| |
| |
June 2016
R’000 |
|
June 2016
R’000 |
|
| Unlisted investments at cost |
– |
|
– |
|
428 144 |
|
428 144 |
|
|
|
|
|
|
| Name |
Main
business |
|
Country of
incorporation |
|
Interest held
(voting rights) |
|
| 2017 and 2016 |
|
|
|
|
|
|
| Directly held |
|
|
|
|
|
|
| AfroCentric Resources (Pty) Ltd |
Dormant |
|
South Africa |
|
100% |
|
| AfroCentric Capital (Pty) Ltd |
Dormant |
|
South Africa |
|
100% |
|
| ACT Healthcare Assets (Pty) Ltd |
Investment holding |
|
South Africa |
|
71.3%** |
|
| ACT Funding (Pty) Ltd |
Financing |
|
South Africa |
|
100% |
|
| Indirectly held |
|
|
|
|
|
|
| AfroCentric Health (Pty) Ltd |
Healthcare Administration |
|
South Africa |
|
71.3% |
|
The indirectly held subsidiary, Medscheme Holdings Proprietary Limited, owned by AfroCentric Health Proprietary Limited,
operates in the healthcare administration industry. The total aggregate assets, liabilities and results of Medscheme Holdings
Proprietary Limited’s operations are summarised as follows:
Summarised statement of financial position of Medscheme Holdings Proprietary Limited:
| |
| |
June 2016
R’000 |
|
| Non-current assets (excluding intangible assets) |
158 491 |
|
149 183 |
|
| Intangible assets |
18 777 |
|
15 079 |
|
| Current assets |
950 271 |
|
725 973 |
|
| Total assets |
1 127 539 |
|
890 235 |
|
| Non-current liabilities |
27 850 |
|
22 764 |
|
| Current liabilities |
235 681 |
|
219 484 |
|
| Total liabilities |
263 531 |
|
242 248 |
|
|
|
|
Summarised statement of comprehensive income of Medscheme Holdings Proprietary Limited:
| |
| |
June 2016
R’000 |
|
| Revenue |
2 008 106 |
|
1 860 722 |
|
| Profit for the period |
216 194 |
|
137 889 |
|
| Other comprehensive (loss)/income |
(285) |
|
206 |
|
| Total comprehensive income |
215 909 |
|
138 095 |
|
|
|
|
Summarised statement of cash flows of Medscheme Holdings Proprietary Limited:
| |
| |
June 2016
R’000 |
|
| Net cash inflow from operating activities |
309 744 |
|
66 108 |
|
| Net cash outflow from investing activities |
(188 432) |
|
(222 380) |
|
| Net cash inflow from financing activities |
1 234 |
|
36 468 |
|
| Net decrease in cash and cash equivalents |
(122 546) |
|
(119 804) |
|
|
|
|
| ** |
During the prior year, the Company’s shareholding in ACT Healthcare Assets Proprietary Limited was diluted to 71.3% as a result of a share issue
to Sanlam. The proceeds on disposal of R703 million were received in cash. An amount of R456.3 million (being the proportionate
share of the carrying amount of the net assets of ACT Healthcare Assets Proprietary Limited has been transferred to non-controlling interest
(Note 16). The difference of R246.6 million between the increase in the non-controlling interest and the consideration received has been credited
directly to equity. |
|