Financial statements I Notes to the consolidated financial statements continued
16. Investments in associates and joint ventures continued
Share of profit of associates and joint ventures and impairments thereof
In millions of EUR20112010
Income associates 25 28
Income joint ventures 215 165
In the year APB (the IV of HEINEKEN and its partner Fraser and Neave) completed the sale of Kingway Brewery for SGD205 million (EUR116 million)
of which SGD72 million (EUR41 million) was recorded as income by APB. As HEINEKEN has a share of 45.95 per cent a capital gain of SGD33 million
(EUR19 million) is included in the share of profit of IV's.
Summary financial information for equity accounted joint ventures and associates
In the above table H EINEKEN represents its share of the aggregated amounts of assets, liabilities, revenues and expenses for its loint Ventures and
Associates for the year ended 31 December.
17. Other investments and receivables
In millions of EUR Note 2011 2010
Non-current other investments
Loans and advances to customers
Current other investments
Investments held for trading
Included in loans are loans to customers with a carrying amount of EUR120 million as at 31 December 2011 (2010: EUR166 million). Effective interest
rates range from 6 to 12 percent. EUR72 million (2010: EUR100 million) matures between one and five years and EUR48 million (2010: EUR66
million) after five years.
The indemnification receivable represents the receivable on FEMSA and Lewiston investments and is a mirroring of the corresponding indemnified
liabilities originating from the acquisition of the beer operations of FEMSA and Sona.
The other receivables mainly originate from the acquisition of the beer operations of FEMSA and represent a receivable on the Brazilian Authorities
on which interest is calculated in accordance with Brazilian legislation. Collection of this receivable is expected to be beyond a period of five years.
108 Heineken N.V. Annual Report 2011