NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
22 CASH AND BANK BALANCES (Continued)
(b) Major non-cash transactions
During the year ended 31 December 2017, the Group has payable in relation to additions of properties under development for sale of HK$5,444,000 (2016: HK$35,892,000) and additions of available-for-sale securities of HK$Nil (2016: HK$61,352,000) arising from the redemption of other financial assets upon maturity. These additions have no cash flow impact to the Group.
(c) Disposal of subsidiaries
+
(i)
On 6 October 2016, the Group completed the disposal of its 100% equity interest in HYFCO Travel Group to Miramar Travel for a total consideration of HK$4,587,000. This resulted in a net gain on disposal of subsidiaries of $4,561,000.
(ii)
Net assets disposed of:
2016
HK$'000
Other property, plant and equipment
Trade and other receivables
Cash and cash equivalents
Trade and other payables
439
10,042
2,278
(12,733)
Net assets
26
Net gain on disposal of subsidiaries
4,561
Total consideration
4,587
Satisfied by:
2016
HK$'000
Cash
4,587
(iii)
Analysis of net cash inflow in respect of the disposal of subsidiaries:
Cash consideration received
Cash disposed of
136
Hong Kong Ferry (Holdings) Company Limited Annual Report 2017
2016
HK$'000
4,587
(2,278)
2,309