Page 114 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
112
COSCO Corporation (Singapore) Limited
F i nanc i a l Statement s
20. Investments in associated companies
The Group
2013 2012
$’000 $’000
Beginning of financial year 4,235 4,102
Currency translation differences 282 (203)
Share of profit after tax 407 580
Dividends declared, net of tax (98) (244)
End of financial year 4,826 4,235
The summarised financial information of associated companies, not adjusted for the proportion of ownership interest
held by the Group, is as follows:
- Assets 32,365 35,573
- Liabilities 16,516 21,677
- Revenue 32,507 28,153
- Net profit 1,277 1,845
Details of associated companies are set out below:
Name of
associated companies Principal activities
Country of
incorporation/
business
% of
paid-up
capital held by
subsidiaries
2013
%
2012
%
DMI (Guangzhou) Ltd (i) Overhaul and spare-parts
replacement and repair
People’s
Republic
of China
(“PRC”)
30 30
Tru-Marine Cosco (Tianjin) Engineering Co., Ltd (i) Overhaul and spare-parts
replacement and repair
PRC 40 40
Diesel Marine International (Nantong) Co., Ltd (i) Overhaul and spare-parts
replacement and repair
PRC 30 30
Diesel Marine Dalian Ltd (i) Overhaul and spare-parts
replacement and repair
PRC 30 30
(i) Audited by Ruihua Certified Public Accountants, PRC.