Notes to the Financial Statements
(Cont’d)
For the year ended 30 April 2015
(In Singapore Dollars)
ANNUAL REPORT 2015
74
BUILDING ON OUR EXTENSIVE NETWORK
14. Joint venture companies (cont’d)
A reconciliation of the summarised financial information to the carrying amounts of Tyre Pacific (HK)
Limited and Falken Tyre India Private Limited is as follows:
Group
2015
2014
$’000
$’000
Tyre Pacific (HK) Limited
Group share of 50% of net assets
13,729
13,640
Falken Tyre India Private Limited
Group share of 40% of net assets
2,168
2,471
Details of the joint venture companies are set out in Note 40.
15. Associated company
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Unquoted equity shares, at cost
72
72
72
72
Share of post-acquisition reserves
341
341
–
–
Foreign currency translation adjustment
(180)
(180)
–
–
233
233
72
72
Less: Impairment loss
–
–
(72)
(72)
233
233
–
–
The summarised financial information of the associated company, not adjusted for the proportion of
ownership interest held by the Group, is as follows:
2015
2014
$’000
$’000
Assets and liabilities:
Total assets
467
452
Total liabilities
(2)
(2)
Net assets
465
450
Details of the associated company are set out in Note 40.
