11. Interest in Associated Companies
Company
Group
1983
1982
1983
1982
Unquoted shares, at cost
8,338
1,755
Amount due from associated
companies less provision
7,067
6,685
25,961
10,207
7,067
6.685
34,299
11,962
Name of Associates
Authian Estates Limited Sealink Ferries Limited
Place of Incorporation Hong Kong Hong Kong
Description of shares held
Percentage held
indirectly
"A" Ordinary Ordinary
50%
41.6%
Sealink Ferries Limited, an affiliated company became an associated company of the Group during the year as a result of the acquisition by a subsidiary company of additional beneficial interest in the said company.
A subsidiary company has charged, as a beneficial owner, all its shares in an associated company by way of a first fixed charge as continuing security for credit facilities made. available to that associated company up to the extent of $8,333,000 (1982 - $2,500,000)
Included in the amount due from associated companies of the Group is an interest free subordinated loan of $16,667,000 (1982 - $3,500,000) which is only repayable at the discretion of the associated company.
12. Other Investments
Company
Group
1983
1982
1983
1982
Unquoted shares, at cost
170
170
193
193
Investment in hotel project
in Guangzhou, China, at cost
5,447
5,447
5,447
5,447
5,617
5,617
5,640
5,640
Less: Provision for
diminution in value
557
125
580
148
5,060
5,492
5,060
5,492
16