Acquisition of subsidiaries and deposits paid for acquisition of subsidiaries (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Boca International Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, March 31, 2016.
|
|
|
|
|
|
Net liabilities acquired (including cash of $1 and other loan of $332)
|
|
$
|
(337)
|
|
Amortizable intangible assets
|
|
|
|
|
Backlog contract (Note 3)
|
|
|
372
|
|
Proprietary technology (Note 3)
|
|
|
26,179
|
|
Goodwill
|
|
|
36,504
|
|
Deferred tax liabilities
|
|
|
(6,638)
|
|
Total
|
|
$
|
56,080
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
– cash consideration (paid in fiscal 2015 in the form of refundable deposit)
|
|
$
|
52,000
|
|
– share-based consideration
|
|
|
4,080
|
|
Total
|
|
$
|
56,080
|
|
| Century Skyway Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, May 10, 2017.
|
|
|
|
|
|
Net liabilities acquired (including cash of $1 and accrued liabilities of $68)
|
|
$
|
(67)
|
|
Amortizable intangible assets
|
|
|
|
|
Technologies
|
|
|
19,682
|
|
Goodwill
|
|
|
20,230
|
|
Deferred tax liabilities
|
|
|
(4,920)
|
|
Total
|
|
$
|
34,925
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
– cash consideration (paid in fiscal 2016 in the form of refundable deposit)
|
|
$
|
32,600
|
|
– share-based consideration
|
|
|
2,325
|
|
Total
|
|
$
|
34,925
|
|
| Giant Credit Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, December 22, 2017.
|
|
|
|
|
|
Net assets acquired (including cash of $943, loans receivable of $670, interest receivables of $6, property, plant and equipment of $508 and income tax payable of $14)
|
|
$
|
2,113
|
|
Goodwill
|
|
|
248
|
|
Deferred tax liabilities
|
|
|
(7)
|
|
Total
|
|
$
|
2,354
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
— share-based consideration
|
|
$
|
2,354
|
|
Total
|
|
$
|
2,354
|
|
| Paris Sky Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
|
|
|
|
|
|
Net assets acquired
|
|
|
|
|
Property, plant and equipment*
|
|
$
|
52,994
|
|
Allowance on guarantee
|
|
|
(817)
|
|
Other assets acquired (including cash of $1,957, other assets of $50, other payables of $170 and income tax payable of $4)
|
|
|
1,833
|
|
Deferred tax assets
|
|
|
116
|
|
Deferred tax liabilities
|
|
|
(5,998)
|
|
Total
|
|
$
|
48,128
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
— share-based consideration
|
|
$
|
4,784
|
|
— 49% interest in Boca
|
|
|
23,699
|
|
— 49% interest in CSL
|
|
|
16,170
|
|
— promissory note
|
|
|
3,475
|
|
Total
|
|
$
|
48,128
|
*Property, plant and equipment acquired included leasehold land and buildings with a value of $53.00 million at the date of acquisition which are pledged against the banking facilities of HK$215.32 million ($27.61 million) of a company beneficially owned by Kimmy Lai Ching Luk (see (c) above). The property pledge (allowance on guarantee) was valued on the basis of estimation of the probability that the borrower would be unable to either repay the loan or fulfil the loan contract terms (the default risk) and the amount that would be recovered at events of default (the recovery rate).
|
| Vision Lane Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, March 12, 2019.
|
|
|
|
|
|
Net assets acquired (including cash of $1,122, loan receivables of $7,495, interest receivables of $151, property, plant and equipment of $1,095, other receivables of $20, accounts payable of $30, other payables of $607 and income tax payable of $81)
|
|
$
|
9,165
|
|
Goodwill
|
|
|
3,658
|
|
Deferred tax liabilities
|
|
|
(124)
|
|
Total
|
|
$
|
12,699
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
– cash consideration ($6,410 paid in fiscal 2018 in the form of refundable deposit)
|
|
$
|
7,457
|
|
– share-based consideration
|
|
|
5,242
|
|
Total
|
|
$
|
12,699
|
|
| Giant Financial Services Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, January 31, 2020.
|
|
|
|
|
|
Net assets acquired (including cash of $981, other receivables and prepayments of $707, property, plant and equipment of $7, accrued liabilities of $29, other payables-related party of $662 and income tax payable of $387)
|
|
$
|
617
|
|
|
|
|
|
|
Intangible assets (including trademarks of $1,550 and backlog contracts of $2,786)
|
|
|
4,336
|
|
Goodwill
|
|
|
60,103
|
|
Deferred tax liabilities
|
|
|
(715)
|
|
Total
|
|
$
|
64,341
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
– cash consideration (paid in fiscal 2019 in the form of deposit)
|
|
$
|
21,795
|
|
– consideration in the form of a promissory note (note)
|
|
|
28,473
|
|
– share-based consideration
|
|
|
14,072
|
|
Total
|
|
$
|
64,341
|
Note:The promissory note was issued to Mr. Or on January 31, 2020. The face value (principal) amount of $28.47 million is repayable by January 31, 2025, and bearing fixed interest at a rate of eight percent (8%) per annum. The Company has repaid the promissory note by several payments during 2020 and 2021, and it was fully settled by March 30, 2021.
|
| Apiguru Pty Limited |
|
| Schedule of Fair Value of Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, October 8, 2020.
|
|
|
|
|
|
Net assets acquired (including cash of $28, account payable of $1, other payables of $7)
|
|
$
|
20
|
|
Intangible assets - non-competition agreement
|
|
|
39
|
|
Goodwill
|
|
|
539
|
|
Deferred tax liabilities
|
|
|
(10)
|
|
Total
|
|
$
|
588
|
|
|
|
|
|
|
Total purchase price comprised of:
|
|
|
|
|
– share-based consideration
|
|
$
|
588
|
|
Total
|
|
$
|
588
|
|