New World Development Company Limited
162
Financial Section
22 Interests in Associated Companies
2016
2015
HK$m
HK$m
Group’s share of net assets
Hong Kong listed shares
5,107.2
4,985.2
Overseas listed shares
827.2
1,081.0
Unlisted shares
9,844.1
8,621.5
15,778.5
14,687.7
Goodwill
735.7
794.7
Amounts receivable less provision (note (a))
2,542.8
2,249.3
19,057.0
17,731.7
Market value of listed shares (note (b))
5,624.7
6,396.2
Notes:
(a)
Amounts receivable less provision are analysed as follows:
2016
2015
HK$m
HK$m
Interest bearing
Fixed rate (note (i))
109.7
148.5
Floating rate (note (ii))
1,562.3
967.8
Non-interest bearing
870.8
1,133.0
2,542.8
2,249.3
(i)
Carry interest rate of 8.0% (2015: from 6.0% to 8.0%) per annum.
(ii)
Carry interest rate of 1.3% over HIBOR (2015: ranging from 1.3% over HIBOR to 2.75% over LIBOR) per annum.
The amounts were unsecured and not repayable within 12 months. Their carrying amounts were not materially different from their fair
values.
The amounts receivable form part of the Group’s interests in associated companies.
(b)
The market value of the Group’s listed associated companies in Hong Kong and overseas amounted to HK$5,624.7 million (2015:
HK$6,396.2 million). Management regularly reviews whether there are any indications of impairments of the Group’s interests in
associated companies based on value in use calculations, as detailed in note 5(e). An impairment loss of HK$200.0 million was made
for the Group’s interest in Tharisa for the year ended 30 June 2016. Aside from this, management is of the view that there is no other
impairment of Group’s investment in associated companies as at 30 June 2016.
(c)
There is no associated company that is individually material to the Group. The Group’s share of results of the associated companies
are as follows:
2016
2015
HK$m
HK$m
For the year ended 30 June
Profit/(loss) for the year
982.1
(661.9)
Other comprehensive income for the year
(679.0)
(82.3)
Total comprehensive income for the year
303.1
(744.2)
(d)
Details of principal associated companies are stated in note 51.
