The following is the summarised information of Joint Ventures and Associates : | ||||
2021 R ' m
|
2020 R ' m
|
|||
Statement of financial position : Non-current assets |
311 |
810 |
||
Current assets , excluding cash and cash equivalents |
330 |
731 |
||
Cash and cash equivalents |
166 |
190 |
||
Trade payables |
( 218 ) |
( 376 ) |
||
Provisions |
( 8 ) |
( 10 ) |
||
Other current financial liabilities |
( 1 ) |
( 547 ) |
||
Non-current liabilities |
( 124 ) |
( 154 ) |
||
Non-controlling interest |
( 14 ) |
( 2 ) |
||
Equity |
442 |
642 |
||
Proportion of the group ' s ownership in joint venture equity |
80 |
286 |
||
Proportion of the group ' s ownership in associate equity |
101 |
31 |
||
Proportion of other investor ' s ownership in joint venture and associate equity |
261 |
326 |
||
The total revenue and profit of Joint Ventures and Associates are as follows : Revenue |
2 082 |
2 719 |
||
Cost of sales |
( 1 590 ) |
( 2 095 ) |
||
Operating expenses , excluding depreciation , amortisation and impairment loss |
( 425 ) |
( 582 ) |
||
Depreciation and amortisation |
( 33 ) |
( 51 ) |
||
Other income |
37 |
36 |
||
Investment income |
15 |
16 |
||
Finance costs |
( 23 ) |
( 46 ) |
||
Profit /( loss ) before tax |
63 |
( 3 ) |
||
Tax |
( 15 ) |
( 25 ) |
||
Profit /( loss ) after tax |
48 |
( 28 ) |
||
Group ' s share of profit /( loss ) from joint ventures * |
19 |
( 22 ) |
||
Group ' s share of ( loss )/ profit from associates * |
( 5 ) |
3 |
||
Other investor ' s share of profit /( loss ) from joint ventures and associates |
34 |
( 9 ) |
||
Group ' s share of other comprehensive income from joint ventures and associates |
- |
1 |
||
Dividends received from joint venture |
( 3 ) |
( 5 ) |
||
* Includes net positive adjustment due to a group reversal and prior year corrections of R1 million ( 2020 : negative adjustment of R2 million ). | ||||
Summarised cash flows of Joint Ventures and Associates are as follows : | ||||
Generated from operating activities |
272 |
162 |
||
Used in investing activities |
( 17 ) |
( 77 ) |
||
Used in financing activities |
( 244 ) |
( 39 ) |
||
Net increase in cash flows |
11 |
46 |
||
GROUP |
||||
2021 R ' m |
2020 R ' m |
|||
Total carrying amount of Joint Ventures and Associates |
169 |
216 |
||
9 . |
LOANS AND OTHER RECEIVABLES |
|||
Represent debtors for financing of mortgage loans ( note 9.1 ) granted over varying terms of up to 120 months . The underlying asset serves as security for the | ||||
loans / agreements . Interest rates are market-related and can be variable or fixed , depending on the specific agreement . | ||||
GROUP | ||||
Notes |
2021 R ' m |
2020 R ' m |
||
Gross investment in mortgage loans |
2 264 |
2 167 |
||
Less : Unearned finance income |
( 548 ) |
( 530 ) |
||
Carrying amount |
1 716 |
1 637 |
||
Less : Current portion |
11 |
( 337 ) |
( 398 ) |
|
Total loans and other receivables before allowance for expected credit losses |
1 379 |
1 239 |
||
Allowance for expected credit losses |
9.1.4 |
( 3 ) |
( 13 ) |
|
Total loans and other receivables |
9.1 |
1 376 |
1 226 |
|
9.1 |
Mortgage loans |
|||
GROUP | ||||
Notes |
2021 R ' m |
2020 R ' m |
||
Within one year |
338 |
398 |
||
After one year but not more than five years |
971 |
882 |
||
More than five years |
407 |
357 |
||
Carrying amount |
1 716 |
1 637 |
||
Less : Current portion |
( 337 ) |
( 398 ) |
||
Total mortgage loans before allowance for expected credit losses |
1 379 |
1 239 |
||
Allowance for expected credit losses |
9.1.4
|
( 3 ) |
( 13 ) |
|
Total |
1 376 |
1 226 |
||