Page 77 - Stellar IAR2015

9. LOANS TO CONSOLIDATED SUBSIDIARIESR’000 LoansReconciliation of loans to Consolidated Subsidiaries - 2015ConvergeNet Management Services (Pty) LtdConvergeNet SA (Pty) Ltd (loan assigned^)Chrystalpine Investments 9 (Pty) Ltd GroupNavix Distribution (Pty) LtdNorthbound Communication Solutions (Pty) LtdSimat Management Company SA (Pty) LtdStructured Connectivity Solutions (Pty) LtdOpening advanced / balance (repaid) 3 213 80 756 - 1 731 674 (674) 64 - - - 24 12 500 (500) 4 475 81 325Impairment- (1 731) - (64) - (36) - (1 831)Closing balance 83 969 - - - - - - 83 969^As part of the disposal of the Chrystalpine Investments 9 (Pty) Ltd Group, a loan owing by ConvergeNet SA (Pty) Ltd to the ChrystalpineReconciliation of loans to Consolidated Subsidiaries - 2014ConvergeNet Management Services (Pty) Ltd ConvergeNet SA (Pty) LtdChrystalpine Investments 9 (Pty) Ltd Group Navix Distribution (Pty) LtdSimat Management Company SA (Pty) Ltd Structured Connectivity Solutions (Pty) LtdOpening balance - 684 487 499 - 10 088 11 758Loansadvanced / (repaid) 3 213 (684) 187 (435) 24 1 479 3 784Impairment- - - - -(11 067)(11 067)Closing balance 3 213 - 674 64 24 500 4 4759 (Pty) Ltd Group was assigned to the Company. The loan was subsequently impaired and written o upon disposal of ConvergeNet SA (Pty) Ltd.STELLAR CAPITAL PARTNERS | 73These loans are unsecured, do not bear interest and are repayable as and when funds are available, at the discretion of the Company. The carrying amount of the loan to ConvergeNet Management Services (Pty) Ltd is considered to approximate fair value as the loan can be called upon at any time given that su cient cash is held in the call account of CMS.