NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
16
INTEREST IN A JOINT VENTURE
Share of net liabilities
Loan to a joint venture
2017
HK$'000
2016
HK$'000
(105)
(5)
1,364,400
1,354,400
1,364,295
1,354,395
The loan to a joint venture is unsecured, interest-bearing at a rate to be agreed by the Group and the joint venture partner and recoverable on demand. The balance is not expected to be recovered within one year. During the years and as at 31 December 2017 and 2016, the balance did not bear any interest.
Details of the group's interest in the joint venture, which is accounted for using the equity method in the consolidated financial statements, are as follows:
Name of joint venture
Form of
business
structure
Place of
incorporation
and business
Proportion of
Particulars of ownership interest
issued capital
held by subsidiaries Principal activity
Win Standard Enterprises
Limited
Incorporated
Hong Kong
10,000 ordinary shares
50%
Property development
The joint venture is an unlisted corporate entity whose quoted market price is not available.
Hong Kong Ferry (Holdings) Company Limited Annual Report 2017
125