NOTES TO FINANCIAL STATEMENTS
December 31, 2015
37
CONTINGENCIES AND GUARANTEES (Cont’d)
As at December 31, 2015, the Company has provided a guarantee to a bank in respect of a loan facility granted to a
subsidiary amounting to RMB1.599 billion (2014 : RMB1.699 billion) for a remaining term of less than seven years
up to July 26, 2022. The loan facility was fully drawn down as at the end of 2015 and 2014.
As at December 31, 2015, the Company has provided a guarantee to a non-controlling shareholder of subsidiaries
in respect of an interest-free current advance to a subsidiary amounting to RMB96 million (equivalent to US$15
million) (2014 : RMB91 million (equivalent to US$15 million)).
As at December 31, 2015, the joint venture Singapore Intelligent Eco Island Development Pte. Ltd. (“SIEID”) has
pledged its shares in the joint venture Sino-SingaporeNanjing EcoHi-tech IslandDevelopment Co., Ltd. (“SSNEHID”)
to banks as security for credit facilities used by a wholly-owned subsidiary of SSNEHID for property development.
SIEID’s contingent liability under this pledge of its shareholding in SSNEHID is limited to an amount of RMB217
million (2014 : RMB361 million). A subsidiary of the Company has provided guarantee of RMB165 million (2014 :
RMB275 million) for the same credit facilities.
As at December 31, 2015, a subsidiary of the Company has provided joint guarantees to banks in respect of the
following loan facilities granted to a wholly-owned subsidiary of SSNEHID:
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fully drawn down as at the end of 2015 and 2014. The subsidiary’s contingent liability as at December 31, 2015
for this joint guarantee is limited to an amount of RMB159 million (2014 : RMB171 million).
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drawn down as at the end of 2015. The subsidiary’s contingent liability as at December 31, 2015 for this joint
guarantee is limited to an amount of RMB388 million (2014 : RMB Nil).
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drawn down as at the end of 2015. The subsidiary’s contingent liability as at December 31, 2015 for this joint
guarantee is limited to an amount of RMB342 million (2014 : RMB Nil).
The management is of the view that the fair value of the financial guarantees provided by the Group and the Company
are not significant.
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