2007 / 2008 Annual Report - Eastern Cape Development Corporation

EASTERN CAPE DEVELOPMENT CORPORATION 2007/08NOTES TO THECONSOLIDATED ANNUAL FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 20086 Loans to / (from) subsidiaries and associates (continued)Except for the loans with the Centre for Investment and Marketing in the Eastern Cape (Association incorporatedunder section 21) and Transdev Properties (Proprietary) Limited, which bear interest as disclosed above, all loans areunsecured, do not bear interest and have no fixed terms of repayment.AssociatesBushman Sands Developments (Proprietary) LimitedThe loan is secured by surety from the Mantis Group, bears interest at prime plus 1%and is repayable by 30 June 2012.Worthytrade 93 (Proprietary) LimitedCHMF Briquettes (Proprietary) LimitedNan-Shen Foods (Proprietary) LimitedSubtotalImpairment of loans to subsidiaries2008R’00035,946Group4,333--40,279(9,841)2007R’00033,5334,3332837,876(9,129)2008R’000Corporation35,9464,333--40,279(9,841)Total loans to / (from) associates 30,438 28,747 30,438 28,747Non-current assetsNon-current liabilities7 Investments33,765-28,782-55,297(56,623)2007R’00033,5334,333--37,866(9,119)57,620(52,031)33,765 28,782 (1,326) 5,589Available for saleListed sharesUnlisted shares72382,7707304,700-82,770-4,70083,493 5,430 82,770 4,700Held to maturityFixed term investmentsOther investments48,78911,89143,49410,89548,78911,89143,49410,89560,680 54,389 60,680 54,389Total investments 144,173 59,819 143,450 59,089Analysis of available-for-sale investmentsListed shares at fair valueUnlisted shares at costUnlisted shares at fair value7237,77075,0007303,879821-7,77075,000-3,87982183,493 5,430 82,770 4,700Non-current assetsAvailable for saleHeld to maturity83,49360,6805,43054,38982,77060,6804,70054,389144,173 59,819 143,450 59,089Total amount of change in fair value recognised directly in equity (Note 13) 74,173 - 74,180 -88