1983 — Page 17

11. Interest in Associated Companies

Company

Group

1983

1982

1983

1982

Unquoted shares, at cost

8,338

1,755

Amount due from associated

companies less provision

7,067

6,685

25,961

10,207

7,067

6.685

34,299

11,962

Name of Associates

Authian Estates Limited Sealink Ferries Limited

Place of Incorporation Hong Kong Hong Kong

Description of shares held

Percentage held

indirectly

"A" Ordinary Ordinary

50%

41.6%

Sealink Ferries Limited, an affiliated company became an associated company of the Group during the year as a result of the acquisition by a subsidiary company of additional beneficial interest in the said company.

A subsidiary company has charged, as a beneficial owner, all its shares in an associated company by way of a first fixed charge as continuing security for credit facilities made. available to that associated company up to the extent of $8,333,000 (1982 - $2,500,000)

Included in the amount due from associated companies of the Group is an interest free subordinated loan of $16,667,000 (1982 - $3,500,000) which is only repayable at the discretion of the associated company.

12. Other Investments

Company

Group

1983

1982

1983

1982

Unquoted shares, at cost

170

170

193

193

Investment in hotel project

in Guangzhou, China, at cost

5,447

5,447

5,447

5,447

5,617

5,617

5,640

5,640

Less: Provision for

diminution in value

557

125

580

148

5,060

5,492

5,060

5,492

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