Cathay Pacific 2008 Annual Report Download - page 69

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Notes to the Accounts STATEMENT OF FINANCIAL POSITION
14. Associates (continued)
2008
HK$M
2007
HK$M
Summarised financial information of associates:
Assets 121,891 101,323
Liabilities (88,082) (61,963)
Equity 33,809 39,360
Turnover 66,417 57,057
Net (loss)/profit for the year (5,800) 5,097
In respect of the year ended 31st December 2008, Air China has been included in the consolidated accounts based
on the most recently available accounts drawn up to 30th September 2008, but taking into account the unrealised
fuel hedging losses that occurred in the subsequent period from 1st October 2008 to 31st December 2008. The
Group has taken advantage of the provision contained in HKAS 28 “Investments in Associates” whereby it is
permitted to include the attributable share of associates’ results based on accounts drawn up to a non-coterminous
period end where the difference must be no greater than three months.
Principal associates are listed on page 93.
15. Other long-term receivables and investments
Group Company
2008
HK$M
2007
HK$M
2008
HK$M
2007
HK$M
Investments at fair value
– listed in Hong Kong 77 186 ––
– unlisted 992 1,256 916 1,142
Leasehold land rental prepayments 1,600 1,642 ––
Loans and other receivables 418 435 408 425
3,087 3,519 1,324 1,567
Leasehold land is held under medium-term leases in Hong Kong with a total unamortised value of HK$1,643 million
(2007: HK$1,685 million).
Cathay Pacific Airways Limited Annual Report 2008 67