Notes to the financial statements
Year ended 31 March 2016
8 Investment in joint venture
Group
Trust
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Unquoted equity investment, at cost
1
–
–
–
Share of post-acquisition reserve
43
–
–
–
44
–
–
–
Details of the joint venture is as follows:
Name of joint venture
Principal of business/
establishment
Effective equity
held by the
Group and Trust
2016
2015
%
%
Changi City Carpark Operations LLP
Singapore
39.914
–
Changi City Carpark Operations LLP (“CCCO”) is an unlisted joint arrangement in which the Group has joint control via
a partnership agreement and 39.914% equity interest. CCCO manages and operates the car park at ONE@Changi City.
CCCO is structured as a separate vehicle and the Group has a residual interest in its net assets. Accordingly, the Group
has classified its interest in CCCO as a joint venture, which is equity-accounted.
9 Other assets
In the previous financial year, other assets relate to a deposit paid for land acquired for the development of a logistics
facility in Jiashan, China, which has been reclassified as investment property in March 2016 subsequent to the completion
of development works.
.174
A-REIT ANNUAL REPORT
2015/2016
