Annual Report 2019

233 ANNUAL REPORT 2019 45. PARTICULARS OF PRINCIPAL ASSOCIATES Name of associate Place of incorporation/ registration and operation Proportion of effective ownership interest indirectly held by the Company Principal activities 2019 2018 % % Asia Airfreight Terminal Company Limited Hong Kong 20.00 20.00 Airfreight services China Nanshan Development (Group) Incorporation (Note (a)) PRC 37.01 37.01 Investment holding Chiwan Container Terminal Co., Ltd. (Note (a)) PRC 14.16 14.16 Ports and container terminal business Chu Kong River Trade Terminal Co., Limited British Virgin Islands 20.00 20.00 Provision of shuttle-barge ports services Dalian Port (PDA) Company Limited (shares listed on the HKSE and the Shanghai Stock Exchange) (Note (a)) PRC 21.05 21.05 Provision of terminal business and logistics services Modern Terminals Limited Hong Kong 27.01 27.01 Provision of container terminal services and warehouse services Port de Djibouti S.A. Republic of Djibouti 23.50 23.50 Operations of seaports and terminals and port related business in Djibouti Shanghai International Port (Group) Co., Ltd. (A shares listed on the Shanghai Stock Exchange) (Note (a)) PRC 26.77 26.77 Ports and container terminal business and related services