4. Subsidiaries
 

Details of the group’s subsidiaries at the end of the year are as follows:

          Proportion of ownership
interest and voting power
held by the group
 
Name of subsidiary   Principal activity Place of
incorporation
and operation
  2018
%
  2017
%
 
Hyprop Investments (Mauritius) Limited (Hyprop Mauritius)   Investing in indirect development or income-producing properties in sub-Saharan Africa (excluding SA) Mauritius   100   100  
African Land Investments Limited (African Land)   Dormant South Africa   100   100  
Hyprop Investments Employee Incentive Scheme Proprietary Limited (Hyprop Employee Incentive Scheme)   To hedge the obligation of the company to deliver Hyprop shares to employees, arising from allocations to employees in terms of the Hyprop Employee Incentive Scheme South Africa   100   100  
Hyprop Foundation NPC (Hyprop Foundation)   Company formed to further sustainability, enterprise development, socio-economic development and the corporate social initiatives of Hyprop South Africa   100   100  
Hyprop Ikeja Mall Limited (Hyprop Ikeja)(1)   Owns the shares in Gruppo Investments Nigeria Limited Mauritius   100   100  
Gruppo Investments Nigeria Limited (Gruppo)(2)   Owns Ikeja City Mall in Lagos, Nigeria Nigeria   75   75  

(1) Wholly owned subsidiary of Hyprop Mauritius

(2) Hyprop Ikeja owns 75% of the shares in Gruppo

4.1 Subsidiaries and transactions with non-controlling interests
 

Gruppo

Set out below is a summary of audited financial information for Gruppo, which owns 100% of the Ikeja City Mall in Lagos, Nigeria, and in which Hyprop has a 75% interest.

  2018
R000
  2017
R000
 
Summarised statement of financial position             
Current assets  114 396     86 978    
Current liabilities  (113 761)    (35 215)   
   635     51 763    
Non-current assets  2 072 511     1 972 763    
Non-current liabilities  (1 712 560)    (1 648 020)   
   359 951     324 743    
Net assets  360 586     376 506    
Non-controlling interest  90 320     94 299    
Summarised statement of comprehensive income             
Revenue  224 577     249 902    
Net (loss)/profit  (34 170)    82 871    
Other comprehensive profit/(loss) (foreign currency translation reserve) 18 250     (60 972)   
Total comprehensive (loss)/income  (15 920)    21 899    
(Loss)/profit allocated to non-controlling interest  (3 980)    5 475    
Dividends paid to non-controlling interest  nil     nil    
Summarised cash flows             
Cash flows from operating activities  86 412     37 360    
Cash flows applied to investing activities  (2 723)    (470)   
Cash flows applied to financing activities  (78 363)    (77 094)