Analysis of investments in associates and joint ventures
for the year ended 31 December
| Equity-accounted | Market value/ | Net indebtedness of loans | |||||||||||
| Percentage holding | Date to which | earnings | Carrying amount | directors' valuation | to/(from) associates | ||||||||
| 2005 | 2004 | Acquisition | equity income | 2005 | 2004 | 2005 | 2004 | 2005 | 2004 | 2005 | 2004 | ||
| Name of company and nature of business | % | % | date | Year-end | accounted for | Rm | Rm | Rm | Rm | Rm | Rm | Rm | Rm |
| Listed | |||||||||||||
| Banking | |||||||||||||
| State Bank of Mauritius Ltd*** | 20,1 | 20,1 | Nov 97 | Jun | Aug 2005 | 34 | 51 | 336 | 356 | ||||
| Technology | |||||||||||||
| Net 1 Applied Technology Holdings Ltd**** | Jul 00 | Jun | 22 | ||||||||||
| Unlisted | |||||||||||||
| Banking | 10 | 6 | 79 | 70 | 79 | 60 | – | – | |||||
| Banque SBM Madagascar | 20 | Dec 99 | Jul | Aug 2005 | 1 | 8 | 4 | ||||||
| SBM Nedbank International Limited | 50 | 50 | Jul 99 | Dec | Dec 2005 | 10 | 5 | 79 | 62 | 79 | 56 | ||
| Technology | 16 | 22 | 11 | 127 | 11 | 275 | – | 55 | |||||
| Acturis Ltd++ | 70,1 | 68,7 | Mar 01 | Sep | Dec 2005 | 11 | 23 | 11 | 27 | ||||
| The Internet Solution (Pty) Ltd | 20 | Jun 00 | Sep | Jul 2005 | 10 | 21 | 70 | 200 | 23 | ||||
| The IQ Business Group (Pty) Ltd*** | 41,4 | 46,1 | Jul 00 | Jun | Dec 2005 | 6 | 1 | 34 | 48 | 32 | |||
| Other | 107 | 46 | 567 | 486 | 762 | 668 | 241 | 142 | |||||
| BoE (Pty)Ltd+ | 50 | 50 | Jan 03 | Dec | Dec 2005 | 33 | 22 | 140 | 107 | 140 | 107 | ||
| Nedgroup Life Assurance Company Ltd+ | 50 | 50 | Jan 03 | Dec | Dec 2005 | 21 | (12) | 45 | 47 | 45 | 43 | (12) | |
| Bones Development Phase 3 (Pty) Ltd** | Jan 92 | Dec | Dec 2005 | 12 | |||||||||
| Capegate Lifestyle (Pty) Ltd | 34 | 34 | Dec 02 | Aug | Dec 2005 | 24 | 3 | 24 | 3 | 19 | 3 | ||
| Capricorn Science & Technology (Pty) Ltd | 41,5 | 10,4 | Nov 98 | Sept | Dec 2005 | 30 | 30 | ||||||
| Century Square Development Trust | 35 | 35 | May 01 | Feb | Dec 2005 | 3 | 2 | 3 | 2 | ||||
| Corovest - NIB Property Asset Management** | 35 | May 00 | Dec | Dec 2005 | * | 7 | 7 | 7 | |||||
| G & C Shelf 31 (Pty) Ltd | 40 | 40 | May 04 | Feb | Dec 2005 | * | 8 | 1 | 28 | 11 | 21 | 10 | |
| Grapnel Property Group (Pty) Ltd | 40 | 40 | Mar 03 | Sept | Dec 2005 | 17 | 7 | ||||||
| Kimberly Clark SA Holdings (Pty) Ltd | 50 | 50 | Aug 04 | Dec | Dec 2005 | 28 | 26 | 242 | 214 | 349 | 349 | ||
| Lyric Rose (Pty) Ltd | 48,8 | 36,8 | Jul 02 | Feb | Dec 2005 | 1 | 8 | 6 | 8 | 6 | 8 | 6 | |
| Robow Investments No 47 (Pty) Ltd | 50 | 50 | Dec 02 | Feb | Dec 2005 | * | 5 | 7 | 5 | 7 | 7 | 7 | |
| Sanbona Properties (Pty) Ltd | 50 | 50 | Oct 03 | Apr | Dec 2005 | (7) | 12 | 43 | 59 | 51 | |||
| Sandton Square Portion 8 (Pty) Ltd | 25 | Jul 02 | Apr | Dec 2005 | * | 6 | 29 | 28 | 29 | 28 | |||
| Steenberg Office Development (Pty) Ltd | 25 | 25 | Jul 02 | Feb | Dec 2005 | * | 1 | 1 | 1 | 1 | 1 | ||
| Wirlprop 33 (Pty) Ltd | 49 | Jan 05 | Feb | Dec 2005 | 22 | 22 | 22 | ||||||
| Other | Dec 2005 | 3 | 4 | 22 | 85 | 59 | 61 | 98 | 41 | ||||
| 167 | 147 | 657 | 1019 | 852 | 1 359 | 241 | 197 | ||||||
|
*Represents amounts less than R1 million. **Disposed of in 2004.
***No longer accounted for as an associate, still reflects equity income for the year. ****No longer an associate, transferred to non-current assets held for sale. +Joint ventures. ++ Consists of preference shares which do not carry voting rights, therefore accounted for as an associate. |
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