLaCour Asia Pacific
Pte. Ltd.
(a)
Trading and distribution of watches
and related accessories
–
(b)
–
(b)
100
100
AutoInc EuroSports
Pte. Ltd.
(a),(d)
Trading of pre-owned automobiles
and provision of maintenance
and grooming services for luxury
automobiles
–
(c)
–
60
–
Notes:
(a) Audited by RSM Chio Lim LLP.
(b) The cost of investment is less than $1,000.
(c) The cost of investment has been fully impaired.
(d) See also Note 22.
14 .
i nv en t o r i e s
group
2015
$’000
2014
$’000
Automobiles
28,271
14,851
Automobile parts and accessories
1,572
1,188
Watches
3,486
3,535
33,329
19,574
Inventories are stated after allowance. Movements in allowance:
Balance at beginning of the year
1,232
1,222
Charge to profit or loss included in cost of sales
1,270
724
Used
(960)
(714)
Balance at end of the year
1,542
1,232
Changes in inventories of finished goods
13,755
2,616
The amount of inventories included in cost of sales
32,024
30,060
The write-downs of inventories charged to profit or loss included in cost of sales
1,270
724
Certain inventories are pledged as security for the bank facilities and finance leases (Note 20).
