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HK Electric Investments
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS
OF HK ELECTRIC INVESTMENTS MANAGER LIMITED
(Expressed in Hong Kong dollars)
1.
Review of unaudited interim financial statements
These unaudited interim financial statements have been reviewed by the Audit
Committee.
2.
General information
HK Electric Investments Manager Limited (the “Company”) was incorporated in
Hong Kong under the Hong Kong Companies Ordinance on 25 September 2013
and is an indirect wholly-owned subsidiary of Power Assets.
The principal activity of the Company is administering HK Electric Investments
(the “Trust”), in its capacity as trustee-manager of the Trust. The costs and
expenses of administering the Trust may be deducted from all property and
rights of any kind whatsoever which are held on trust for the registered holders
of units of the Trust but, commensurate with its specific and limited role, the
Company will not receive any fee for administering the Trust.
3.
Basis of presentation
The Trust Deed requires the Company (on behalf of the Trust) to distribute
100% of the dividends, distributions and other amounts received in respect of
the ordinary shares from HK Electric Investments Limited, after deduction of all
amounts permitted to be deducted or paid under the Trust Deed.
In accordance with the Trust Deed, a distributions statement shall be included
in the financial statements of the Company. As the details of the distribution
has already been presented in note 21 to the unaudited consolidated interim
financial statements of the Trust and of HK Electric Investments Limited on page
27, no distributions statement is therefore presented in these unaudited interim
financial statements.