NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
18 ASSOCIATES AND JOINT VENTURES (CONT’D)
18.1 ASSOCIATES (CONT’D)
Summarised statement of comprehensive income
ARA
FEHH
2014
2013*
2014
2013*
$’000
$’000
$’000
$’000
Revenue
173,058
12,432
164,583
28,576
Profit/(Loss) after tax
90,730
5,622
(881)
(26,242)
Other comprehensive income
20,132
(2,661)
8,298
(7,093)
Total comprehensive income
110,862
2,961
7,417
(33,335)
Dividend received from the associate
during the year
8,495
–
–
–
* ARA became an associate of the Group on 29 November 2013. The injection of hospitality management and businesses
into FEHH was completed on 1 November 2013.
Reconciliation of the summarised financial information presented above to the carrying amount of the Group’s interest
in associates
ARA
FEHH
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Net assets at 31 December
341,354
275,960
38,890
31,476
Interest in associates
20.1%
20.1%
30%
30%
Group’s share of net assets
68,612
55,468
11,667
9,443
Goodwill on acquisition
127,232
127,232
–
–
Intangible assets
109,198
111,140
10,546
10,557
Carrying value of Group’s interest in associates
305,042
293,840
22,213
20,000
111
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
