14. ASSETS HELD FOR SALE
 

The Group has refined its operational structure into three distinct operating units to allow for leaner and more agile core businesses with separate capital and governance structures. On 11 December 2018, the Group announced that opportunities would be explored for the sale of certain non-core assets, of which many have been sold during the current and previous reporting period. There continues to be a number of businesses approved for sale and for which the sale is expected to be completed within 12 months from the reporting date. These businesses are classified as disposal groups held for sale and the assets and liabilities of these disposal groups have been presented as held for sale.

The major classes of assets and liabilities of the disposal groups, per reportable segment, classified as held for sale are as follows:
 
Figures in Rand thousand  iOCO     NEXTEC     IP     2020    
Assets 
Property, plant and equipment  2 513     101 932     140 373     244 818    
Goodwill and intangible assets  406     88 863     860 127     949 396    
Equity-accounted investments  11 000     –     –     11 000    
Other financial assets  –     13 811     5 060     18 871    
Deferred taxation  –     21 152     9 979     31 131    
Finance lease receivables  –     1 197     479     1 676    
Inventories  –     3 804     19 472     23 276    
Current taxation receivable  2 925     2 712     14 078     19 715    
Trade and other receivables  53 547     225 513     244 680     523 740    
Cash and cash equivalents  205     171 938     156 600     328 743    
Assets held for sale  70 596     630 922     1 450 848     2 152 366    
Liabilities 
Other financial liabilities  (12 739)    –     (16 777)    (29 516)   
Lease liabilities  –     (27 834)    (56 709)    (84 543)   
Deferred taxation  –     (1 389)    (30 094)    (31 483)   
Current taxation payable  –     (22 364)    (15 343)    (37 707)   
Trade and other payables  (51 292)    (319 702)    (279 849)    (650 843)   
Liabilities directly associated with assets held for sale  (64 031)    (371 289)    (398 772)    (834 092)   
Net assets directly associated with the disposal groups  6 565     259 633     1 052 076     1 318 274    
Cumulative amounts recognised in other comprehensive income 
Foreign currency translation reserve  (933)    (45)    (20 808)    (21 786)   
Impairment loss for write-down to fair value less costs to sell 
Continuing operations - operating expenses  (57 175)    (32 350)    –     (89 525)   
Discontinued operations (note 15) (63 108)    (65 736)    (60 000)    (188 844)   
(120 283)    (98 086)    (60 000)    (278 369)   

Figures in Rand thousand  iOCO  NEXTEC  IP  Restated*
2019  
Assets 
Property, plant and equipment  85 122  128 076  4 027  217 225  
Goodwill and intangible assets  795  358 272  12 853  371 920  
Equity-accounted investments  72 468  –  –  72 468  
Other financial assets  –  7 710  (421) 7 289  
Deferred taxation  261  24 734  2 220  27 215  
Inventories  4 980  30 166  –  35 146  
Current taxation receivable  575  2 584  –  3 159  
Trade and other receivables  99 625  532 357  88 239  720 221  
Cash and cash equivalents  47 919  221 110  41 344  310 373  
Assets held for sale  311 745  1 305 009  148 262  1 765 016  
Liabilities 
Other financial liabilities  (978) (4 433) (3 837) (9 248) 
Lease liabilities  –  –  (240) (240) 
Deferred taxation  (233) (467) (1 873) (2 573) 
Current taxation payable  330  (11 566) (2 614) (13 850) 
Trade and other payables  (105 586) (404 772) (34 270) (544 628) 
Liabilities directly associated with assets held for sale  (106 467) (421 238) (42 834) (570 539) 
Net assets directly associated with the disposal groups  205 278  883 771  105 428  1 194 477  
Cumulative amounts recognised in other comprehensive income 
Foreign currency translation reserve  4 709  2 021  (926) 5 804  
Impairment loss for write-down to fair value less costs to sell 
Continuing operations – operating expenses  –  (22 172) –  (22 172) 
Discontinued operations (note 15) (135 374) (450 994) (41 799) (628 167) 
(135 374) (473 166) (41 799) (650 339) 
* Refer to note 3 - Restatement of consolidated annual financial statements.