NewWorld Development Company Limited
FINANCIAL SECTION
170
21 INTERESTS IN JOINT VENTURES
(continued)
Notes: (continued)
(b) There is no joint venture that is individually material to the Group. The Group’s share of results of the joint ventures are as
follows:
2015
2014
HK$m
HK$m
For the year ended 30 June
Profit for the year
4,319.2
1,994.5
Other comprehensive income for the year
(221.0)
(358.7)
Total comprehensive income for the year
4,098.2
1,635.8
(c) Management regularly reviews whether there are any indications of impairments of the Group’s interests in joint ventures
based on value-in-use calculations. An impairment loss of HK$300.0 million was made for the Group’s interest in Guangzhou
Dongxin Expressway for the year ended 30 June 2015. Aside from this, management is of the view that there is no other
impairment of the Group’s interests in joint ventures as at 30 June 2015.
(d) Details of principal joint ventures are stated in note 50.
22 INTERESTS IN ASSOCIATED COMPANIES
2015
2014
HK$m
HK$m
Group’s share of net assets
Hong Kong listed shares
4,985.2
7,694.1
Overseas listed shares
1,081.0
–
Unlisted shares
8,621.5
6,625.6
14,687.7
14,319.7
Goodwill
794.7
794.7
Amounts receivable less provision (note (a))
2,249.3
1,879.6
17,731.7
16,994.0
Market value of listed shares (note (b))
6,396.2
4,722.4
Notes:
(a) Amounts receivable less provision are analysed as follows:
2015
2014
HK$m
HK$m
Interest bearing
Fixed rate (note (i))
148.5
143.5
Floating rate (note (ii))
967.8
850.3
Non-interest bearing
1,133.0
885.8
2,249.3
1,879.6
(i)
Carry interest rate ranging from 6.0% to 8.0% (2014: 6.0% to 8.0%) per annum.
(ii) Carry interest rate ranging from 1.3% over HIBOR to 2.75% over LIBOR (2014: 0.58% over HIBOR to 1.3% over
HIBOR) per annum.
The amounts were unsecured and not repayable within 12 months. Their carrying amounts were not materially different
from their fair values.
