Positioning for the Future | 149
Appendix
8
JOINT VENTURES
The Group
2014
$’000
2013
$’000
Restated
(a) Investment in joint ventures
3,411,150
2,966,945
Less
Allowance for impairment loss
(12,433)
(10,633)
3,398,717
2,956,312
Add
Amounts due from joint ventures
Loan accounts
- interest free
583,756
657,157
- interest bearing
21,692
61,625
605,448
718,782
4,004,165
3,675,094
Less
Allowance for doubtful receivables
(13,004)
(12,779)
3,991,161
3,662,315
(i) Movements in allowance for impairment loss were as follows
The Group
Note
2014
$’000
2013
$’000
At 1 January
(10,633)
(10,633)
Allowance during the year
27(c)(iii)
(1,800)
(5,493)
#
Allowance utilised upon disposal of a subsidiary
–
5,493
At 31 December
(12,433)
(10,633)
#
Related to a discontinued operation.
(ii) The loans to joint ventures form part of the Group’s net investment in joint ventures. These loans are
unsecured and settlement is neither planned nor likely to occur in the foreseeable future.
(iii) As at 31 December 2014, the effective interest rates for the loans to joint ventures ranged from 5.00%
to 7.00% (2013 0.95% to 7.00%) per annum.
Notes to the Financial Statements
Year ended 31 December 2014
