CMB_1996_Copy2 — Page 29

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

1996

1995

$000's

$000's

1,018,356

1,018,356

104,780

8,558

1,123,136

1,026,914

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 other than goodwill:

Unlisted shares

Loans to associated companies

Details of the associated companies are as follows:-

The group

1996

1995

$000's

$000's

(326)

(192)

1,139,663

1,139,663

1,139,337

1,139,471

Name of

company

Place of incorporation

Percentage of shares held

Swire and Island Communication

British Virgin Islands

Developments Limited

Ordinary shares - 40% Non-voting dividend shares - 100%

("Swire and Island”)

Island Land Development Limited ("Island Land")

British Virgin Islands

Hareton Limited ("Hareton")

Hong Kong

Ordinary shares - 50%

Ordinary shares - 50%

Principal activity

Property development for resale and investment

Property development

for resale and investment

Property development for resale and investment

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