2016 — Page 113

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INTEREST IN ASSOCIATES

Share of net assets

Amounts due from associates

Less: impairment loss

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2016

HK$'000

2015

HK$'000

344

5,725

16,899

12,190

17,243

17,915

(6,794)

(6,794)

10,449

11,121

Except for the amount advanced to 20K Company Limited ("20K") which is interest-bearing at Hong Kong dollar prime rate minus 3% (2015: Hong Kong dollar prime rate minus 3%) per annum, as disclosed in note 30(b)(ii), all of the amounts due from associates are unsecured, interest-free and have no fixed terms of repayment. All the amounts due from associates are not expected to be recovered within one year.

The following list contains the particulars of associates, all of which are unlisted corporate entities whose quoted market price

is not available:

Particulars of issued and paid

up capital

Proportion of ownership interest held by

subsidiaries

Principal activities

20K

10 ordinary shares

50%

Property financing

Authian Estates Limited

5,000 A shares 5,000 B shares

50%

Property investment

Winwide Limited

100 ordinary shares

30%

Trading

All of the associates are incorporated and operate in Hong Kong.

All of the above associates are accounted for using the equity method in the consolidated financial statements.

Hong Kong Ferry (Holdings) Company Limited

Annual Report 2016

111