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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
25. ASSOCIATES
The Group has the following investments in associates:
Ownership interest
Name of entity
Principal activity
Country
December 2016
%
December 2015
%
Canberra Metro Holdings Trust
1
Construction
Australia
30
-
Canberra Metro Holdings Pty Ltd
1
Construction
Australia
30
-
Canberra Metro Pty Ltd
Construction
Australia
30
-
Dunsborough Lakes Village Syndicate
1
Development
Australia
20
20
HLG Contracting LLC
5
(formerly known as Al
Habtoor Leighton LLC)
Construction
United Arab Emirates
-
45
LCIP Co-Investment Unit Trust
3
Investment
Australia
-
11
Macmahon Holdings Limited
1
Construction, Contract Mining Australia
21
20
Metro Trains Australia Pty Ltd
1, 6
Services
Australia
20
-
Metro Trains Melbourne Pty Ltd
1, 6
Services
Australia
20
-
Metro Trains Sydney Pty Ltd
1, 6
Services
Australia
20
-
On Talent Pty Ltd
1
Recruitment
Australia
33
-
Paradip Multi Cargo Berth Private Limited
2
Development
India
-
26
Sedgman Limited
1, 4
Mineral Processing
Australia
-
37
Wellington Gateway General Partner No.1
Limited
3
Investment
New Zealand
15
15
All associates have a statutory reporting date of 31 December with the following exceptions:
1
Entities have a 30 June statutory reporting date.
2
Entities have a 31 March statutory reporting date.
3
The Group’s investment was equity accounted as a result of the Group’s active participation on the Board and the Group’s ability to impact
decision making, leading to the assessment that significant influence exists.
4
As at 31 December 2015, the Group’s ownership interest in Sedgman was 37%, and it was an equity accounted associate of the Group. In
the period to 31 December 2016 the Group increased its ownership interest in Sedgman to 100%. Refer to Note 29: Acquisitions and
disposals of controlled entities and businesses.
5
HLG Contracting LLC (“HLG Contracting”) was an equity accounted associate of the Group as at 31 December 2015. In the period to 31
December 2016 joint control was obtained with no increased shareholding and the entity has been reclassified as a Joint Ventue. Refer to
Note 26: Joint venture entities.
6
Entities attained through the purchase of UGL refer to Note 29: Acquisitions and disposals of controlled entities and businesses.
Percentages are based on 100% ownership of UGL, acquired on 20 January 2017.
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