90
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
14. Intangible assets (cont’d)
Note
Club
membership
$’000
Computer
software
$’000
Work in
progress
$’000
Total
$’000
Company
Cost:
At 1 July 2014
Additions
–
186
418
53
290
583
708
822
At 30 June 2015 and 1 July 2015
Additions
Disposal
Transfer from work in progress
186
176
(176)
–
471
408
–
647
873
543
–
(647)
1,530
1,127
(176)
–
At 30 June 2016
186
1,526
769
2,481
Accumulated amortisation:
At 1 July 2014
Amortisation for the year
–
–
284
82
–
–
284
82
At 30 June 2015 and 1 July 2015
Amortisation for the year
–
–
366
146
–
–
366
146
At 30 June 2016
–
512
–
512
Net carrying amount:
At 30 June 2015
186
105
873
1,164
At 30 June 2016
186
1,014
769
1,969
15. Financial asset designated at fair value through profit or loss
2016
$’000
Group
2015
$’000
Company
2016
2015
$’000
$’000
Quoted equity investment
–
60,858
–
60,858
As at 30 June 2015, the Group had a 9.13% interest in China Cord Blood Corporation (“CCBC”), a cord blood
banking company listed on the New York Stock Exchange. The carrying value of the investment is based on the
last traded price as at 30 June 2015.
This investment is a financial asset designated at fair value through profit or loss in accordance with the
Group’s Risk Management and Investment Strategy (the “Strategy”).
Consistent with the Strategy, the Group manages risk by setting a lower and upper limit in share price to
dispose of this investment. The fair value of this investment is monitored by the Chief Financial Officer on a
regular basis and reported to the Chief Executive Officer. Changes in fair values of this investment will also
be reported to the Board of Directors at least on a quarterly basis, and as and when there is a significant
fluctuation (>10%) in the share prices.
On 14 September 2015, the Group obtained shareholders’ approval in an Extraordinary General Meeting in
relation to the sale of shares and a convertible note issued by CCBC (the “Disposal”) to Golden Meditech
Holdings Limited (“Meditech”).
