6
TIH Limited
Notes:
The Group classifies its investments into three categories: available-for-sale investments, investments at fair value
through profit or loss and loans and receivables (See Note 3.3(i) of the Financial Statements for further details).
Unrealised gains and losses arising from changes in the fair value of both quoted and unquoted investments classified
as available-for-sale are recognised in other comprehensive income and presented in the fair value reserve within
equity. When investments classified as available-for-sale are sold or impaired, the accumulated balance in the fair
value reserve within equity is reclassified in the profit or loss statement. As at 31 December 2014, the Group has two
portfolio investments which were held directly through the parent company, TIH Limited. These investments were
accounted for as available-for-sale investments in the consolidated financial statements.
Realised and unrealised gains and losses arising from changes in the fair value of the “investments at fair value
through profit or loss” category are included in the profit or loss statement in the period in which they arise. As at 31
December 2014, the Group has two controlled subsidiary investments, Little Rock Group Limited and Killian Court
Pte. Ltd., which do not provide investment-related services. These subsidiaries were measured at fair value through
profit or loss in accordance with the amended
FRS 110 Consolidated Financial Statements- Investment Entities
.
Loans and receivables are measured at amortised cost using the effective interest method less any impairment losses.
Interest income and any impairment losses are recognised in the profit or loss statement.
(1)
Available-for-sale investments and loan receivable
During the financial year ended 31 December 2014:
(a)
the Group recorded fair value loss on available-for-sale investments in other comprehensive income
of S$15.34 million mainly attributed to the unquoted investment in Fortune Code Limited and ACE
International (BVI) Limited; and
(b)
interest income of S$2.25 million from loan granted to a portfolio company. The loan, which will
mature in October 2015, has a carrying amount of S$27.97 million as at 31 December 2014.
(2)
Investments at fair value through profit or loss
During the financial year ended 31 December 2014:
(a)
the Group invested in quoted shares in Comtec Solar Systems Group Limited and exited with a gain
of S$0.58 million;
(b)
the Group invested in Batavia Enterprise Limited, Garden Road Holding Limited, Sanmin Road
Limited and TIHT Investment Holdings Pte Ltd and recorded total fair value gains of S$3.04
million; and
(c)
the Group recorded unfavourable change in fair value of S$0.5 million from its share in the net
asset value of Transpac Funds.
