Baker Technology LimitedAnnual Report 2014
115
12.
Intangible assets
Goodwill
Vessel
design
Total
$
$
$
Group
Cost :
At 1 January 2013, 31December 2013 and
1 January 2014
7,551,331
–
7,551,331
Additionduring the year
–
2,213,089
2,213,089
At 31December 2014
7,551,331
2,213,089
9,764,420
Accumulated impairment :
At 1 January 2013, 31December 2013 and
1 January 2014
–
–
–
Net carrying amount :
31December 2013
7,551,331
–
7,551,331
31December 2014
7,551,331
2,213,089
9,764,420
Impairment testingof goodwill
Thegoodwillwasderived from theacquisitionofSeaDeepShipyardPte. Ltd., thecashgeneratingunit (CGU).
Group
2014
2013
$
$
SeaDeepShipyardPte. Ltd.
7,551,331
7,551,331
The recoverable amount of the CGU has been determined based on value in use calculations using cash
flowprojections fromfinancialbudgetsapprovedbymanagementcoveringafive-yearperiod.Management
have considered anddetermined the factors applied in these financial budgets.
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31December 2014
