QUESTION 1 PART A ORYX PROPERTIES LIMITED Oryx Properties is one of the largest property investment...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
QUESTION 1 PART A ORYX PROPERTIES LIMITED Oryx Properties is one of the largest property investment funds that are listed on the Namibia Stock exchange. Over the years, the company has experienced massive growth in its operations. Speaking about growth, Oryx Properties has managed to diversify their portfolio by acquiring exciting assets and they are still committed to continuous growth. The property giant is listed on the NSE with a N$3 billion property portfolio and has esteemed exposure to different real estate industry segments. As part of its strategic growth for 2025, the company aims to grow their property portfolio to N$4.5 billion geographically within Namibia. Oryx Properties and all companies within the group have a 31 October year end. During the past two financial years (i.e. 2022 and 2023), the group has managed to secure acquisitions of two major segments namely, DDN (PTY) Ltd and Dunes Mall (PTY) Ltd. ACQUISITION OF DDN (PTY) Ltd Oryx Properties enters into and reached agreements to acquire 80% of DDN on 1 December 2021. DDN is a real estate company that specializes in building small and medium shopping centers. Oryx paid N$ 20000000 cash, N$ 500000 on 31 November 2022. The discount rate is 10%. DDN also gave an equipment with the value of N$3000000 (Carrying value = N$ 1500000) to the previous owners of DDN and promised to pay additional about of N$ 300000 if DDN achieve success in all its projects two years from acquisition date. To complete this massive transaction, Oryx had to pay their Lawyers an amount of N$50000. NCI was valued at proportionate share of subsidiary's net assets at acquisition date. DDN's share capital were N$ 14000000. The mark-to- market reserves in the 2022 and 2023 financial years were 4000 and 3000 respectively. At acquisition date, all the assets and liabilities for DDN were fairly valued with an exception of the following items. 1. An item of land which was undervalued by N$ 800000. 2. A provision which was overvalued by N$ 400000 3. A heavy duty vehicle which had a Fair value of 50000. This vehicle was acquired in 1 November 2017 at a cost of N$ 900000 and total useful life was 8 years at acquisition date with nil residual value. QUESTION 1 PART A ORYX PROPERTIES LIMITED Oryx Properties is one of the largest property investment funds that are listed on the Namibia Stock exchange. Over the years, the company has experienced massive growth in its operations. Speaking about growth, Oryx Properties has managed to diversify their portfolio by acquiring exciting assets and they are still committed to continuous growth. The property giant is listed on the NSE with a N$3 billion property portfolio and has esteemed exposure to different real estate industry segments. As part of its strategic growth for 2025, the company aims to grow their property portfolio to N$4.5 billion geographically within Namibia. Oryx Properties and all companies within the group have a 31 October year end. During the past two financial years (i.e. 2022 and 2023), the group has managed to secure acquisitions of two major segments namely, DDN (PTY) Ltd and Dunes Mall (PTY) Ltd. ACQUISITION OF DDN (PTY) Ltd Oryx Properties enters into and reached agreements to acquire 80% of DDN on 1 December 2021. DDN is a real estate company that specializes in building small and medium shopping centers. Oryx paid N$ 20000000 cash, N$ 500000 on 31 November 2022. The discount rate is 10%. DDN also gave an equipment with the value of N$3000000 (Carrying value = N$ 1500000) to the previous owners of DDN and promised to pay additional about of N$ 300000 if DDN achieve success in all its projects two years from acquisition date. To complete this massive transaction, Oryx had to pay their Lawyers an amount of N$50000. NCI was valued at proportionate share of subsidiary's net assets at acquisition date. DDN's share capital were N$ 14000000. The mark-to- market reserves in the 2022 and 2023 financial years were 4000 and 3000 respectively. At acquisition date, all the assets and liabilities for DDN were fairly valued with an exception of the following items. 1. An item of land which was undervalued by N$ 800000. 2. A provision which was overvalued by N$ 400000 3. A heavy duty vehicle which had a Fair value of 50000. This vehicle was acquired in 1 November 2017 at a cost of N$ 900000 and total useful life was 8 years at acquisition date with nil residual value.
Expert Answer:
Answer rating: 100% (QA)
5 The three categories of immigration status are a Permanent Residency Permanent residency refers to a status granted to foreign nationals who are authorized to live and work in a country indefinitely ... View the full answer
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
Posted Date:
Students also viewed these finance questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
S1 Ltd and S2 Ltd belong to the same capital gains group. In May 2014, S1 Ltd transferred a chargeable asset to S2 Ltd. This asset had originally cost 10,000 and its market value in May 2014 was...
-
The article "Modeling Sediment and Water Column Interactions for Hydrophobic Pollutants" (Water Research, 1984: 1169-1174) suggests the uniform distribution on the interval (7.5, 20) as a model for...
-
A single slit 1.0 mm wide is illuminated by 450-nm light. What is the width of the central maximum (in cm) in the diffraction pattern on a screen 6.0 m away?
-
Oncology Tech is a manufacturer of cancer therapy devices called compensators. CMS was a company that sold cancer treatment planning software for use in purchasing cancer treatment devices. In 2006,...
-
The Wetski Water Ski Company is the worlds largest producer of water skis. As you might suspect, water skis exhibit a highly seasonal demand pattern, with peaks during the summer months and valleys...
-
Discuss similarities and differences of A. MongoDB, B. Amazon (AWS) database management system to relational database management systems. Indicate the benefits or disadvantages you associate with the...
-
Let's assume that the economy was operating at full employment before the pandemic. However, when the pandemic hit, many parts of the economy shut down, causing a decrease in labor demand and...
-
Identify the three most common forms of equity funding.
-
What is a niche market? Provide examples of niche markets in the womens clothing industry.
-
Ann Perkins is a sales representative for The Pampered Chef, a direct sales organization that sells kitchen utensils and related products. Ann, who lives near Houston, is thinking about leaving The...
-
Nancy Wills is purchasing a business named Niagara Laser Optics near Buffalo, New York. The business has had several brushes with the law during the past several years, dealing with claims of false...
-
Describe the impact of a firms pricing structure on its business model.
-
Describe the accounting required by the GASB for municipal solid waste land ute and post closure care costs.
-
In what ways does a well-designed enterprise search software vary from popular search engines (e.g., Bing, DuckDuckGo, and Google)?
-
Discuss the relationship between objective and strategy in pricing.
-
Exchange rate fluctuations between the Japanese yen, the euro, and the US dollar have posed serious problems for Strato Designs (the name of the company is disguised). The California company produces...
-
Introduction In 2010, New United Motor Manufacturing, Inc., a unique and highly successful joint venture between Americas General Motors and Japans Toyota, went out of business. NUMMI, as the...
-
What are presumptions, and why are they important?
-
What is the burden of proof in a criminal trial? How does it compare to the burden of proof in a civil trial?
-
Distinguish between adversarial and inquisitorial justice.
Study smarter with the SolutionInn App