13 INTEREST IN ASSOCIATES
Share of net assets
Amounts due from associates
Less: impairment loss
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2018
HK$'000
2017
HK$'000
71
147
14,771
15,756
14,842
15,903
(6,794)
(6,794)
8,048
9,109
Except for the amount advanced to 20K Company Limited (“20K") which is interest-bearing at Hong Kong dollar prime rate minus 3% (2017: 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.
The following list contains the particulars of associates, all of which are unlisted corporate entities whose quoted market price is not available:
Particulars of issued and paid
Proportion of ownership
interest held by
up capital
subsidiaries
Principal
activities
20K
10 ordinary shares
50%
Property financing
Authian Estates Limited
5,000 A shares 5,000 B shares
50%
Property investment
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.
Hong Kong Ferry (Holdings) Company Limited Annual Report 2018
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