NOTES TO THE FINANCIAL STATEMENTS - NOTE 9


 

    Company  
    2014
Rm
  2013
Rm
 
9. Investment in subsidiairies        
  Shares at cost 384   384  
  Indebtedness 1 953   1 953  
    2 337   2 337  
  The details of subsidiaries for 2014 and 2013 are as follows:

Name Main business Country of incorporation   Issued/stated
share capital
R
  Interest
held
%
  Investment
at cost
Rm
  Indebtedness

Rm
 
Directly held                      
Escap SOC Limited Insurance South Africa   379 500 000   100   380    
Eskom Development Foundation NPC Corporate social investment South Africa     100      
Eskom Enterprises SOC Limited Non-regulated electricity supply industry activities in South Africa and electricity supply and related services outside South Africa South Africa   99 000   100   1   1 9532  
                       
Eskom Finance Company SOC Limited Finance (employee housing loans) South Africa   4 000   100   1    
Natal Navigation Collieries and Estate Company SOC Limited Property holding South Africa   771 425   100      
PN Energy Services SOC Limited3 Not trading South Africa   1 500 000   100   4    
                384   1 953  
Indirectly held                      
Eskom Energie Manantali s.a4,5,6 Electricity supply Mali   1 000   100          
Eskom Uganda Limited4,5 Operations management Uganda   100   100          
Golang Coal SOC Limited Coal exports South Africa   1 000   67          
Nqaba Finance 1 (RF) Limited7 Residential backed mortgage securities South Africa   100   100          
Pebble Bed Modular Reactor SOC Limited Not trading – care and maintenance South Africa   100   100          
Roshcon SOC Limited8 Construction and abnormal load transportation South Africa   1   100          
Rosherville Properties SOC Limited Properties South Africa   1   100          
Rotek Industries SOC Limited Maintenance and services South Africa   4 000   100          
South Dunes Coal Terminal SOC Limited5 Coal exports South Africa   4 000   50          

The following subsidiaries are dormant:

Eskom Enterprises Global West Africa
Nempskom Communications Limited (process of liquidation)
Technology Services International SOC Limited (process of being deregistered)

There has not been any change in the control assessment and all the previous subsidiaries continue to be accounted for as subsidiaries.

The group does not have any subsidiaries with a material non-controlling interest.

There is only one significant restriction relating to the cash held in Pebble Bed Modular Reactor SOC Limited (PBMR). Refer to note 20 for details regarding this restriction.



 
1. Nominal.
2. The equity loan of Eskom Enterprises is interest free.
3. PN Energy Services SOC Limited did not trade during the 2011 to 2014 financial years.
4. Issued/stated capital in foreign currency.
5. Year end is 31 December.
6. Classified as non-current assets held-for-sale in 2014. Applicable comparative figures have been restated for 2013. Refer to note 21.
7. Nqaba is a securitisation vehicle.
8. The subsidiaries of Roshcon SOC Limited have not been disclosed. They are all dormant and in the process of being wound up.