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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP
GOVERNANCE
OPERATING
PERFORMANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
241
NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
6.
INVESTMENTS IN GROUP COMPANIES AND RELATED LOANS (continued)
6.2 Investments in and loans to joint ventures (continued)
Date
acquired
Country of
incorporation
Percentage
interest
held
Blue Label Mexico S.A. de C.V.
Joint venture
23 February
2011
Mexico
40
Blue Label Mexico S.A. de C.V.*
Joint venture
1 September
2012
Mexico
5
Blue Label Mexico S.A. de C.V.*
Joint venture
1 January
2014
Mexico
0.57
In the current year there was a further capital contribution of R89.3 million to BLM. This resulted in a dilution
of shares held by an outside shareholder increasing our shareholding to 45.57%.
Assets
R’000
Liabilities
R’000
Revenues
R’000
Loss
R’000
2014
Blue Label Mexico S.A. de C.V.
393 801
58 777 2 865 340
(131 465)
2013
Blue Label Mexico S.A. de C.V.
349 286
73 551 1 742 863
(113 155)
* On 1 September 2012, Blue Label Telecoms increased its shareholding in Blue Label Mexico S.A. de C.V. (BLM) by 5% for a
consideration of R21.1 million. A further capital contribution of R89.2 million was paid to BLM during the prior year. The
loan balance at 31 May 2012 of R27.8 million was capitalised during the prior year. In the current year, there was a further
capital contribution of R89.3 million to BLM.
2014
R’000
2013
R’000
7.
LOAN RECEIVABLE
Interest-bearing loan receivable
63 035
—
63 035
—
Interest-bearing loans bear interest at 10% per annum.