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127 / 159

2010

2009

HK$000

HK$000

588,603

766

64,068

23

7,190

12,356

Current assets

Non-current assets

Current liabilities

Income recognised in profit or loss

Expenses recognised in profit or loss

Other comprehensive income

19.Interest in a jointy controlled entity (continued)

The summarised financial information in respect of the Groups interest in the jointly controlled entity is set out below:

2010

2009

HK$000

HK$000

7,982,977

83,879

80,292

19,781

19,781

103,660

8,083,050

83,879

8,063,269

20.Available-for-sale investments

Available-for-sale investments comprise:

Listed in Hong Kong:

  • units issued by Champion REIT

  • equity securities

Unlisted equity securities in Hong Kong

Market value of listed securities

As described in note 18, the Groups investment in Champion REIT was reclassified to interests in associates upon amendments to the Trust Deed on 23 July 2010.

At 31 December 2009, the Directors were of the view that Champion REIT is a trust constituted by the Trust Deed and regulated by, inter alia, the REIT Code, which prescribes certain rights, duties and obligations of the manager, trustee and unitholders under the Trust Deed. The Directors concluded that the Group did not exercise control or significant influence on the operating and financial policies of Champion REIT. Accordingly, Champion REIT was not regarded as a subsidiary nor an associate of the Group.

In determining the impairment of the Groups investment in Champion REIT at 31 December 2009, the Directors considered any loss events at the end of the reporting period which have an impact on the estimated future cash flows of Champion REIT. The Directors assessed that no objective evidence of impairment was identified. Accordingly, no impairment was recognised.

Annual Report 2010

125

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