Details of the group’s associate at the end of the reporting period are as follows:
| |
|
|
Proportion of
ownership interest |
|
| Name of investment |
Principal activity |
Place of
incorporation
and operation |
June
2016 |
|
June
2015 |
|
| AttAfrica SA Proprietary Limited (AttAfrica SA) |
Provides asset management and consulting services to AttAfrica |
South Africa |
37,5% |
|
37,5% |
|
The acquisition date of the investment was 14 July 2014.
Although Hyprop has a 37,5% interest, it does not participate on the board of AttAfrica SA and does not have significant influence over the entity. The investment is therefore not an associate, nor is it equity accounted.
| |
GROUP
June 2016
R000 |
|
GROUP
June 2015
R000 |
|
| Balance at beginning of year |
# |
|
|
|
| Acquired during the year |
|
|
# |
|
| Balance at end of year |
# |
|
# |
|
| # Values less than R1 000 |
|
|
|
|
| No impairment was recognised during the current year. |
|
|
|
|
| Statements of financial position – AttAfrica SA |
|
|
|
|
| Total assets |
5 021 |
|
474 |
|
| Non-current assets |
78 |
|
95 |
|
| Current assets |
4 943 |
|
379 |
|
| Total liabilities |
3 051 |
|
244 |
|
| Current liabilities |
3 051 |
|
244 |
|
| Net assets |
1 970 |
|
230 |
|
| Statements of profit or loss and other comprehensive income — AttAfrica SA |
|
|
|
|
| Total revenue |
17 253 |
|
5 233 |
|
| Total profit for the year |
1 740 |
|
229 |
|
|