UOB Annual Report 2002 - United Overseas Bank

Notes to the Financial Statements
for the financial year ended 31 December 2002
30 Investment Securities (continued)
Included in the cost of investment securities are:
The Group
The Bank
2002 2001 2002 2001
$'000 $'000 $'000 $'000
Equity interests in companies in which the Group
has significant influence 703,498 705,066 506,138 –
These equity interests relate to companies in which the Group, through its acquisition of the OUB Group, presently has equity
interests of 20 to 50 percent and over whose financial and operating decisions it has significant influence. These investments
have not been accounted for as associates of the Group as they were acquired and held exclusively with a view to their subsequent
disposal in the near future.
31 Investments in Associates
The Group
The Bank
2002 2001 2002 2001
$'000 $'000 $'000 $'000
Quoted securities, at cost:
Equity shares 555,065 736,631 518,718 697,130
Debt securities 2,068 2,068 – –
Warrants 23,757 23,757 23,757 23,757
Unquoted securities, at cost:
Equity shares 335,329 287,444 167,757 19,674
Debt securities 2,014 – – –
918,233 1,049,900 710,232 740,561
Provision for diminution in value [Note 33(b)] – – (3,364) (2,960)
Group’s share of post-acquisition reserves
of associates, net of dividends received 356,012 731,422 – –
1,274,245 1,781,322 706,868 737,601
Market value at 31 December:
Quoted equity shares 701,321 1,095,208 507,617 878,338
Quoted debt securities 2,476 2,374 – –
Quoted warrants 36,017 45,979 36,017 45,979
739,814 1,143,561 543,634 924,317
The major associates of the Group as at the balance sheet date are set out in Note 47 to the financial statements. The carrying
amount of the Group’s investments in associates includes unamortised goodwill amounting to $17,581,000 (2001: Nil).
Amortisation has not commenced as the associate was acquired close to 31 December 2002.
130