Singapore Airlines 2016 Annual Report Download - page 182
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Notes to the Financial Statements
31 March 2016
25 Joint Venture Companies (in $ million) (continued)
The carrying amounts of the investments are as follows:
The Group
31 March
2016 2015
Singapore Aero Engine Services Pte Ltd ("SAESL") 136.0 126.1
Other joint venture companies 20.3 41.8
156.3 167.9
The activities of SAESL are strategic to the Group’s activities.
Dividends of approximately $33.9 million (FY2014/15: $49.8 million) were received from SAESL during the financial year.
Summarised financial information in respect of SAESL, which is material to the Group, is as follows:
Summarised statement of financial position
SAESL
31 March
2016 2015
Cash and short-term deposits 31.2 64.8
Other current assets 544.3 313.0
Total current assets 575.5 377.8
Non-current assets 251.3 223.9
Total assets 826.8 601.7
Current financial liabilities (excluding trade, other payables and provisions) (173.9) (77.2)
Other current liabilities (258.9) (144.3)
Total current liabilities (432.8) (221.5)
Non-current financial liabilities (122.0) (128.0)
Total liabilities (554.8) (349.5)
Net assets 272.0 252.2
Summarised statement of comprehensive income
SAESL
FY2015/16 FY2014/15
Revenue 1,326.3 1,443.5
Depreciation and amortisation (12.6) (10.7)
Interest income 0.1 0.1
Interest expense (1.6) (1.2)
Profit before taxation 82.2 115.1
Taxation (0.2) (1.0)
Profit after taxation 82.0 114.1
Other comprehensive income 10.7 (12.8)
Total comprehensive income 92.7 101.3
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