168 CSE GLOBAL LIMITED NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2023 5. INVESTMENT IN SUBSIDIARIES AND AMOUNTS DUE FROM/(TO) SUBSIDIARIES (CONT’D) Acquisition of businesses in 2022 (cont’d) Acquisition of business in United Kingdom (cont’d) Transaction costs Transaction costs relating to the acquisition were not significant. Goodwill arising from acquisition The goodwill arising from the acquisition of DTS comprises the value of strengthening the Group’s market position in provision of communication systems in United Kingdom. Impact on the acquisition on profit or loss Since the acquisition date, DTS had contributed GBP 4,571,000 (approximately $7,755,000) of revenue. If the business combination had taken place at the beginning of the year, revenue contributed would have been GBP 4,753,000 (approximately $8,087,000). Amounts due from subsidiaries Company 2023 2022 $’000 $’000 Amounts due from subsidiaries, current: Trade 8,369 1,858 Non-trade 55,466 115,376 Short term loans 56,423 52,569 120,258 169,803 Amounts due from subsidiaries denominated in foreign currencies at 31 December are as follows: Company 2023 2022 $’000 $’000 United States Dollars 86,831 122,287 British Pounds Sterling 7,682 7,887 Australia Dollars 13,586 7,645
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