ING Direct 2008 Annual Report Download - page 116

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2.1 Consolidated annual accounts
Investments in associates
Interest
held (%)
Fair value
of listed
investment
Balance
sheet
value
Total
assets
Total
liabilities
Total
income
Total
expenses2007
TMB Public Company Limited 30 481 481 16,028 15,002 180 436
ING Dutch Office Master Fund C.V. 24 348 1,718 257 202 24
ING Winkels Basisfonds 24 333 1,617 209 192 22
ING Industrial Fund Australia 18 303 303 3,124 1,338 411 168
Lionbrook Property Partnership 28 295 1,243 176 –60 27
ING Woningen Basisfonds 25 237 1,116 112 135 48
Q-Park N.V. 19 191 3,911 2,914 458 403
ING Real Estate Asia Retail Fund 46 189 791 399 29 2
Property Fund Iberica 30 185 1,959 1,331 313 188
ING Retail Property Fund Australia 29 150 958 399 179 100
Lion Properties Fund 5147 4,502 1,666 660 155
Lion Industrial Trust 9142 3,001 1,157 387 106
B.V. Petroleum Maatschappij ‘Moeara Enim’ 30 130 461 19 2
ING Re Nordic Property Fund 22 104 1,089 623 70 47
ING Vastgoed Kantoren C.V. 10 103 1,033 7124 34
ING PF Brittanica 20 93 864 402 –7 42
Lion Value Fund 33 92 423 143 76 14
ING Vastgoed Winkels C.V. 10 86 870 8130 19
ING Office Fund Australia 669 83 2,134 763 443 152
Retail Property Fund France Belgium (RPFFB) 15 81 1,597 1,069 304 189
ING Logistics Property Fund Europe 25 78 574 263 76 31
Property Fund Central Europe 25 73 649 358 119 41
ING Retail Property Partnership Southern Europe 23 66 1,150 857 111 78
ING Property Fund Central and Eastern Europe 23 66 761 478 40 39
ING Vastgoed Woningen C.V. 10 56 557 168 15
Other investments in associates 902
5,014
Changes in Investments in associates
2008 2007
Opening balance 5,014 4,343
Additions 1,034 1,222
Changes in the composition of the group 46 934
Transfers to and from Investments –154 –438
Revaluations 217 –155
Share of results –375 765
Dividends received –212 –224
Disposals –972 –1,296
Impairments –29 –25
Exchange rate differences –214 –112
Closing balance 4,355 5,014
In 2008, share of results of EUR –375 million (2007: EUR 765 million) and impairments of EUR –29 million (2007: EUR –25 million) are
presented in the profit and loss account in Share of profit from associates for EUR –404 million (2007: EUR 740 million).
Notes to the consolidated balance sheet of ING Group (continued)
ING Group Annual Report 2008
114