ESR IR 2021 - EN

62 STEP FORWARD Notes to Condensed Consolidated Financial Information 30 June 2021 11. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 30 June 31 December 2021 2020 (Unaudited) (Audited) US$’000 US$’000 Unquoted equity interests, at fair value (i) 661,622 678,864 Note: (i) The fair value of these investments is estimated based on the Group’s share of the net asset value of the investment funds and associates. In accordance with the exemption in IAS 28 Investments in associates , the Group has elected to measure its investments in associates and joint ventures at fair value through profit or loss in accordance with IFRS 9. This exemption is related to the fact that fair value measurement provides more useful information for users of the financial statements than application of the equity method. This is an exemption from the requirement to measure interests in associates using the equity method, rather than an exception to the scope of IAS 28 for the accounting for associates and a joint venture. Particulars of the material associates, joint ventures and investment funds are summarised below: Name Principal activity Country of incorporation/ registration Effective ownership interest 30 June 31 December 2021 2020 % % Jiangsu Yitian Warehousing Service Co., Ltd. Warehousing business China 16.25 16.25 Shanghai Fengyuan Logistic Co., Ltd. Warehousing business China 16.25 16.25 Taicang Mingzhan Logistics Company Limited Warehousing business China 16.25 16.25 Shanghai Yiyuan Equity Investment Fund Partnership (Limited Partnership) Investment holding China 9.99 9.99 Viper GK Asset holding Japan 47.37 47.37 ESR Japan Core Fund Limited Partnership Investment holding Singapore 24.40 24.40 Baraki 3 Pte. Ltd. Investment holding Singapore 9.88 9.88 Redwood Amagasaki Pte. Ltd. Investment holding Singapore 16.70 16.70 RW Chigasaki Pte. Ltd. Investment holding Singapore 20.10 20.10 RW Toda Pte. Ltd. Investment holding Singapore 20.10 20.10 RW Sachiura Pte. Ltd. Investment holding Singapore 7.14 7.14 RW HO A Pte. Ltd. Investment holding Singapore 14.30 14.30 RW Ukishima Pte. Ltd. Investment holding Singapore 14.30 14.30 ESR India Logistics Fund Pte. Ltd. Investment holding Singapore 50.00 50.00 Kendall Square Terra Professional Investment Type Private Placement Real Estate Investment Trust No. 1 Investment holding South Korea 9.40 9.40