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29 URBAN DEVELOPMENT CORPORATION Notes to the Non-Consolidated Financial Statements (Continued) Year ended March 31, 2010

14.

Revenue reserve Accounted for in the books of: The corporation comprising: Increase in fair value of investment properties Net foreign exchange gains Other profits/(losses), net

2010 $’000

2009* $’000

13,578,925 408,273 7,018,098

8,902,167 385,515 7,610,252

21,005,296

16,897,934

1,261

1,261

21,006,557

16,899,195

2010 $’000

2009 $’000

93,674 199,250

93,674 199,250

292,924 (292,924)

292,924 (292,924)

-

-

Its associates: Impairment on advances

15.

Advances to the Government of Jamaica This comprises:

Advances to the Government of Jamaica (a) Real estate receivables (b) Less: Impairment loss provision

The above amounts are on account of distributions to the Government and arose from: (a) Hotel divestment proceeds transferred to the Government of Jamaica. (b) Amounts receivable from the sale of real estate to the Government of Jamaica including interest accrued of $57 million. 16.

Provision for future infrastructure cost on land sold 2010 $’000 At beginning of year Reduction in provision At end of year

(

2009 $’000

212,100 844)

228,350 ( 16,250)

211,256

212,100

Annreport09 10