- 2009.09 TRADELINK
Company Name: Tradelink Electronic Commerce LimitedStock Code: 536Year end: June 30, 2009
Basis for qualified conclusion
In respect of the interim financial report for the six-month period ended 30 June 2008, we qualified our review conclusion in our review report dated 2 September 2008 on the grounds of non-compliance with Hong Kong Accounting Standard 36 (HKAS 36), Impairment of assets, issued by the Hong Kong Institute of Certified Public Accountants. Specifically, although there were indications of possible impairment in the carrying value of long lived assets of an associate as at 30 June 2008, the recoverable amount of such long lived assets as at that date had not been estimated. Any impairment loss recognised against the carrying value of such long lived assets as at 30 June 2008 would have reduced the group’s share of the results of the associate and hence the group’s profit for the six-month period ended 30 June 2008. These income statement amounts are included uncorrected as comparative amounts in the interim financial report for the six months ended 30 June 2009. However, this issue has no impact on the comparative amounts in respect of the balance sheet, or the amounts reported in respect of the group’s profit for the six month period ended 30 June 2009, as the matter was properly resolved in the preparation of the annual financial statements for the year ended 31 December 2008.
Based on our review, with the exception of the matter relating to the comparative amounts for the consolidated income statement in respect of the six-month period ended 30 June 2008 described in the preceding paragraph, nothing has come to our attention that causes us to believe that the interim financial report as at 30 June 2009 is not prepared, in all material respects, in accordance with Hong Kong Accounting Standard 34, Interim financial reporting.