2017E — Page 127

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

16

INTEREST IN A JOINT VENTURE

Share of net liabilities

Loan to a joint venture

2017

HK$'000

2016

HK$'000

(105)

(5)

1,364,400

1,354,400

1,364,295

1,354,395

The loan to a joint venture is unsecured, interest-bearing at a rate to be agreed by the Group and the joint venture partner and recoverable on demand. The balance is not expected to be recovered within one year. During the years and as at 31 December 2017 and 2016, the balance did not bear any interest.

Details of the group's interest in the joint venture, which is accounted for using the equity method in the consolidated financial statements, are as follows:

Name of joint venture

Form of

business

structure

Place of

incorporation

and business

Proportion of

Particulars of ownership interest

issued capital

held by subsidiaries Principal activity

Win Standard Enterprises

Limited

Incorporated

Hong Kong

10,000 ordinary shares

50%

Property development

The joint venture is an unlisted corporate entity whose quoted market price is not available.

Hong Kong Ferry (Holdings) Company Limited Annual Report 2017

125