NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 9. INVESTMENT IN JOINT VENTURE COMPANY (CONTINUED) Summarised statement of comprehensive income Street Square Pte Ltd For the period from 1 October to 30 September 2017 $’000 2016 $’000 Revenue 39,247 45,066 Interest income 75 80 Expenses Includes: – Interest expense (24,759) (25,146) Profit / (Loss) from continuing operations 1,025 (26,730) Income tax expense (1,855) (4,762) Post-tax profit / (loss) from continuing operations (830) (31,492) Total comprehensive income (830) (31,492) Dividends paid / declared – – Reconciliation of summarised financial information Reconciliation of summarised financial information presented to the carrying amount of the Group’s interest in the joint venture company, is as follows. Street Square Pte Ltd As at 30 September 2017 $’000 2016 $’000 Net assets At 1 October 2016 / 2015 182,139 213,631 Profit / (Loss) for the year (830) (31,492) Dividends paid / declared – – At 30 September 2017 / 2016 181,309 182,139 Interest in joint venture (50%) 90,655 91,070 Carrying value 90,655 91,070 ANNUAL REPORT 2017 EVERY DAY MADE DIFFERENT 95