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HK Electric Investments
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS
OF THE TRUST AND OF THE COMPANY
(Expressed in Hong Kong dollars)
1.
Review of unaudited interim financial statements
These unaudited consolidated interim financial statements have been reviewed
by the Audit Committees.
2.
General information
HK Electric Investments Limited (the “Company”) was incorporated in the
Cayman Islands on 23 September 2013 as an exempted company with limited
liability under the Companies Law 2011 (as consolidated and revised) of the
Cayman Islands.
On 1 January 2014, HK Electric Investments (the “Trust”) was constituted
by a Hong Kong law governed Trust Deed entered into between HK Electric
Investments Manager Limited (the “Trustee-Manager”, in its capacity as the
trustee-manager of the Trust) and the Company. The scope of activity of the
Trust as provided in the Trust Deed is limited to investing in the Company.
3.
Basis of presentation
Pursuant to the Trust Deed, the Trust and the Company are each required
to prepare their own sets of interim financial statements on a consolidated
basis. The unaudited consolidated interim financial statements of the Trust for
the period ended 30 June 2016 comprise the unaudited consolidated interim
financial statements of the Trust, the Company and its subsidiaries (together
the “Trust Group”). The unaudited consolidated interim financial statements
of the Company for the period ended 30 June 2016 comprise the unaudited
consolidated interim financial statements of the Company and its subsidiaries
(together the “Group”).
The Trust controls the Company and the sole activity of the Trust during the six
months period ended 30 June 2016 was investing in the Company. Therefore,
the consolidated results and financial position that would be presented in the
unaudited consolidated interim financial statements of the Trust are identical to
the consolidated financial results and financial position of the Company with
the only differences being disclosures of share capital of the Company. The
Directors of the Trustee-Manager and Directors of the Company believe that
it is clearer to present the unaudited consolidated interim financial statements
of the Trust and of the Company together. The unaudited consolidated interim
financial statements of the Trust and the unaudited consolidated interim
financial statements of the Company are presented together to the extent they
are identical and are hereinafter referred as the “unaudited consolidated interim
financial statements of the Trust and of the Company”.
The Trust Group and the Group are referred as the “Groups”.