CMB_1997 — Page 31

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 185,973,024

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 compony

The group

1997

1996

$000's

$000's

1,680,385

703,079

(326) 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

Swire and Island Communication

British Virgin Islands

Developments Limited

("Swire and Island"}

Percentage of shares held

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

Ordinary shares - 50%

Island Land Development Limited ("Island Land")

British Virgin Islands

Hareton Limited ("Hareton")

Hong Kong

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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