Singapore Airlines 2008 Annual Report Download - page 140

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Singapore Airlines Annual Report 2007-08
138
24 Joint Venture Companies (in $ million)
The Group
31 March
2008 2007
Investment in joint venture companies (unquoted, at cost) 56.6 56.6
Share of post-acquisition reserves
- general reserve 54.2 37.1
- foreign currency translation reserve (15.7) (7.1)
95.1 86.6
The Group’s share of the consolidated assets and liabilities, and results of joint venture companies are as follows:
The Group
31 March
2008 2007
Assets and liabilities
Current assets 148.3 135.4
Non-current assets 47.6 57.1
195.9 192.5
Current liabilities (63.5) (68.6)
Non-current liabilities (37.3) (37.3)
(100.8) (105.9)
2007-08 2006-07
Results
Revenue 542.6 543.8
Expenses (491.8) (485.9)
50.8 57.9
The joint venture companies at 31 March are:
Country of Percentage of
incorporation equity held
and place Cost (in $ million) by the Group
Principal activities of business 2008 2007 2008 2007
International Engine Component Repair and overhaul of Singapore 10.07 10.07 40.4 41.0
Overhaul Pte Ltd* aero engine components
and parts
Singapore Aero Engine Services Repair and overhaul of - do - 46.53 46.53 40.4 41.0
Private Limited* aircraft engines
* Audited by Ernst & Young, Singapore.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2008