Notes on The Accounts (Continued)
9.
INTEREST IN SUBSIDIARIES
The company
1998
1997
$000's
$000's
Unlisted shares, at cost
1,018,356
1,018,356
Amounts due from subsidiaries
20,125
15,993
Dividends due from subsidiaries
55,522
157,312
1,094,003
1,191,661
Details of the subsidiaries are as follows:-
Issued
Percentage
Name of
company
Place of incorporation
Place of
ordinary
directly Indirectly
Principal
operation
share capital
held
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
100%
Investment holding
HK$10 shares
Communication Holdings Limited
British Virgin Islands
Hong Kong
35,900,010
100%
Investment holding
HK$10 shares
Island Communication Investments Limited
British Virgin Islands
Hong Kong
2
100%
Investment property
HK$1 shares
holding
Grand Island Place Investments Limited
British Virgin Islands
Hong Kong
2
100%
Investment property
HK$1 shares
holding
Nottingham Developments Limited
British Virgin Islands
Hong Kong
1
100%
Investment holding
US$1 share
10. INTEREST IN ASSOCIATED COMPANIES
Share of net tangible assets other than goodwill:
Unlisted shares
Loans to associated companies
Dividend due from associated company
Provision for diminution in value of interest in an associated company (note 4)
Details of the associated companies are as follows:-
Name of company
Place of incorporation
Swire and Island Communication
British Virgin Islands
Developments Limited
("Swire and Island")
Island Land Development Limited ("Island Land")
British Virgin Islands
Hareton Limited ("Hareton")
Hong Kong
Uttoxeter Limited ("Uttoxeter")
Hong Kong
27
The group
1998
1997
$000's
$000's
354,137
1,680,385
1,038,479
703,079
759,363
1,392,616 3,142,827
(102,480)
1,290,136 3,142,827
Percentage of shares held
Ordinary shares - 40% Non-voting dividend shares - 100%
Ordinary shares
50%
Ordinary shares - 50%
Ordinary shares - 20%
Principal activity
Property development for resale and investment
Property development
for resale and investment
Property development for resale and investment
Property development for resale and investment