113
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
32.
INVESTMENT IN SUBSIDIARIES
(CONTINUED)
Impairment testing of investment in subsidiaries
During the financial year ended 30 June 2014, management performed an impairment test for the investments
in Shanghai Cordlife Biomedical Research Co., Ltd and Cordlife Stem Cell Technology Limited, as these
subsidiaries have been persistently making losses. Impairment loss of $270,000 was recognised for the year
ended 30 June 2014 to write down these subsidiaries to their recoverable amount.
Interest in subsidiary with material non-controlling interest (NCI)
As at 30 June, the Group has the following subsidiary that has NCI that is material to the Group.
Name of
subsidiary
Principal
place of
business
Proportion of
ownership
interest held by
non-controlling
interest
Loss allocated
to NCI during
the reporting
period
Accumulated
NCI at the end
of reporting
period
Dividends
paid to NCI
$
$
$
30 June 2015:
Cordlife Sciences
(India) Pvt
.
Ltd.
India
15%
262
444
–
Significant restrictions:
There are no significant restrictions on the Group’s ability to use or access assets and settle liabilities of the
subsidiary with material non-controlling interest.
Summarised financial information about subsidiary with material NCI
Summarised financial information including goodwill on acquisition and consolidation adjustments but before
intercompany eliminations of subsidiary with material non-controlling interests are as follows:
Summarised statement of financial position
Cordlife Sciences
(India) Pvt. Ltd.
2015
$
Current
Assets
7,605
Liabilities
4,746
Net current assets
2,859
Non-current
Assets
2,669
Liabilities
3,075
Net non-current liabilities
(406)
Net assets
2,453
