WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED
140
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2016
21. INTERESTS IN ASSOCIATES
THE GROUP
THE COMPANY
2016
2015
2016
2015
HK$’000
HK$’000
HK$’000
HK$’000
Cost of interests in associates
98,000
73,500
–
–
Deemed capital contribution
9,016
7,490
9,016
7,490
Share of post-acquisition reserves:
Post-acquisition profits brought forward
1,450
7,936
–
–
Loss for the year
(38,273)
(6,486)
–
–
Translation reserve
(113)
58
–
–
70,080
82,498
9,016
7,490
Impairment
(70,080)
–
(9,016)
–
–
82,498
–
7,490
Deemed capital contribution represents the fair value of financial guarantee contracts granted to
the associate at initial recognition (Note 39).
At the end of each reporting period, the Group had interests in the following significant associates:
Form of
Place of
Principal
Proportion of
Proportion of
business
incorporation/
place of
Class of
ownership interest voting power held
Name of entity
structure
establishment
operation
share held held by the Group by the Group
Principal activities
2016
2015
2016
2015
GW Electronics
Incorporated Hong Kong
Hong Kong
Ordinary
49%
49%
49%
49% Investment holding
Company
and trading of
Limited
electronic
components
Held by GW Electronics Company Limited
兹雅電子（深圳）
Incorporated PRC
PRC
Registered
49%
49%
49%
49% Inactive
有限公司
capital
兹雅電子（上海）
Incorporated PRC
PRC
Registered
49%
49%
49%
49% Inactive
有限公司
capital
