Telstra 2002 Annual Report Download - page 217

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Telstra Corporation Limited and controlled entities
214
Notes to the Financial Statements (continued)
11. Investments (continued)
Listed securities and investments in other corporations are shown as
follows:
(*) Amounts shown net of provision for reduction in value.
(a) We now have a nil shareholding in SMS Management and
Technology Limited following the sell down of options and shares in
September 2001 and November 2001.
(b) INTELSAT was incorporated on 18 July 2001 and subsequently
changed its name to Intelsat Ltd. Our interest in this investment has
been reclassified in the current year from a satellite consortium
investment to an investment in other corporations (refer note 1.10(f).
(c) During fiscal 2002, we sold our shareholding in corProcure Pty Ltd.
(d) Keycorp Limited (Keycorp) is no longer treated as a controlled
entity but is considered to be an associated entity (refer note 23 and
note 24). Accordingly, investments held by Keycorp in the CPI Card
Group are no longer carried in our financial statements. These
investments were fully written down in the current financial year.
Name of investment Principal Ownership Telstra Group’s recorded Telstra Entity’s recorded
activities interest amount of investment (*) amount of investment (*)
As at 30 June As at 30 June As at 30 June
2002 2001 2002 2001 2002 2001
%%$m $m $m $m
(i) Listed securities
SMS Management and
Technology Limited
(formerly Sausage Software
Limited) (a) . . . . . . . . . . .
Software development,
internet development and
eCommerce solutions -4.87 -6- -
Infonet Services Corporation
International
communications and
computing services 5.3 5.3 11 11 11 11
Commander
Communications Ltd . . . . .
Voice and data transmission
services 16.62 16.62 16 18 13 15
New Skies Satellites, N.V. . .
Provision of satellite
capacity 0.8 1.39 921 --
Other listed investments . . . 54--
41 60 24 26
(ii) Investments in other
corporations
Intelsat Ltd (b) . . . . . . . . .
Provision of satellite
capacity 1.71 - 60 -60 -
corProcure Pty Ltd (c) . . . . .
Horizontal open market
exchange services -16.74 -6--
CPI Card Group (d) . . . . . . .
Manufacture and sale of
financial magnetic stripe
cards -10.0 -9--
Other investments. . . . . . . 48-3
64 23 60 3