12. Interest in Associates
Company
Group
1985
1984
1985
1984
Unlisted shares, at cost
8,338
8,338
Share of accumulated post
acquisition losses
(18,486)
(5,240)
Amounts due from associates
less provision
18,425
8,089
43,637
30,798
18,425
8,089 33,489
33,896
activities
Place of
Description of Percentage held Principal
Name of Associates
incorporation
shares held
indirectly
Authian Estates Limited
Hong Kong
"A" Ordinary
50%
Sealink Ferries Limited
Hong Kong
Ordinary
41.6%
Property ownership and development Ferry operations
A subsidiary has charged, as a beneficial owner, all its shares in an associate by way of a first fixed charge as a continuing security for credit facilities made available to that associate up to the extent of $8,333,000 (1984 – $8,333,000).
Included in the amounts due from associates of the Group is an interest free subordinated loan of $16,667,000 (1984 - $16,667,000) which is only repayable at the discretion of the associate.
13. Other Investments
Company
Group
1985
1984
1985
1984
Unlisted shares, at cost
Investment in hotel project
in Guangzhou, China, at cost
170
170
193
193
5,447
5,447
5,447
5,447
5,617
5,617
5,640
5,640
Less: Provision for diminution in value
2,218
1,040
2,241
1,063
3,399
4,577
3,399
4,577
16