Financial Report 2008 - Leighton Holdings

Notes to the Financial Statements continuedfor the year ended 30 June 200824. ASSOCIATES CONTINUEDThe movement in carrying amounts of the Group’s investments in associates is as follows:Consolidated2008$’0002007$’000Carrying amount at beginning of reporting period 137,085 30,444Share of net profit 1,308 16,682Investments in associates acquired during the reporting period 1,091,350 95,578Distributions (56,680) (6,106)Change in associates’ equity value 8,855 487Carrying amount at end of reporting period 1,181,918 137,08525. JOINT VENTURE ENTITIESConsolidatedOwnership InterestPrincipal activity Country 2008 % 2007 %145 Ann Street Trust Property development Australia 50 -233 Castlereagh Street joint venture Property development Australia - 50400 George Street (Qld) Pty Limited Property development Australia - 50400 George Street Development Trust Property development Australia - 50400 George Street Partnership Property development Australia 50 -Abigroup Leighton joint venture Construction Australia - 50ADrail joint venture Construction Australia 20 20Anvil Hill Infrastructure Alliance Construction Australia - 50Bac Devco Pty Limited Property development Australia 33 33Bayview Noosa partnership Property development Australia 50 50Beenyup Alliance Construction Australia 47 47† BJB joint venture Maintenance Australia 38 38China State – Leighton Joint Venture Construction Hong Kong 50 -Cockatoo Iron Ore joint venture Mining Australia 50 50Complete joint venture Construction Australia 50 50Cotter Googong Bulk Transfer joint venture Construction Australia 50 50Dam Improvement Services joint venture Construction Australia 40 40Devine Hamilton Unit Trust Property development Australia 50 -Folkestone/Leighton JV Pty Limited Property development Australia 50 50Freeway Business Park Trust Property development Australia - 50Hassall Street Trust Property development Australia 50 -Holland York joint venture Construction Australia 50 50HPAL Freehold Pty Limited Property development Australia 50 50Infocus Infrastructure Management Pty Limited Facilities management Australia 50 50Leighton Holdings Limited Financial Report 2008 NOTES TO THE FINANCIAL STATEMENTS 28