notes to the financial statements - Far East Orchard Limited

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2008
15. Financial assets at fair value through profit or loss
The Group
2008 2007
$’000 $’000
Beginning of financial year 17,293 17,626
Addition - 2
Disposal - (132)
Unrealised fair value losses (Note 4) (7,811) (203)
End of financial year 9,482 17,293
Designated as:
- fair value on initial recognition 9,482 17,293
Financial assets at fair value through profit or loss comprise of equity securities listed in Singapore.
16. Other current assets
The Group The Company
2008 2007 2008 2007
$’000 $’000 $’000 $’000
Deposits 87 464 10 105
Prepayments and other 263 150 130 112
17. Investments in associated companies
350 614 140 217
(a) The Group
2008 2007
$’000 $’000
Beginning of financial year 300,868 294,593
Share of (loss)/profit (2,058) 1,944
Gain arising on dilution of interest in an associated company (Note 4) - 2,389
Share of asset revaluation surplus [Note 29(b)(i)] 7,291 6,164
Share of movement in currency translation reserve [Note 29(b)(ii)] (1,316) 109
Share of fair value losses on available-for-sale financial assets [Note 29(b)(iii)] (19,053) (3,466)
Dividends received, net of tax - (865)
End of financial year 285,732 300,868
The summarised financial information of associated companies are as follows:
- Assets 592,471 662,500
- Liabilities (177,025) (216,589)
- Revenue 414,363 436,974
- Net (loss)/profit (4,514) 1,629
Goodwill amounting to $108,968,000 (2007: $108,968,000) relating to the Group’s investment in an associated
company, Yeo Hiap Seng Limited (“YHS”), a company listed on the Singapore Exchange, is included in the carrying
amount of investments in associated companies.
ORCHARD PARADE HOLDINGS LIMITED ANNUAL REPORT 2008 51