Annual Report 2019

198 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 17 Interest in associates 2019 2018 $’ 000 $’ 000 Share of net assets 532,434 527,619 Goodwill 60,584 61,704 Amount due from an associate 18,834 26,547 Amount due to an associate (4,922) (4,922) 606,930 610,948 Amounts due from/to associates are unsecured, interest-free and have no fixed terms of repayment/settlement. The amount due from an associate is neither past due nor impaired. The following list contains the particulars of the material associate, which is an unlisted corporate entity whose quoted market price is not available: Name of associate Form of business structure Place of establishment and business Particulars of registered and paid-up capital Percentage of ownership interest Principal activity Group’s effective interest Held by subsidiaries Shenzhen Bus Group Company Limited Sino-foreign joint stock company The PRC RMB951,430,306 35 35 Provision of bus and taxi hire services (note) Note: Shenzhen Bus Group Company Limited, a transportation operator in the PRC, enables the Group to have exposure to this market through local expertise.