Singapore Airlines 2006 Annual Report Download - page 119

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117
Singapore Airlines Annual Report 05/06
21 Associated Companies (in $ million)
The Group The Company
31 March 31 March
2006 2005 R1 2006 2005
Share of net assets of associated companies
at acquisition date 431.0 409.7 – –
Goodwill on acquisition of associated companies 1,759.6 1,753.5 – –
Unquoted investments at cost 2,190.6 2,163.2 1,736.0 1,729.9
Impairment loss (18.5) (18.5) (20.3) (20.3)
2,172.1 2,144.7 1,715.7 1,709.6
Goodwill written-off to reserves (1,613.0) (1,613.0) – –
Accumulated amortisation of intangible assets (14.8) (7.1) – –
Currency realignment (29.0) (6.3) – –
Share of post-acquisition reserves
– general reserve 325.1 138.2 – –
– fair value reserve 115.6 – – –
– capital reserve 30.5 32.1 – –
986.5 688.6 1,715.7 1,709.6
Loans to associated companies 15.1 12.0 6.5 6.5
Write-down of loans (5.3) (5.5) – –
9.8 6.5 6.5 6.5
996.3 695.1 1,722.2 1,716.1
Amounts owing by associated companies 3.7 15.8 – 12.5
Intangible assets
The intangible assets arose from the acquisition of associated companies and the Group has engaged an independent third
party to perform a fair valuation of these separately identifi ed intangible assets. The useful life of these intangible assets was
determined to be fi ve years and the assets will be amortised on a straight-line basis over the useful life. The amortisation is
included in the line of “share of profi ts of associated companies” in the consolidated profi t and loss account.
R1 2005 fi gures have been restated for the effect of changes in accounting policies (see Note 3).
NOTES TO THE FINANCIAL STATEMENTS
31 March 2006