| 40 Group interest in subsidiaries and associates |
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Set out below is a list of the significant subsidiaries and associate of the group at 31 March 2017. Unless otherwise stated, the entities as listed below have share capital consisting solely of ordinary shares, which are held directly by the group and the proportion of ownership interest held equals to the voting rights held by the group.
Country of incorporation: RSA - Republic of South Africa |
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Issued
share
capital |
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Interest in
issued
ordinary
share capital |
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Ownership
interest
held by
non-controlling
interest |
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Issued
share
capital |
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Interest in
issued
ordinary
share capital |
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Ownership
interest
held by
non-controlling
interest |
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2017
R |
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2017
% |
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2017
% |
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2016
R |
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2016
% |
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2016
% |
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| Business Connexion |
RSA |
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2 280 500 |
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100 |
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– |
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2 280 500 |
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100 |
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– |
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| Trudon (Pty) Ltd |
RSA |
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100 000 |
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64.9 |
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35.1 |
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100 000 |
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64.9 |
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35.1 |
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| Rossal No 65 (Pty) Ltd |
RSA |
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100 |
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100 |
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– |
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100 |
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100 |
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– |
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| Acajou Investments (Pty) Ltd |
RSA |
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100 |
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100 |
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– |
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100 |
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100 |
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– |
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| Intekom (Pty) Ltd |
RSA |
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10 001 000 |
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100 |
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– |
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10 001 000 |
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100 |
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– |
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| Q-Trunk (Pty) Ltd* |
RSA |
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10 001 000 |
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100 |
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– |
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10 001 000 |
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100 |
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– |
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| Swiftnet (Pty) Ltd |
RSA |
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5 000 000 |
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100 |
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– |
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5 000 000 |
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100 |
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– |
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| Number Portability company |
RSA |
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100 |
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20 |
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– |
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100 |
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20 |
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– |
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The total non-controlling interest for the period is R337 million (2016: R390 million), which relates to Trudon and Business Connexion and is not considered material to the group.
The group's interest in the Number Portability company is not regarded as individually material. The equity method is used to account for the financial information of the associate. The investment is recorded at cost.
| Interest in operating profits from subsidiaries and associate |
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Revenue |
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EBITDA |
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EBIT |
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Net profit/
(loss) |
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Rm |
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Rm |
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Rm |
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Rm |
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| 2017 |
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| Business Connexion |
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13 977 |
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2 118 |
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1 785 |
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1 065 |
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| Trudon (Pty) Ltd |
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987 |
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216 |
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221 |
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114 |
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| Swiftnet (Pty) Ltd |
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184 |
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53 |
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30 |
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21 |
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| Rossal No 65 (Pty) Ltd |
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– |
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– |
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– |
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– |
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| Acajou Investments (Pty) Ltd |
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– |
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– |
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– |
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– |
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| Intekom (Pty) Ltd |
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– |
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– |
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– |
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– |
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| Telkom Foundation* |
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– |
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(1) |
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(1) |
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(1) |
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| 2016 |
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| Business Connexion** |
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4 810 |
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353 |
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213 |
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132 |
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| Trudon (Pty) Ltd** |
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1 048 |
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360 |
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362 |
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235 |
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| Swiftnet (Pty) Ltd |
|
158 |
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47 |
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25 |
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20 |
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| Rossal No 65 (Pty) Ltd |
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– |
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– |
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– |
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2 |
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| Acajou Investments (Pty) Ltd |
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– |
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– |
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– |
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(2) |
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| Intekom (Pty) Ltd |
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– |
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22 |
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22 |
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16 |
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| Telkom Foundation* |
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– |
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(3) |
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(3) |
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(3) |
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None of the group's equity-accounted investees are publicly listed entities and consequently they do not have published price quotations.
There are no significant restrictions on the ability of the associate to transfer funds to the group in the form of cash dividends, or to repay loans or advances made by the group.
| * |
Non-profit making trust. |
| ** |
Restated |