ASSETS HELD FOR SALE
Assets classified as held for sale consist of:
- the assets and liabilities of Media Niugini Ltd.
- a parcel of land held by Merchant Finance & Investment Company Limited. The Reserve Bank of Fiji has provided Merchant Finance & Investment Company Limited until 13 November 2015 to dispose of this property.
- a vessel owned by Blue Lagoon Cruises Limited. The vessel has been reclassified to property, plant and equipment in 2015 following a decision of the directors to refurbish the vessel.
Assets and liabilities of disposal group held for sale
On 5th February 2015, Fiji Television Limited announced that it had signed a sale and purchase agreement with Telikom PNG Ltd for the sale of 100% of its wholly owned subsidiary, Media Niugini Ltd. Negotiations in regards to the sale are ongoing. The assets and liabilities of the subsidiary as at 30 June 2015 were stated at their carrying amount and comprised the following: