Annual Report 2011 - Hongkong Land

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13 Associates and Joint Ventures 2011 2010 US$m US$m Share of unlisted associates and joint ventures’ net assets 3,551.8 3,132.2 Goodwill on acquisition – 45.5 3,551.8 3,177.7 The Group’s share of assets, liabilities, capital commitments and contingent liabilities of associates and joint ventures are summarised below: Non-current assets 3,306.2 2,986.1 Current assets 1,547.1 1,142.4 Current liabilities (592.5) (497.0) Non-current liabilities (660.6) (496.4) Non-controlling interests (48.4) (2.9) 3,551.8 3,132.2 Capital commitments 55.6 112.4 Contingent liabilities 64.8 36.6 Movements of associates and joint ventures for the year: At 1st January 3,177.7 2,352.2 Exchange differences (14.2) 89.9 Share of results after tax and non-controlling interests 298.0 905.3 Share of other comprehensive income after tax and non-controlling interests 2.8 80.8 Dividends received and receivable (56.3) (270.5) Net acquisitions and increases in attributable interests 146.2 17.9 Others (2.4) 2.1 At 31st December 3,551.8 3,177.7 Annual Report 2011 45
Notes to the Financial Statements 14 Other Investments 2011 2010 US$m US$m Listed securities 46.5 57.2 Unlisted securities 2.1 2.0 48.6 59.2 Movements for the year: At 1st January 59.2 46.4 Exchange differences 0.1 (0.2) Additions – 2.0 Net revaluation (deficit)/surplus (10.7) 11.0 At 31st December 48.6 59.2 The fair value measurements of available-for-sale financial assets are based on the following data: Quoted prices in active markets 46.5 57.2 Unobservable inputs 2.1 2.0 48.6 59.2 15 Deferred Tax Assets and Liabilities Revaluation Accelerated surpluses of Other capital investment temporary Tax losses allowances properties differences Total US$m US$m US$m US$m US$m 2011 At 1st January 1.0 (46.2) (1.0) (1.5) (47.7) Exchange differences – (0.1) – – (0.1) (Charged)/credited to profit and loss 0.4 (4.2) (0.9) (1.2) (5.9) Charged to other comprehensive income – – – (0.2) (0.2) At 31st December 1.4 (50.5 ) (1.9 ) (2.9 ) (53.9 ) Deferred tax assets 1.4 – – 4.1 5.5 Deferred tax liabilities – (50.5) (1.9) (7.0) (59.4) 1.4 (50.5 ) (1.9 ) (2.9 ) (53.9 ) 46 Hongkong Land
Page 1 and 2: Annual Report 2011 Hongkong Land Ho
Page 3 and 4: is one of Asia’s leading property
Page 5 and 6: Highlights • Strong commercial le
Page 7 and 8: People The Group’s excellent repu
Page 9 and 10: Top five office tenants (in alphabe
Page 11 and 12: In 2012, the final office tower of
Page 13 and 14: space, including villas, townhouses
Page 15 and 16: a significant number of convertible
Page 17 and 18: Treasury Policy The Group manages i
Page 19 and 20: Gross Assets The Group’s gross as
Page 21 and 22: Lord Leach of Fairford Lord Leach h
Page 23 and 24: Consolidated Statement of Comprehen
Page 25 and 26: Consolidated Statement of Changes i
Page 27 and 28: Notes to the Financial Statements 1
Page 29 and 30: 1 Principal Accounting Policies con
Page 35 and 36: 2 Financial Risk Management continu
Page 37 and 38: 2 Financial Risk Management continu
Page 39 and 40: 3 Critical Accounting Estimates and
Page 45: Notes to the Financial Statements 1
Page 63 and 64: Five Year Summary 2007 2008 2009 20
Page 65 and 66: Corporate Governance Hongkong Land
Page 67 and 68: Corporate Governance Code of Conduc
Page 69 and 70: Principal Risks and Uncertainties T
Page 71 and 72: Offices Offices Hongkong Land Holdi
Page 73 and 74: Major Property Portfolio at 31st De
Page 75 and 76: Major Property Portfolio hong kong
Page 77 and 78: eijing, CHINA The Newly Acquired Wa
Page 79: Hongkong Land Holdings Limited Jard

Annual Report 2011 - Hongkong Land

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