|
 |
Associated companies |
 |
|
 |
As at 31 December 2008
|
EduLoan
(Proprietary)
Limited |
|
Safika Holdings
(Proprietary) Limited |
|
South African
Home Loans
(Proprietary) Limited |
| Ownership structure |
Associate |
Associate |
Associate |
| Nature of business |
Student loans |
Investment holding company |
Finance |
| Year end |
December |
February |
February |
| Date to which equity accounted |
31 December 2008 |
31 December 2008 |
31 December 2008 |
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| Effective holding |
27% |
25% |
20% |
17% |
44% |
44% |
|
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Carrying value |
23 |
23 |
288 |
164 |
239 |
234 |
Balance sheet |
|
|
|
|
|
|
| Non-current assets |
30 |
35 |
2 791 |
3 594 |
170 |
194 |
| Current assets |
287 |
202 |
185 |
557 |
842 |
697 |
| Non-current liabilities |
(21) |
(34) |
(1 671) |
(1 929) |
(113) |
(59) |
| Current liabilities |
(218) |
(149) |
(36) |
(408) |
(223) |
(294) |
|
|
|
|
|
|
|
| Loans to entity |
21 |
70 |
- |
- |
- |
- |
Income statement |
|
|
|
|
|
|
| Attributable income before impairments |
4 |
8 |
67 |
89 |
91 |
73 |
|
|
Defy
(Proprietary) Limited
|
|
RCS Investment Holdings
(Proprietary) Limited
|
|
Dairy Belle
(Proprietary) Limited |
| Ownership structure |
Associate |
Associate |
Associate |
| Nature of business |
Manufacturing |
Finance |
Dairy products |
| Year end |
March |
March |
September |
| Date to which equity accounted |
31 December 2008 |
31 December 2008 |
31 December 2008 |
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| Effective holding |
43% |
43% |
45% |
45% |
50% |
50% |
|
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Carrying value |
- |
- |
869 |
860 |
51 |
91 |
Balance sheet |
|
|
|
|
|
|
| Non-current assets |
- |
- |
123 |
87 |
377 |
409 |
| Current assets |
123 |
246 |
2 492 |
1 838 |
397 |
285 |
| Non-current liabilities |
- |
- |
(1 610) |
(1 161) |
(307) |
(339) |
| Current liabilities |
(123) |
(246) |
(233) |
(184) |
(278) |
(177) |
|
|
|
|
|
|
|
| Loans to entity |
- |
- |
719 |
503 |
290 |
279 |
Income statement |
|
|
|
|
|
|
| Attributable income before impairments |
42 |
53 |
62 |
85 |
(16) |
8 |
|
|
Credit Suisse Standard
Securities (Proprietary)
Limited |
|
The Standard Bank
African Bank partnership |
|
The Cullinan Hotel
(Proprietary) Limited |
|
| Ownership structure |
Joint venture |
Joint venture |
Joint venture |
| Nature of business |
Stockbroker |
Banking |
Leisure |
| Year end |
February |
September |
March |
| Date to which equity accounted |
31 December 2008 |
31 December 2008 |
31 December 2008 |
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| Effective holding |
50% |
50% |
60% |
60% |
50% |
50% |
| |
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Carrying value |
110 |
80 |
56 |
95 |
315 |
294 |
Balance sheet |
|
|
|
|
|
|
| Non-current assets |
25 |
24 |
75 |
287 |
634 |
604 |
| Current assets |
475 |
423 |
130 |
118 |
69 |
44 |
| Non-current liabilities |
(2) |
- |
(5) |
(227) |
- |
(104) |
| Current liabilities |
(325) |
(334) |
(1) |
(22) |
(72) |
(48) |
|
|
|
|
|
|
|
| Loans to entity |
- |
- |
101 |
101 |
- |
46 |
Income statement |
|
|
|
|
|
|
| Attributable income before impairments |
30 |
27 |
(10) |
3 |
33 |
40 |
|
|
Other associates |
|
Other joint ventures |
|
Total associates and joint ventures |
|
| Ownership structure |
Associates |
Joint ventures |
|
|
| Nature of business |
Various |
Various |
|
|
| Year end |
Various |
Various |
|
|
| Date to which equity accounted |
31 December 2008 |
31 December 2008 |
|
|
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| Effective holding |
Various |
Various |
Various |
Various |
|
|
|
Rm |
Rm |
Rm |
Rm |
Rm |
Rm |
| Carrying value |
270 |
105 |
39 |
50 |
2 264 |
1 996 |
Balance sheet |
|
|
|
|
|
|
| Non-current assets |
983 |
573 |
25 |
2 |
5 233 |
5 809 |
| Current assets |
3 669 |
592 |
65 |
29 |
8 734 |
5 031 |
| Non-current liabilities |
(758) |
(437) |
(22) |
|
(4 509) |
(4 290) |
| Current liabilities |
(2 789) |
(559) |
(17) |
(12) |
(4 315) |
(2 433) |
|
|
|
|
|
|
|
| Loans to entity |
366 |
421 |
- |
- |
1 497 |
1 420 |
Income statement |
|
|
|
|
|
|
| Attributable income before impairments |
86 |
(63) |
18 |
32 |
407 |
355 |
|
|
Private equity/venture
capital associates and
joint ventures |
|
| Ownership structure |
Various |
| Nature of business |
Various |
| Year end |
Various |
| Date to which equity accounted |
31 December 2008 |
|
2008 |
2007 |
| Effective holding |
Various |
Various |
|
Rm |
Rm |
| Cost |
308 |
198 |
| Carrying value |
411 |
317 |
Balance sheet1 |
|
|
| Non-current assets |
4 324 |
4 470 |
| Current assets |
1 529 |
1 576 |
| Non-current liabilities |
(2 713) |
(2 444) |
| Current liabilities |
(1 062) |
(1 230) |
| |
|
|
| Loans to entity |
719 |
442 |
Income statement |
|
|
| Attributable income before impairments |
119 |
144 |
| Other income from associates |
- |
- |
| Profit or loss on disposal of associates |
- |
- |
| Impairments included in non-interest revenue |
(69) |
- |
| Fair value |
516 |
383 |
|
All investments in associates and joint ventures, other than those recognised at fair value through profit and loss in accordance
with IAS 39, made by a private equity organisation are ring-fenced for headline earnings purposes. On the disposal of these
associates and joint ventures held by the private equity division of the group, profit or loss on the disposal will be included in
headline earnings in terms of Circular 8/2007 Headline Earnings, issued by the South African Institute of Chartered
Accountants.
1 Included in total associates and joint ventures on pages 282 to 283 .
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