Mvelaphanda - Financial review - Principal investments, associated companies and joint ventures

Annual Report 2009

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		Performance overview Financial highlights Group portfolio Sustainability highlights Path to value unlocking Ten-year financial review Ten-year performance indicators Board of directors Board of directors Chairman's review Introduction Economic environment Financial results Board of directors Black-economic empowerment Governance Chief executive officer's review Introduction Strategic investments Mvelaserve Shareholders and dividend Strategy and prospects Current challenges Prospects Financial review Introduction Financial reporting controls Financial performance Cash flow Financial position Capital structure Intrinsic net asset value Cash distributions and dividends Financial returns Business review Strategic investments Mvelaserve Sustainability report Sustainability report Financials Corporate governance Independent auditors’ report Directors’ responsibility statement Statement of compliance by the company secretary Directors’ report Accounting policies Segmental information Financial statements Analysis of ordinary shareholders Principal subsidiaries Principal investments, associates and joint ventures Administration Information to shareholders Notice to shareholders Form of proxy Glossary Administration

Financials

Principal investments, associated companies and joint ventures

Details of investments, associated companies and joint ventures at 30 June 2009
	Effective interest		Sector		Nature of business
PRINCIPAL INVESTMENTS
Absa Group Limited⁵	2,23%		Financial services		Banking, insurance, financial and property products and services group listed on the JSE.
African Renaissance Holdings Limited²	2,9%		Investment		Investment holding company.
Group Five Limited²	10,7%		Construction		Construction group listed on the JSE.
Life Healthcare Group Holdings (Proprietary) Limited⁴	22,0%		Healthcare		Private healthcare service provider.
Rebhold Distribution Services (Proprietary) Limited²	40,0%		Distribution		Distributor of packaging and dry goods to the fast food, food services, hospitality and retail markets.
Steinhoff International Holdings Limited¹	0,6%		Furniture and household goods		Integrated lifestyle supplier that manufactures, sources, warehouses, distributes and retails household goods on a global basis, operating in approximately 16 countries in Europe, southern Africa and the Pacific, and is listed on the JSE.
Swissport South Africa (Proprietary) Limited⁵	39,2%		Transport		Logistics service provider operating at major airports in South Africa.
Unitrans Express Deliveries (Proprietary) Limited²	25,0%		Transport		Provider of courier and express delivery services. Part of the Steinhoff International Holdings Limited group.
Unitrans Fuel and Chemicals (Proprietary) Limited²	25,0%		Transport		Provider of transport and logistic services to the fuel and chemicals industries of Southern Africa. Part of the Steinhoff International Holdings Limited group.
Vox Telecom Limited³	12,3%		Telecoms, media and technology		Alternative telecoms group listed on the JSE AltX.
PRINCIPAL ASSOCIATED COMPANY
Avusa Limited¹	25,5%		Media and entertainment		A diversified media and entertainment company listed on the JSE.
Experience Delivery Company	48,0%		Consumer services		Provider of facilities management.
PRINCIPAL JOINT VENTURE
Al-Jaber Coin LLC³	49,0%		Consumer services		A provider of security services in the UAE.

¹Year ends 31 March 2009

²Year ends 30 June 2009

³Year ends 31 August 2009

⁴Year ends 30 September 2009

⁵Year ends 31 December 2009

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