Notes on The Accounts (Continued)
9.
INTEREST IN SUBSIDIARIES
Unlisted shares, at cost
Amount due from subsidiaries
Details of the subsidiaries are as follows:-
The company
1997
1996
$000's
$000's
1,018,356
1,018,356
173,305
104,780
1,191,661
1,123,136
Issued
Name of company
Place of incorporation
Place of operation
ordinary
Percentage
Principal
share capital
directly held
activity
Island Communication Enterprises Limited
Hong Kong
Hong Kong 185,073,024
100%
Investment holding
HK$1 shares
Heartwell Limited
Hong Kong
Hong Kong
9,000,002 HK$10 shares
100%
Investment holding
Communication Holdings Limited
British Virgin Islands Hong Kong
35,900,010 HK$10 shares
100%
Investment holding
10. INTEREST IN ASsociated COMPANIES
Share of net tangible assets/(liabilities) other than goodwill:
Unlisted shares
Loans to associated companies
Amount due from associated company
The group
1997
1996
$000's
$000's
1,680,385
(326)
703,079 1,139,663
759,363
3,142,827 1,139,337
Details of the associated companies are as follows:-
Name of company
Place of incorporation
Percentage of shares held
Swire and Island Communication
British Virgin Islands
Developments Limited
40% Ordinary shares Non-voting dividend shares
—
100%
Principal activity
Property development for resale and investment
("Swire and Island")
Island Land Development Limited ("Island Land")
British Virgin Islands
Hareton Limited ("Hareton")
Hong Kong
Ordinary shares - 50%
Ordinary shares - 50%
Property development
for resale and investment
Property development for resale and investment
25