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Equity accounted investments (Tables) | 12 Months Ended
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Jun. 30, 2018
Equity accounted investments |
Schedule of equity accounted investments |
|  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |
Amounts recognised in the statement of financial position: |  |  |  |  |
Investments in joint ventures and associates |  | 10 991 |  | 11 813 |
|  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |
Business segmentation |  |  |  |  |
 Mining |  | 1 |  | 1 |
 Energy |  | 9 667 |  | 8 603 |
 Base Chemicals |  | 1 164 |  | 3 038 |
 Performance Chemicals |  | 16 |  | 14 |
 Group Functions |  | 143 |  | 157 |
Total carrying value of equity accounted investments |  | 10 991 |  | 11 813 |
|  | 2018 |  | 2017 |  | 2016 |
for the year ended 30 June |  | Rm |  | Rm |  | Rm |
Amounts recognised in the income statement: |  |  |  |  |  |  |
Share of profits of equity accounted investments, net of tax |  | 1 443 |  | 1 071 |  | 509 |
share of profits |  | 1 454 |  | 1 085 |  | 522 |
remeasurement items |  | (11 | ) | (14 | ) | (13 | )
Amounts recognised in the statement of cash flows: |  |  |  |  |  |  |
Dividends received from equity accounted investments |  | 1 702 |  | 1 539 |  | 887 |
Schedule of interest in equity accounted investments and total carrying values |
|  | Country of |  |  |  | Interest |  | 2018 |  | 2017 |
Name |  | incorporation |  | Nature of activities |  | % |  | Rm |  | Rm |
Joint ventures |  |  |  |  |  |  |  |  |  |  |
ORYX GTL Limited |  | Qatar |  | GTL plant |  | 49 |  | 8 179 |  | 7 480 |
Sasol Huntsman GmbH & co KG |  | Germany |  | Manufacturing of chemical products |  | 50 |  | 893 |  | 925 |
Petronas Chemicals LDPE Sdn Bhd* |  | Malaysia |  | Manufacturing and marketing of low-density polyethylene pellets |  | — |  | — |  | 566 |
Sasol Dyno Nobel (Pty) Ltd |  | South Africa |  | Manufacturing and distribution of explosives |  | 50 |  | 271 |  | 246 |
Sasol Chevron Holdings Limited |  | Bermuda |  | Marketing of Escravos GTL products |  | 50 |  | 311 |  | 255 |
Associates |  |  |  |  |  |  |  |  |  |  |
Petronas Chemicals Olefins Sdn Bhd* |  | Malaysia |  | Ethane and propane gas cracker |  | — |  | — |  | 1 301 |
Escravos GTL (EGTL)** |  | Nigeria |  | GTL plant |  | 10 |  | 1 027 |  | 757 |
Other equity accounted investments |  |  |  |  |  | Various |  | 310 |  | 283 |
Carrying value of investments |  |  |  |  |  |  |  | 10 991 |  | 11 813 |
*On 14 March 2018 the sale of our investment in Petronas Chemicals LDPE Sdn Bhd and Petronas Chemicals Olefins Sdn Bhd was concluded. This resulted in a net profit on disposal of R370 million. The foreign currency translations reserve of R494 million relating to the equity accounted investments was reclassified from equity to profit and loss on the same date. **Although the group holds less than 20% of the voting power of EGTL, the group has significant influence with regards to the management and technical support to the plant.
Summarised financial information for the group's share of equity accounted investments which are not material | Summarised financial information for the group’s share of equity accounted investments which are not material***
|  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |
Operating profit |  | 419 |  | 449 |
Profit before tax |  | 427 |  | 464 |
Taxation |  | (152 | ) | (232 | )
Profit and total comprehensive income for the year |  | 275 |  | 232 |
***The financial information provided represents the group’s share of the results of the equity accounted investments.
Schedule of capital commitments relating to equity accounted investments |
|  | 2018 |  | 2017 |
Capital commitments relating to equity accounted investments |  | Rm |  | Rm |
Capital commitments, excluding capitalised interest, include all projects for which specific board approval has been obtained up to the reporting date. Projects still under investigation for which specific board approvals have not yet been obtained are excluded from the following: |  |  |  |  |
Authorised and contracted for |  | 536 |  | 292 |
Authorised but not yet contracted for |  | 623 |  | 573 |
Less: expenditure to the end of year |  | (266 | ) | (281 | )
|  | 893 |  | 584 |
Summarised financial information for the group's material equity accounted investments |
|  | Joint venture |
|  | ORYX GTL Limited |
|  | 2018 |  | 2017 |
for the year ended 30 June |  | Rm |  | Rm |
Summarised statement of financial position |  |  |  |  |
Non-current assets |  | 12 202 |  | 12 642 |
Current assets |  | 6 640 |  | 4 288 |
Total assets |  | 18 842 |  | 16 930 |
Other non-current liabilities |  | 360 |  | 359 |
Deferred tax liability |  | 9 |  | 41 |
Other current liabilities |  | 1 036 |  | 1 171 |
Tax payable |  | 436 |  | 25 |
Total liabilities |  | 1 841 |  | 1 596 |
Net assets |  | 17 001 |  | 15 334 |
Summarised income statement |  |  |  |  |
Profit before tax |  | 3 666 |  | 1 782 |
Taxation |  | (628 | ) | 1 |
Profit and total comprehensive income for the year |  | 3 038 |  | 1 783 |
The group’s share of profits of equity accounted investment |  | 1 168 |  | 839 |
49% share of profit before tax |  | 1 796 |  | 873 |
Taxation* |  | (628 | ) | (34 | )
Reconciliation of summarised financial information |  |  |  |  |
Net assets at the beginning of the year |  | 15 334 |  | 17 596 |
Profit before tax for the year |  | 3 666 |  | 1 782 |
Taxation* |  | (628 | ) | 1 |
Foreign exchange differences |  | 839 |  | (2 017 | )
Dividends paid |  | (2 210 | ) | (2 028 | )
Net assets at the end of the year |  | 17 001 |  | 15 334 |
Carrying value of equity accounted investment |  | 8 179 |  | 7 480 |
49% share of net assets, excluding taxation |  | 8 331 |  | 7 546 |
100% share of tax liabilities* |  | (152 | ) | (66 | )
| * |  | The group participates in the joint venture’s net assets (before tax) and pre-tax profits at 49%. With effect from 29 April 2017, as a result of change in tax regulations in Qatar, tax is levied only on Sasol’s share of profits and as a result any tax liability included in ORYX GTL’s results is included at 100% in our equity-accounted share of the joint venture’s financial results.

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