Annual Report 2020

210 Transport International Holdings Limited 2020 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 18 Interest in joint venture (continued) For the period from 30 December to 31 December 2020 $’ 000 Revenue 111 Profit for the period 70 Total comprehensive income 70 Reconciled to the Group’s interest in the joint venture Gross amounts of net assets of the joint venture attributable to equity shareholders 70 Group’s effective interest 50% Group’s share of net assets of the joint venture 35 Fair value of retained interest in the joint venture 710,537 Loan to a joint venture (note 2) 39,975 Carrying amount in the consolidated financial statements 750,547 Note 2: Loan to a joint venture is unsecured, interest-free and has no fixed terms of repayment. 19 Other financial assets 2020 2019 Note $’ 000 $’ 000 Equity securities designated at FVOCI (non-recycling) – Unlisted equity securities (i) 517,575 515,926 Financial assets measured at FVOCI (recycling) – Debt securities listed outside Hong Kong (ii) 1,155,656 1,449,971 Financial assets measured at amortised cost – Loan receivables 34,541 – 1,707,772 1,965,897 Less: debt securities listed outside Hong Kong classified as current assets (234,075) (702,363) loan receivables classified as current assets (123) – Other financial assets classified as non-current assets 1,473,574 1,263,534 Notes: (i) The unlisted equity securities mainly represented a company incorporated in Hong Kong and engaged primarily in the business of managing a common ticketing and payment system. The Group designated its investments in unlisted equity securities at FVOCI (non-recycling), as the investments are held for strategic purposes. Dividends of $31,000,000 (2019: $40,300,000) were received on these investments during the year. (ii) Debt securities are issued by corporate entities with credit rating ranging from BB- to A. As at 31 December 2020 and 2019, the Group’s investments in debt securities were neither past due nor impaired. Debt securities that will mature within one year are classified as current assets.