NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 9. INVESTMENT IN JOINT VENTURE (CONTINUED) Summarised financial information for joint venture company Set out below is the summarised financial information of Street Square Pte. Ltd. based on the management accounts as of 30 September which is used for equity accounting, as this is the latest financial information available. Summarised financial position Street Square Pte. Ltd. As at 30 September 2019 $’000 2018 $’000 Current assets 11,571 24,152 Current liabilities (178,986) (175,657) Non-current assets 1,091,529 980,715 Non-current liabilities (616,175) (615,061) Net assets 307,939 214,149 Summarised statement of comprehensive income Street Square Pte. Ltd. For the period from 1 October to 30 September 2019 $’000 2018 $’000 Revenue 45,619 42,305 Profit from continuing operations (b) 93,790 32,840 Other comprehensive income – – Total comprehensive income 93,790 32,840 Dividends paid/declared – – (b) Includes: – Fair value gain on investment property of $103,942,000 (2018: $25,787,000) – Interest expenses of $28,548,000 (2018: $26,739,000) – Income tax expenses of $8,257,000 (2018: $1,243,000) 104 HERE FOR SURE