Singapore Airlines 2016 Annual Report Download - page 181
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24 Associated Companies (in $ million) (continued)
Dividends of approximately $6.9 million (FY2014/15: $21.7 million) were received from ESA during the financial year.
Based on the quoted market price as at 31 March 2016 (Level 1 in the fair value hierarchy), the fair value of ownership interest in VAH is
$306.9 million (2015: $433.0 million).
Aggregate information about the Group’s share of the results of the associated companies that are not individually material is as follows:
Summarised statement of comprehensive income
Immaterial associates
FY2015/16 FY2014/15
Profit after tax 3.6 17.7
Other comprehensive income – 10.6
Total comprehensive income 3.6 28.3
25 Joint Venture Companies (in $ million)
The Group
31 March
2016 2015
Investment in joint venture companies 156.3 167.9
The joint venture companies at 31 March are:
Country of
incorporation and
place of business
Percentage of equity
held by the Group
Principal activities 2016 2015
International Engine Component Overhaul
Pte Ltd (1)
Repair and overhaul of aero engine
components and parts Singapore 38.8 38.8
Singapore Aero Engine Services Pte Ltd (1) Repair and overhaul of aircraft engines Singapore 38.8 38.8
NokScoot Airlines Co., Ltd (2) Air transportation Thailand 49.0 49.0
(1) Held by SIA Engineering Company, audited by Ernst & Young LLP, Singapore and financial year end of 31 December.
(2) Held by Scoot, audited by Deloitte & Touche, Thailand, and financial year end of 31 December.
The Group jointly controls all the joint venture companies with other partners under contractual agreements that require unanimous consent
for all major decisions over the relevant activities; they are all equity accounted.
Annual Report FY2015/16 179