NTUC Income AR 2018

Notes to the Financial Statements For the Financial Year Ended 31 December 2018 10. Investment in associated companies 2018 $’000 2017 $’000 Life Insurance Par Fund Equity investment at cost 235,787 236,367 Set out below are the associated companies of the Group as at 31 December 2018. 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 2018 % 2017 % One Marina Property Services Pte Ltd (a)* Singapore Provision of facility management, project management, marketing and leasing services – 20 Parkway Parade Partnership Ltd (a) Singapore Properties investment holding 49 49 (a) Financial year ends on 31 December * Disposed during the year 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 Ltd As at 30 November 2018 $’000 2017 $’000 Current assets 29,000 29,800 Current liabilities (51,700) (55,900) Non-current assets 1,340,155 1,244,300 Non-current liabilities (478,400) (477,700) Net assets 839,055 740,500 99 2018 ANNUAL REPORT