Cathay Pacific 2007 Annual Report Download - page 65

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Notes to the Accounts
Balance Sheet
11. Subsidiaries
Company
2007
HK$M
2006
HK$M
Unlisted shares at cost 218 216
Other investments at cost 12,982 12,899
Net amounts due from/(to) subsidiaries
– Loan accounts 3,727 (1,147)
– Current accounts 7,982 8,322
24,909 20,290
During the year ended 31st December 2006, the Group increased its shareholding from 17.8% to 100% in Dragonair. In
accordance with HKFRS 3 “Business Combinations”, during 2007 the Group has made certain adjustments to restate
the fair values of assets and liabilities acquired as if these adjustments had been recognised from the acquisition date.
The effect of the adjustments to the provisional fair value of assets and liabilities are as follows:
HK$M
Decrease in fixed assets 484
Decrease in stock 11
Decrease in trade and other payables (99)
Decrease in deferred taxation (92)
Decrease in reserves (28)
Increase in goodwill 276
Principal subsidiaries are listed on page 88.
12. Associates
Group Company
2007
HK$M
2006
(restated)
HK$M
2007
HK$M
2006
HK$M
Hong Kong listed shares at cost (Market value:
HK$34,798 million, 2006: HK$13,763 million) ––7,178 6,964
Unlisted shares at cost ––17 17
Share of net assets
– listed in Hong Kong 7,325 6,389 ––
– unlisted 363 349 ––
Goodwill 2,366 2,088 ––
10,054 8,826 7,195 6,981
Less: Impairment loss ––(9) (9)
10,054 8,826 7,186 6,972
Share of profits of associates
– listed 995 232 ––
– unlisted 62 69 ––
1,057 301 ––
Dividends received and receivable from associates 274 241 220 196
Cathay Pacific Airways Limited Annual Report 2007 63