Notes to the consolidated financial statements continued
16. Investments in associates and joint ventures continued
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. The revenue and expenses of loint Ventures in 2012 contain 10.5 months of APIPL/APB and 1.5 months
of Guinness Anchor Berhad and Thai Asia Pacific Brewery. Both Guinness Anchor Berhad and Thai Asia Pacific Brewery are included in the joint ventures
2012 ending balances.
17. Other investments and receivables
In millions of EUR
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 EUR108 million as at 31 December 2012 (2011EUR120 million). Effective interest rates range
from 6 to 12 percent. EUR60 million (2011: EUR72 million) matures between one and five years and EUR48 million (2011: EUR48 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.
The main available-for-sale investments are Caribbean Development Company Ltd, S.A. Des Brasseries du Cameroun, Consorcio Cervecero de Nicaragua
S.A, Desnoes Geddes Ltd. and Sabeco Ltd. As far as these investments are listed they are measured at their quoted market price. For others the value
in use or multiples are used. Debt securities (which are interest-bearing) with a carrying amount of EUR21 million (2011: EUR20 million) are included in
Sensitivity analysis - equity price risk
An amount of EUR193 million as at 31 December 2012 (2011: EUR95 million) of available-for-sale investments and investments held for trading is listed
on stock exchanges. An impact of 1 per cent increase or decrease in the share price at the reporting date would not result in a material impact on
a consolidated Group level.
Heineken N.V. Annual Report 2012