Annual Report 2012 - ecoWise Holdings Limited

ecoWise Holdings Limitedannual report 201210331 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS17. INVESTMENTS IN SUBSIDIARIESCompany2012 2011$’000 $’000Unquoted equity shares, at cost 19,524 19,524Less: Allowance for impairment loss (1,450) (1,450)18,074 18,074Loans to subsidiaries 7,871 30625,945 18,380Movements in allowance for impairment loss:At beginning of the reporting year 1,450 1,350Impairment loss recognised – 100At end of the reporting year 1,450 1,450Loans to subsidiaries are unsecured and interest-free. The settlement of these amounts is neither plannednor likely to occur in the future. As these amounts are in substance, a part of the Company’s net investmentsin subsidiaries, they are stated at cost less impairment losses.