NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 10. INVESTMENT IN ASSOCIATED COMPANIES (CONTINUED) Reconciliation of summarised financial information Reconciliation of summarised financial information presented to the carrying amount of the Group’s interest in the associated company, is as follows: Parkway Parade Partnership Limited 2019 $’000 2018 $’000 Net assets At 1 December 2018 / 2017 839,055 740,500 Profit for the year 36,312 136,826 Other comprehensive income – – Dividends paid/declared (33,888) (38,271) At 30 November 2019 / 2018 841,479 839,055 Interest in associated company (2019: 49%, 2018: 49%) 408,570 407,393 Carrying amount of the Group’s interest in associated company 408,570 407,393 2019 $’000 2018 $’000 Shareholders’ Fund Equity investment at cost 239,565 238,715 Set out below is the associated co-operative and companies of the Group as at 31 December 2019. The associated co-operative and companies have share capital consisting solely of ordinary shares, which are held directly by the Group; the country of incorporation is also its principal place of business. The Group has no commitments relating to its associated co-operative and companies. There are also no contingent liabilities relating to the Group’s interest in the associated co-operative and companies. Name of company Country of incorporation Principal activities % of ownership interest 2019 % 2018 % Direct associate: NTUC Choice Homes Co-operative Ltd (a) Singapore Property development 25 25 Davita Singapore Pte. Ltd. (a) Singapore Dialysis services, clinics and other general medical services 10 – Indirect associate, held through fully-owned subsidiary: FFMC Holdings Pte. Ltd. (a) Singapore Asset management 49 49 (a) Financial year ends on 31 December ANNUAL REPORT 2019 107