Annual Report 2019

China Merchants China Direct Investments Limited Annual Report 2019 116 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2019 16. INVESTMENT DEPOSITS A cash outlay for an investment in Anhui iFlytek Healthcare Information Technology Co., Ltd. (“ iFlytek Healthcare ”) with an amount of RMB60 million (equivalent to approximately US$8.60 million) was made on 31 December 2019 and was classified as investment deposit at FVTPL as at the reporting date as the transfer of legal title of shareholding will be completed subsequent to the reporting date. A cash of RMB44 million (equivalent to approximately US$6.31 million) was kept in an escrow account as partial consideration for an investment in a new financial services project as at 31 December 2019 and was classified as investment deposit at FVTPL as at the reporting date. The cash consideration will be released to the counterparty subject to satisfaction of pre-requisite conditions according to the share transfer agreement. 17. OTHER RECEIVABLES AND PREPAYMENTS 2019 2018 US$ US$ Dividend receivable 897,007 5,129,587 Interest receivable 91,986 106,748 Other receivables and prepayments 19,392 3,062 Total 1,008,385 5,239,397 18. CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise current accounts, savings accounts and short-term bank deposits at fixed prevailing market interest rates. Cash and cash equivalents held by subsidiaries in the PRC are subject to exchange control restrictions. The carrying amount of such balances in the consolidated financial statements as at 31 December 2019 was approximately of US$38.08 million (2018: US$20.04 million). 19. OTHER PAYABLES Other payables mainly comprise management fee payable to the Investment Manager as disclosed in note 29 and business tax payable of US$19,607,487 (2018: US$19,607,487) arising from disposal of listed equity securities. 20. TAXATION PAYABLE The taxation payable represents applicable PRC taxes calculated at the rates prevailing in the relevant regions mainly for the withholding tax on dividends declared by PRC subsidiary.