BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
114
Notes to the
Financial Statements
for the financial year ended 31December 2013
14. Investment inanassociate (cont’d)
B. Disposal of investment inYork Transport Equipment (Asia) Pte Ltd
On 23March 2012, TRF Limited exercised its call option for the remaining 49% interest in York Transport Equipment (Asia)
Pte Ltd (“York”) and accordingly, the Company received net proceeds of $21,850,674 from the disposal. After the disposal,
York ceased tobe an associate of theCompany. The gain on disposal for theGroupwas computed as follows:
Group
2012
$
Proceeds fromdisposal
22,178,235
Less:
Carrying value of the investment
(10,956,223)
Expenses on disposal
(327,561)
Gain ondisposal
10,894,451
The share of results fromYork of $Nil (2012: $597,800) has been recognised in the consolidated statement of profit and loss.
15. Investment securities
GroupandCompany
2013
2012
$
$
Non-current:
Available-for-sale financial assets
- 4.15% p.a. SGD corporate bond due 27October 2021 (quoted) - at fair value
2,117,444
–
- Equity securities (unquoted)
339,012
–
2,456,456
–
The Group and Company's unquoted equity securities relates to a minority stake in an investment fund company, which was
incorporated in Luxembourg. Fair value information has not been disclosed because fair value cannot bemeasured reliably. These
equity instruments are not quotedon anymarket anddoes not have any comparable industry peer that is listed.
