17. EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS
(i) Equity investments
|
|
2016 |
2017 |
|
Current: |
|
|
|
Non-publicly traded investments |
|
|
|
Private equity funds classified at FVTOCI |
15 |
14 |
|
|
|
|
|
|
15 |
14 |
|
|
|
|
|
Non-current: |
|
|
|
Publicly traded investments |
|
|
|
Equity investment in MEG Energy Corporation (“MEG”) classified at FVTOCI (1) |
1,356 |
766 |
|
Other equity investment classified at FVTPL |
35 |
15 |
|
|
1,391 |
781 |
|
Non-publicly traded investments |
|
|
|
Private equity fund in Kerogen Energy Fund classified at FVTOCI (2) |
2,875 |
2,759 |
|
|
|
|
|
|
4,266 |
3,540 |
(1) MEG is principally engaged in the exploitation and production of oil sands. The investment in MEG is designated by the Group as at FVTOCI. As at December 31, 2017, the investment in MEG was stated at the quoted market price.
(2) Kerogen Energy Fund is principally engaged in the investment in the oil and gas industry. The equity investment in Kerogen Energy Fund is designated by the Group as at FVTOCI. The cost of this non-publicly traded equity investment represents an appropriate estimate of its fair value as at January 1, 2017 and December 31, 2017, as sufficient information is not available recently to measure its fair value.
17. EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS (Continued)
(ii) Other financial assets
|
|
2016 |
2017 |
|||
|
Current: |
|
|
|||
|
Non-publicly traded investments classified at FVTPL: |
|
|
|||
|
Corporate wealth management products (1) |
46,958 |
66,229 |
|||
|
Money market funds (2) |
5,931 |
8,115 |
|||
|
|
|
|
|||
|
|
52,889 |
74,344 |
(1) The corporate wealth management products will mature from January 8, 2018 to November 6, 2018 (2016: January 10, 2017 to December 5, 2017).
(2) The money market funds can be redeemed at any time.
The gains of the Group's other financial assets recognized in the profit or loss for the year was RMB2,409 million (2016: RMB2,774 million, 2015: RMB2,398 million).
During the year, the fair value changes on the Group's equity investments recognized directly in other comprehensive expense amounted to RMB542 million (2016: RMB461 million, 2015: RMB1,573 million).
None of the equity investments and other financial assets above is past due or impaired.