NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 10. INVESTMENT IN ASSOCIATED COMPANIES 2017 $’000 2016 $’000 Life Insurance Par Fund Equity investment at cost 236,367 236,367 Set out below are the associated companies of the Group as at 31 December 2017. The associated companies as listed below have share capital consisting solely of ordinary shares, which are held directly by the Group; the country of incorporation is also their principal place of business. Name of company Country of incorporation Principal activities % of ownership interest 2017 % 2016 % One Marina Property Services Pte Ltd (a) Singapore Provision of facility management, project management, marketing and leasing services 20 20 Parkway Parade Partnership Ltd (a) Singapore Properties investment holding 49 49 (a) Financial year ends on 31 December The Group has no commitments relating to its associated companies. There are also no contingent liabilities relating to the Group’s interest in the associated companies. Summarised financial information for associated companies Set out below is the summarised financial information of the material associated company of the Group, based on the management accounts as at 30 November which is used for equity accounting, as this is the latest financial information available. Summarised financial position Parkway Parade Partnership As at 30 November 2017 $’000 2016 $’000 Current assets 29,800 24,900 Current liabilities (55,900) (42,700) Non-current assets 1,244,300 1,210,500 Non-current liabilities (477,700) (475,500) Net assets 740,500 717,200 ANNUAL REPORT 2017 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED 96