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NOTES TO THE
FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2015

6 Associate

Group Company

2015 2014 2015 2014
$m $m $m $m

Investment in associate 27.8 – 27.8 –
Share of post-acquisition reserves (0.3) – – –
27.5 – –
27.8

Name of company Principal activities Country of Effective equity
incorporation/ interest held by the Group

business

2015 2014

%%

SHINE Systems Assets Pte. Ltd. (1) Investment in, ownership or lease of Singapore 30(2) –
infrastructure assets and provision of data
centre services

(1) Audited by KPMG LLP Singapore

(2) On 22 July 2015, StarHub Ltd diluted its controlling interest in the company and the company was subsequently equity accounted for in the
consolidated financial statements based on its results ended 31 December 2015, the financial year-end of the company (Note 5).

The following summarises the financial information of the associate, based on its financial statements prepared in accordance
with FRS, amended for fair value adjustments on acquisition.

2015 2014
$m $m

Summarised Statement of Financial Position

Non-current assets 93.2 –
Current assets 14.4 –
Current liabilities (15.9) –
Net assets 91.7 –

Reconciliation to carrying amount: 93.4 –
Opening net assets (1.7) –
Loss for the year 91.7 –
Closing net assets