Annual Report 2022

212 Transport International Holdings Limited 2022 Annual Report NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 16 Interest in subsidiaries (continued) Percentage of ownership interest Name of company Place of incorporation and business Particulars of issued and paid-up capital Group’s effective interest Held by the Company Held by subsidiaries Principal activity KMB Financial Services Limited Incorporated in the British Virgin Islands and operates in Hong Kong 1 share of US$1 100 – 100 Group treasury management KMB (Beijing) Taxi Investment Limited Incorporated in the British Virgin Islands and operates in Hong Kong 1 share of US$1 100 – 100 Investment holding KMB (Shenzhen) Transport Investment Limited Incorporated in the British Virgin Islands and operates in Hong Kong 1 share of US$1 100 – 100 Investment holding 17 Interest in associates 2022 2021 $’000 $’000 Share of net assets 538,681 615,239 Goodwill 61,006 66,392 Amount due from an associate 109 118 599,796 681,749 Amount due from an associate is unsecured, interest-free and has no fixed terms of repayment. The following list contains the particulars of the material associate, which is an unlisted corporate entity whose quoted market price is not available: Percentage of ownership interest Name of associate Form of business structure Place of establishment and business Particulars of registered and paid-up capital Group’s effective interest Held by subsidiaries Principal activity 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.