NTUC Income AR 2018

Notes to the Financial Statements For the Financial Year Ended 31 December 2018 9. Investment in joint venture (continued) Summarised statement of comprehensive income Street Square Pte Ltd For the period from 1 October to 30 September 2018 $’000 2017 $’000 Revenue 42,305 39,247 Interest income 57 75 Expenses Includes: – Interest expense (26,739) (24,759) Profit from continuing operations 34,083 1,025 Income tax expense (1,243) (1,855) Post-tax profit / (loss) from continuing operations 32,840 (830) Total comprehensive income 32,840 (830) 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 2018 $’000 2017 $’000 Net assets At 1 October 2017 / 2016 181,309 182,139 Profit / (Loss) for the year 32,840 (830) Dividends paid / declared – – At 30 September 2018 / 2017 214,149 181,309 Interest in joint venture (2018: 50%, 2017: 50%) 107,075 90,655 Carrying value 107,075 90,655 98 HAND IN HAND