Mondi Limited

Notes to the financial statements and
consolidated financial statements
continued
for the year ended 31 December 2010
13 Investments in associates
R million 2010 2009
At 1 January 30 31
Net income from associates 3 –
Dividends received – (1)
Investment in associates 20 –
Other 3 –
At 31 December 56 30
The Group’s total investment in associates comprises:
R million 2010 2009
Equity 1 56 30
Total investments in associates 56 30
Note:
1 As at 31 December 2010, there is R15 million of goodwill in respect of associates (2009: R5.5 million).
Group
The Group’s share of the summarised financial information of principal associates, all of which are unlisted, is as follows:
R million 2010 2009
Total non-current assets 20 12
Total current assets 72 41
Total current liabilities (20) (11)
Total non-current liabilities (21) (12)
Share of associates’ net assets (including share of losses) 51 30
Unrecognised losses in associates 5 –
Share of associates’ net assets 1 56 30
Total revenue 167 101
Total operating costs (163) (101)
Income tax expense (1) –
Share of associates’ profit for the financial year 3 –
Note:
1 There are no material contingent liabilities for which the Group is jointly or severally liable at the reporting dates presented.
14 Investments in joint ventures
Company
R million 2010 2009
Mondi Shanduka Newsprint (Proprietary) Limited (MSN)
Shareholder’s loan 128 128
Mezzanine loan 240 121
Total investments in joint ventures 368 249
Repayable within one year classified as current asset – –
Total long-term investments in joint ventures 368 249
48 Annual report and accounts 2010