NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
111
Annual Report 2014
19.
Club memberships
The Group
The Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Transferable club memberships,
at cost
669
664
428
428
Currency translation differences
6
5
–
–
Allowance for impairment in value
of club memberships
(372)
(366)
(346)
(340)
303
303
82
88
20.
Investments in associated companies
The Group
2014
2013
$’000
$’000
Beginning of financial year
4,826
4,235
Currency translation differences
107
282
Share of (loss)/profit after tax
(197)
407
Dividends declared, net of tax
–
(98)
End of financial year
4,736
4,826
Set out below are the associated companies of the Group as at 31 December 2014. The directors are of
the opinion that the associated companies are immaterial to the Group individually and in aggregate and
accordingly, no summarised financial information of the associated companies is disclosed.
The associated companies as listed below have share capital consisting solely of ordinary shares, which
are held directly by the Group; the country of incorporation is also their principal place of business. There
are no contingent liabilities relating to the Group’s interest in the associated companies.
Name of
associated companies
Principal activities
Country of
incorporation/
business
% of
paid-up
capital held by
subsidiaries
2014
%
2013
%
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.
