Singapore Airlines 2001 Annual Report Download - page 88

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86 SIA annual report 00/01
Notes to the Financial Statements
31 March 2001
18 Joint Venture Companies (in $ million)
The Group The Company
31 M arch 31 M arch
2001 2000 2001 2000
Investment in joint venture companies (unquoted, at cost) 144.8 125.5 107.9 107.9
Share of post acquisition reserves
– general reserve 59.6 35.5 – –
– foreign currency translation reserve 27.7 20.3 – –
– capital reserve 6.9 6.9 – –
239.0 188.2 107.9 107.9
The Group’s share of the consolidated results of joint venture companies is as follows:-
The Group
31 M arch
2001 2000
Profit before taxation 27.0 21.0
Taxation (2.9) (2.6)
24.1 18.4
The Group’s share of the consolidated assets and liabilities of the joint venture companies comprises:-
The Group
31 M arch
2001 2000
Fixed and other assets 893.6 819.2
Current assets 57.9 70.5
Current liabilities (77.0) (153.1)
Long-term liabilities (635.5) (548.4)
239.0 188.2
The joint venture companies at 31 March 2001 were:-
Country of
incorporation Percentage of
& place of Cost equity held by
Principal activities business (in $ million) the Group
2001 2000 2001 2000
Singapore Aircraft Leasing Enterprise Aircraft leasing Singapore 107.92 107.92 35.5 35.5
Pte Ltd
International Engine Component Repair of aircraft components - do - 11.97 11.97 44 50
Overhaul Pte Ltd
Singapore Aero Engine Services Pte Ltd# Repair and maintain Trent - do - 24.88 5.56 44 50
aero engines
# The company was incorporated on 4 March 1999 and has not commenced operations.