NTUC Income AR 2017

CONSOL IDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017 The accompanying notes form an integral part of the financial statements. The Group 2016 Note Life Insurance Par Fund $’000 Life Insurance Non-Par Fund $’000 Investment- Linked Fund $’000 General Insurance Fund $’000 Share holders' Fund $’000 Total $’000 ASSETS Property, plant and equipment 5 8,912 – – – – 8,912 Intangible assets 6 33,086 1,656 – – – 34,742 Investment properties 7 1,779,708 – – – – 1,779,708 Investment in subsidiaries 8 – – – – – – Investment in joint venture 9 91,070 – – – – 91,070 Investment in associated companies 10 350,301 – – – 117,892 468,193 Other financial assets 11 21,501,954 3,186,853 1,679,820 1,315,442 1,019,142 28,703,211 Loans 13 694,250 – – – – 694,250 Derivative financial instruments 14 25,245 25 3,414 2,921 2,249 33,854 Reinsurers' share of insurance contract provisions 15 – – – 34,617 – 34,617 Insurance and other receivables 16 174,308 17,193 69,314 26,520 90,307 377,642 Cash and cash equivalents 17 481,011 68,245 41,925 52,990 20,553 664,724 Asset held for sale 31 – – – – – – 25,139,845 3,273,972 1,794,473 1,432,490 1,250,143 32,890,923 LIABILITIES Insurance contract provisions 15 23,370,979 2,042,109 1,719,330 662,356 – 27,794,774 Investment contract liabilities 13,652 – – – – 13,652 Derivative financial instruments 14 322,335 11,840 4,254 10,636 11,226 360,291 Borrowings 18 419,932 – – – 599,155 1,019,087 Insurance and other payables 19 607,192 102,363 65,562 113,070 46,038 934,225 24,734,090 2,156,312 1,789,146 786,062 656,419 30,122,029 NET ASSETS 405,755 1,117,660 5,327 646,428 593,724 2,768,894 SHARE CAPITAL AND RESERVES Share capital 20 – – – – 657,848 657,848 Treasury shares – – – – (14,159) (14,159) Reserves for future distribution 21 – 415,694 – – – 415,694 Fair value reserve – – – (501) 27,689 27,188 Accumulated deficit of shareholders' fund 29 – – – – (77,654) (77,654) Accumulated surplus of insurance funds – Life insurance par fund 28 400,813 – – – – 400,813 – Other insurance funds 29 – 701,966 5,327 646,929 – 1,354,222 400,813 1,117,660 5,327 646,428 593,724 2,763,952 Non-controlling interest 4,942 – – – – 4,942 Total equity 405,755 1,117,660 5,327 646,428 593,724 2,768,894 ANNUAL REPORT 2017 EVERY DAY MADE DIFFERENT 39