Page 156 - Annual Report 2014

10 Balances with Related Parties Overview

The immediate and ultimate holding companies are Asia Mobile Holdings Pte. Ltd. and Temasek Holdings (Private) Limited
respectively. These companies are incorporated in the Republic of Singapore.

10.1 Amounts due from related parties

Group Company Strategy

2014 2013 2014 2013

Note $m $m $m $m

Current 10.3 – – 22.0 22.0 Performance
Loan to subsidiary
Amounts due from (trade): 0.1 0.1 0.1 0.1
– Ultimate holding company – – 238.3 80.3
– Subsidiaries
– Related corporations 17.3 23.9 12.2 8.9
17.4 24.0 272.6 111.3

Non-current – – 106.0 123.0 Governance
Loans to subsidiaries

At 31 December 2014, the loans to subsidiaries are unsecured and bore interest ranging from 2.03% to 3.48% (2013: 2.22%
to 3.48%) per annum.

10.2 Amounts due to related parties Group Company Financials
Note 31 December
31 December 31 December 31 December 1 January
2014 2013 2013
2014 2013 (Restated)
$m (Restated)
$m $m $m $m

Amounts due to (trade): 10.3 – – 320.9 386.3 297.0
– Subsidiaries
– Related corporations 99.2 76.5 64.7 49.2 46.9

99.2 76.5 385.6 435.5 343.9

The amounts due to subsidiaries include unsecured interest bearing amounts of $111.7 million (2013: $110.7 million) at interest
rates ranging from 0.91% to 1.20% (2013: 0.85% to 1.20%) per annum and are repayable on demand. The remaining amounts
due to subsidiaries have trade terms.

10.3 The Company’s balances with subsidiaries included amounts netted under agreed master netting arrangements; the amounts
before netting are as follows:

Gross amounts Gross amounts Net amounts
offset

Company $m $m $m

31 December 2014 672.9 (434.6) 238.3
Amounts due from subsidiaries 755.5 (434.6) 320.9
Amounts due to subsidiaries

31 December 2013 608.8 (528.5) 80.3
Amounts due from subsidiaries 914.8 (528.5) 386.3
Amounts due to subsidiaries

StarHub Ltd | Annual Report 2014 153