Untitled - Swissco Holdings Limited
Untitled - Swissco Holdings Limited
Untitled - Swissco Holdings Limited
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NOTES TO THE FINANCIAL STATEMENTS<br />
For the financial year ended 31 December 2005<br />
18. Investments in Associated Companies<br />
The Group<br />
The Company<br />
2005 2004 2005 2004<br />
$ $ $ $<br />
Unquoted equity shares, at cost 3,450,647 2,174,512<br />
Balance at beginning of the<br />
financial year 3,223,143 2,174,512<br />
Share of profits 1,938,755 1,048,631<br />
Effect on the Restructuring of<br />
associated companies (note 6(i)) 1,201,000 –<br />
Deemed disposals (note 6(ii)) 196,000 –<br />
Transfer from available-for-sale<br />
financial assets (note 16) 15,000 –<br />
Currency translation difference (70,000) –<br />
Dividend declared (440,000) –<br />
Balance at end of the financial year 6,063,898 3,223,143<br />
The summarised financial information of associated companies is as follows:<br />
The Group<br />
2005 2004<br />
$ $<br />
Assets 49,097,275 26,797,386<br />
Liabilities 21,786,405 19,617,769<br />
Revenues 30,645,260 24,756,837<br />
Net profit 10,289,459 3,434,909<br />
Investments in associated companies at 31 December 2005 include goodwill of $780,000. (2004: Nil).<br />
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