Singapore Press Holdings annual report 2011 Singapore Press ...

Notes to the
Financial StatementS
August 31, 2011
132 Singapore Press Holdings annual report 2011
11. INVESTMENTS IN SUBSIDIARIES
Unquoted equities
Company
2011 2010
S$’000 S$’000
Unquoted equities at cost 389,368 387,340
Allowance for impairment* (500) (500)
388,868 386,840
* The allowance for impairment was made to write down the carrying amount of investment in a subsidiary to its recoverable amount
following a review of the subsidiary’s business.
Details of significant subsidiaries are set out in Note 30. A list of other operating subsidiaries of the Group
can be found on pages 175 and 176 of the annual report.
Details of the acquisition and disposal of subsidiaries are set out in Notes 20(b) and 20(c) respectively.
12. INVESTMENTS IN ASSOCIATES
Unquoted equities
Group
Company
2011 2010 2011 2010
S$’000 S$’000 S$’000 S$’000
Beginning of financial year 56,103 45,600 29,326 29,326
Currency translation differences (37) (4) - -
Acquisition of an associate 500 - - -
Additional consideration paid on
interest in an associate 6,250 5,484 - -
Transferred from investment
in a subsidiary [Note 20(c)] 500 - - -
Gain on dilution of an associate - 5 - -
Disposal of associates (73) - - -
Share of net profit of associates 8,317 5,185 - -
Dividends received from associates (2,804) (171) - -
(Allowance)/Write-back of allowance for
impairment of an associate (342) 4 3,783 -
End of financial year 68,414 56,103 33,109 29,326
The summarised financial information of associates, not adjusted for the proportional ownership interest
held by the Group, is as follows:
Group
2011 2010
S$’000 S$’000
Assets 804,933 562,612
Liabilities 617,072 422,254
Revenues 351,386 310,808
Net profit 31,488 11,095
A list of operating associates of the Group can be found on page 177 of the annual report.