(a). The bank overdraft and stand by facilities of the subsidiary companies with ANZ Bank is secured by registered equitable mortgages over all the assets and undertakings of the companies, including uncalled and unpaid capital of the respective companies. The bank overdraft (together with the letter of credit and guarantee...

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The Group’s share of profit after tax in its equity accounted investees for the year was $2.600 million (2014: $1.744 million). The Group has interests in the following associates considered individually immaterial: Marsh Limited Golden Manufacturers Limited Pernix (Fiji) Limited

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The Group has a number of subsidiaries which it controls but which also have significant non-controlling interests. The table set out below shows the interest that non-controlling interests have in each subsidiary that is material to the reporting entity.

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(c)  valuation of financial instruments The Group measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements: Level 1: fair value is calculated using quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: fair value...

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The accounting policy on intangibles is set out in Note 2.13 and impairment loss on goodwill is recognised in the statement of profit or loss and other comprehensive income. Impairment test for goodwill – FHL Retailing Limited Goodwill of $12.112m has been tested for impairment by reviewing the underlying net...

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  Investment properties are stated at cost less accumulated depreciation. Investment properties occupied by the Group amounting to $12,385,000, was transferred to property, plant and equipment on 1 July 2013 as part of this restatement of this balance. During 2015, a further $9,009,000 was transferred as a result of the...

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FHL News Letter – April 2020

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