Annual Report 2015
FINANCIAL SECTION
169
21 INTERESTS IN JOINT VENTURES
2015
2014
HK$m
HK$m
Equity joint ventures/joint ventures in wholly foreign owned enterprises
Group’s share of net assets
5,696.4
5,470.4
Goodwill on acquisition
2.2
2.2
Amounts receivable less provision (note (a))
2,380.8
2,291.9
8,079.4
7,764.5
Co-operative joint ventures
Cost of investment less provision
6,838.5
6,939.1
Share of undistributed post-acquisition results
3,324.8
3,012.0
Amounts receivable less provision (note (a))
4,768.2
3,750.3
14,931.5
13,701.4
Companies limited by shares
Group’s share of net assets
12,047.8
11,526.8
Goodwill on acquisition
1,475.5
1,475.5
Amounts receivable less provision (note (a))
12,917.7
10,659.4
26,441.0
23,661.7
Deposits paid for a joint venture
–
620.6
49,451.9
45,748.2
Notes:
(a) Amounts receivable less provision are analysed as follows:
2015
2014
HK$m
HK$m
Interest bearing
Fixed rates (note (i))
862.5
483.8
Floating rates (note (ii))
2,965.1
5,284.4
Non-interest bearing
16,239.1
10,933.4
20,066.7
16,701.6
(i)
Carry interest rates ranging from 8.5% to 10.0% (2014: 8.5% to 10.0%) per annum.
(ii) Carry interest rates ranging from 2.0% over HIBOR to People’s Bank of China rate (2014: 0.875% over HIBOR to
People’s Bank of China rate) per annum.
These amounts are unsecured. Their carrying amounts are not materially different from their fair values.
The amounts receivable form part of the Group’s interests in joint ventures.
