146 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
7
ASSOCIATES
(cont’d)
The Group
Note
2014
$’000
2013
$’000
Restated
(b) Amounts due from/(to) associates
Current accounts (unsecured)
- interest free (trade)
31,086
35,657
- interest free (non-trade)
34,479
87,466
- interest bearing (non-trade)
276,715
338,511
342,280
461,634
Less
Allowance for doubtful receivables
–
(2,544)
12
342,280
459,090
Current accounts (mainly non-trade and unsecured)
- interest free
(214,004)
(178,826)
- interest bearing
(132,523)
(389,284)
17
(346,527)
(568,110)
Non-current loans (unsecured)
- interest free
–
(276)
- interest bearing
(136,385)
(145,855)
21
(136,385)
(146,131)
(c) The Group has three (2013 three) associates that are material and a number of associates that are individually
immaterial to the Group. All are equity-accounted. The following are the material associates
Effective interest
Name of Company
Nature of relationship
with the Group
Principal place
of business
2014
%
2013
%
CapitaMall Trust
1
(CMT)
Singapore-based REIT
Singapore
27.7
18.1
which invests in shopping
malls in Singapore
CapitaRetail China Trust
1
(CRCT)
Singapore-based REIT
China
26.9
16.7
which invests in shopping
malls in China
Rafnes City China Fund Ltd
2,3
(RCCF) Private equity fund which
China
55.0
49.8
invests in mve Rafnes City
integrated developments
in China
All the above associates are audited by KPMG LLP Singapore.
1
Indirectly held through CapitaMalls Asia Limited.
2
Indirectly held through CapitaMalls Asia Limited and CapitaLand China Holdings Pte Ltd.
3
Considered to be an associate as key decisions are made by an independent board which the Group does not have majority
control.
