NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 10. INVESTMENT IN ASSOCIATED COMPANIES (CONTINUED) Reconciliation of summarised financial information (continued) Name of company Country of incorporation Principal activities % of ownership interest 2017 % 2016 % NTUC Choice Homes Co-operative Ltd (a) Singapore Property development 25 25 (a) Financial year ends on 31 December The Group has no commitments relating to its associated company. There are also no contingent liabilities relating to the Group’s interest in the associated company. Summarised financial information for associated company Set out below is the summarised financial information of the associated company based on the management accounts as of 30 September which is used for equity accounting, as this is the latest financial information available. Summarised financial information NTUC Choice Homes Co-operative Ltd As at 30 September 2017 $’000 2016 $’000 Current assets 9,664 11,657 Current liabilities (4,175) (3,495) Non-current assets 457,191 457,234 Non-current liabilities – – Adjustments made to align with Group accounting policies (492) (2,347) Net assets 462,188 463,049 Summarised statement of comprehensive income NTUC Choice Homes Co-operative Ltd For the period from 1 October to 30 September 2017 $’000 2016 $’000 Revenue – 1,291 Profit from continuing operations 3,037 6,396 Adjustments made to align with Group accounting policies 14 (1,374) Post-tax profit from continuing operations 3,067 4,757 Other comprehensive income – (236) Total comprehensive income 3,067 4,521 Dividends paid / declared (3,928) (3,928) ANNUAL REPORT 2017 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED 98