NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
15 INTEREST IN ASSOCIATES
The Group 2014
The Company
2013
2014
HK$'000
HK$'000
HK$'000
2013.
HK$'000
Share of net assets
5,442
5,494
Amounts due from associates
14,976
17,943
9,492
9,492
Less: Impairment loss
20,418
23,437
9,492
9,492
(6,794)
(6,794)
(6,794)
(6,794)
13,624
16,643
2,698
2,698
Except for the amount advanced to 20K Company Limited ("20K") which is interest-bearing at Hong Kong dollar prime rate minus 3% (2013: Hong Kong dollar prime rate minus 3%) per annum, as disclosed in note 28(b)(ii), all of the amounts due from associates are unsecured, interest-free and have no fixed terms of repayment. All the amounts due from associates are not expected to be recovered within one year.
Details of the associates at 31 December 2014 are as follows:
Particulars of issued and paid up capital
Proportion of ownership interest
held by subsidiaries
Principal activities
20K
10 ordinary shares
50%
Property financing
Authian Estates Limited
5,000 A shares
50%
Property investment
5,000 B shares
Winwide Limited
100 ordinary shares
30%
Trading
All of the associates are incorporated and operate in Hong Kong.
All of the above associates are accounted for using the equity method in the consolidated financial statements.
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Hong Kong Ferry (Holdings) Company Limited Annual Report 2014
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