Notes to the Group financial statements

for the year ended 30 June

  R million   2014   2013  
  Cape Town International Convention Centre Company Proprietary Limited (CTICC)     
  Balance at beginning and end of year   48   48  
  Directors' valuation   48   48  
  The 24.8% (2013: 24.8%) investment in the unlisted CTICC was part of the Group's bid commitments in the Western Cape. The investment was stated at fair value based on the latest available statutory financial statements, prepared on a going concern basis and in accordance with IFRS, of the CTICC being 30 June 2013. The Group has no significant influence over the Company, therefore the investment was designated as available-for-sale.  

The available-for-sale asset has been classified as level 3.