2018E — Page 137

13 INTEREST IN ASSOCIATES

Share of net assets

Amounts due from associates

Less: impairment loss

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2018

HK$'000

2017

HK$'000

71

147

14,771

15,756

14,842

15,903

(6,794)

(6,794)

8,048

9,109

Except for the amount advanced to 20K Company Limited (“20K") which is interest-bearing at Hong Kong dollar prime rate minus 3% (2017: Hong Kong dollar prime rate minus 3%) per annum, as disclosed in note 28(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

Proportion of ownership

interest held by

up capital

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 2018

135