AEG 21604 G Manual de usuario descargar pdf (Pagina 517)

100

101

F-276

2. Financial fixed assets

2009 2008

€ 1,000 € 1,000

Participating interests in group companies................................

........................

57,882

43,052

Provision for participating interest and loans................................

....................

(12,494)

(9,694)

Loans receivable - shareholder................................................................

..........

7,100

Loans receivable - related parties ................................................................

.....

12,710

17,054

65,198

50,412

Investments in participating interests in group companies and loans receivables not carried at fair value are as-

sessed for impairment at each reporting date.

Investments in participating interests are valued at cost. Upon negative equity of the participations the invest-

ments are valued at nil unless the Company guarantees for the debts of the respective participating interest, a

provision is recognised.

For the year end 2008 a provision for participating interest has been recorded of € 9, 694,000. An amount of €

817,000 was provided for Harmer & Simmons PSS (India) Private Limited and an amount of € 8,877,000 was

provided for AEG PS Inc (Canada).

For the year end 2009 a net increase in provisions occurred of € 2,800,000. For Harmer & Simmons PSS (India)

Private Limited an additional provision was recorded of € 800,000. For AEG PS Inc (Canada) a provision was

recorded of € 2,000,000 for the loan issued.

Loans receivable related parties and loans receivable shareholder represents loans that have been issued for the

purpose of insuring the availability of cash reserves. The terms and conditions of the underlying agreement stipu-

lates partly or fully repayment at the earliest possible date. The interest rate is based on 3 months EURIBOR +

2%.

The movements of the financial fixed assets can be shown as follows:

Participating

interests in

group com-

panies

Provision

participa-

ting interest

Loans recei-

vable - less

provision

Total

€ 1,000 € 1,000 € 1,000 € 1,000

Balance as at 1 January 2009

...............................

43,052

(9,694)

17,054

50,412

Changes:

• Payment/(repayment)

................................

2,756

• Increase participating interests

........................

• Liquidation Romanian subsidiary

....................

17,130

(2,300)

17,130

(2,300)

• Net (increase) / decrease of provisions

............

(800)

(2,000)

(2,800)

Balance as at 31 December 2009

.........................

57,882

(10,494)

17,810

65,198

The liquidation of the Romanian subsidiary did not have any significant effect on the income statement.

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AEG 21604 G Manual de usuario Pagina 517

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AEG 21604 G Manual de usuario Pagina 517

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