SAMP 2003-01-01 2003-12-31 iso4217:USD On 14 January 2002, a building with a net book value of $1,695,000 was severly damaged by flooding. It is expected that insurance proceeds will fall short of the costs of rebuilding and loss of stocks by $750,000. 2002-01-14 Subsequent to 31 December 2001, the court administration proceedings relating to ABC Limited (see note 19) were completed and an application was made to wind-up the company. No further distributions to the Group are anticipated. The Group has no obligation to meet outstanding liabilities of ABC Limited. 2002-01-01 On 1 March 2002 the Group acquired a 100% interest in XYZ Limited which manufactures paints and is incorporated in Singapore. The consideration of LC 7,950 was settled in cash. The fair value of the net identifiable assets of the company at the date of acquisition was LC 5,145. This acquisition has not been recognised in the Group's 2001 financial statements. Goodwill arising on this acquisition of LC 2,805 will be amortised on a straight line basis over 10 years, reflecting the importance of this acquisition in expanding the Group's market coverage in the paints industry. The operating results and assets and liabilities of XYZ Limited will be consolidated with effect from 1 March 1999. 2002-03-01