Page 118 - Neal and Massy Holdings Annual Report 2012

116 2012
NOTES TO THE Consolidated FINANCIAL STATEMENTS
September 30, 2012
Expressed in Thousands of Trinidad and Tobago dollars
10 Investments In Associates And Joint Ventures
2012 2011
$ $
Investment and advances 286,174 293,240
Share of post acquisition reserves 120,591 112,138
406,765 405,378
Balance at beginning of year 405,378 453,282
Additional investments 2,829 15,951
Share of results before tax 54,175 40,578
Share of tax (43,187) (13,807)
Dividends received (7,876) (24,256)
Exchange differences (53) 3,826
Transferred to disposal group classified as held for sale (Note 35) - (31,160)
Other (4,501) (39,036)
Balance at end of year 406,765 405,378
The share of results before tax includes $766 in 2012 (2011: $766) representing the impairment charge for goodwill in respect
of acquisition of associates. Investments in associates at September 30, 2012 include goodwill of $7,855 (2011: $8,621), net of
accumulated impairment of $6,894 (2011: $6,128).
The principal associate is Banks Holdings Limited which is listed and incorporated in Barbados.
2012 2011
$ $
Investments and advances 190,345 190,347
Share of post acquisition losses (8,932) (8,633)
181,413 181,714