Investor Presentaiton
How to distinguish between 'integral' and 'non-
integral' associates or joint ventures?
Meeting
Jan 2018
Board
meeting
(cont'd)
Outcome
Board members analysed the following views:
9
View 1: treat all joint ventures as 'integral' and all associates as 'non-
integral.
• View 2: (favoured by the Board)-use our proposed definition of
'income/expenses from investments' (refer to slide # 6) to make the
split between 'integral' and 'non-integral' and provide further guidance
to help making this distinction.
View 3: develop a definition of 'integral'.
⚫ are the activities of an associate or joint venture integrated into an
entity's business/operating activities?
are the activities of an associate or joint venture essential and
fundamental to the investor?View entire presentation