Singapore Airlines 2016 Annual Report Download - page 173
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23 Subsidiary Companies (in $ million) (continued)
(b) Interest in subsidiary companies with material non-controlling interests (“NCI”)
The Group has the following subsidiary company that has NCI that are material to the Group:
SIA Engineering Company
Group of Companies
2016 2015
Proportion of ownership interest held by NCI 22.4% 22.4%
Profit allocated to NCI during the reporting period 43.9 43.3
Accumulated NCI at the end of reporting period 359.8 321.9
Dividends paid to NCI 40.7 71.1
During the financial year, the Company acquired an additional interest in Tiger Airways of 39.7% (Note 23(g)). As a result, the proportion
of ownership interest held by NCI in Tiger Airways was reduced to 4.5% from 44.2%, and Tiger Airways is no longer a subsidiary company
with NCI material to the Group.
(c) Summarised financial information about subsidiary companies with material NCI
Summarised financial information including goodwill on acquisition and consolidation adjustments but before intercompany eliminations
of subsidiary companies with material non-controlling interests are as follows:
Summarised balance sheet
SIA Engineering Company
Group of Companies
31 March
Tiger Airways
Group of Companies
31 March
2016 2015 2016 2015
Current
Assets 926.2 771.6 # 443.3
Liabilities (256.1) (255.3) # (340.1)
Net current assets 670.1 516.3 # 103.2
Non-current
Assets 895.8 885.5 # 579.1
Liabilities (54.0) (50.5) # (466.9)
Net non-current assets 841.8 835.0 # 112.2
Net assets 1,511.9 1,351.3 # 215.4
# Tiger Airways ceased to be a subsidiary company with NCI material to the Group.
Annual Report FY2015/16 171