{"id":2541,"date":"2021-05-21T07:57:17","date_gmt":"2021-05-21T05:57:17","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=2541"},"modified":"2021-05-25T14:05:00","modified_gmt":"2021-05-25T12:05:00","slug":"note-16","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-16\/","title":{"rendered":"Note 16 – Events after balance-sheet date"},"content":{"rendered":"
\n\t\t\t\t\n\t\t\t\t\t

Note 16<\/h4>\n\t\t\t\t\t

Events after balance-sheet date<\/h3>\n\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/a>
  1. Accounting principles<\/a><\/li>\n
  2. Segment Information<\/a><\/li>\n
  3. Loans and Investments<\/a><\/li>\n
  4. Exited Investments<\/a><\/li>\n
  5. Payroll Expenses<\/a><\/li>\n
  6. Other Operating Expenses<\/a><\/li>\n
  7. Net financial income\/expense<\/a><\/li>\n
  8. Fixed Assets<\/a><\/li>\n
  9. Other Receivables<\/a><\/li>\n
  10. Tax<\/a><\/li>\n
  11. Bank Deposits, Cash and Cash Equivalents<\/a><\/li>\n
  12. Capital Movements<\/a><\/li>\n
  13. Unused Resources<\/a><\/li>\n
  14. Information on financial market risk and the use of financial instruments<\/a><\/li>\n
  15. Current liabilities and guarantees<\/a><\/li>\n
  16. Events after balance-sheet date<\/a><\/li>\n<\/ol><\/div><\/div><\/div><\/div>\n\n\n

    Sale of SN Power<\/h3>\n\n\n\n

    The sale of SN Power was published in October 2020. Owing to lack of approval from the Filipino competition authorities, the sale was first formally completed on 29 January 2021. The estimated gain on the sale amounts to approximately NOK 6 000 million, and will be recorded in 2021.<\/p>\n\n\n\n

    Military coup in Myanmar<\/h3>\n\n\n\n

    As per 31.12.202, Norfund had six ongoing projects in Myanmar with a book value of NOK 535 million. As a consequence of the military coup and the ongoing political destabilisation of the country, the risk of a permanent fall in the value of the investments is increasing considerably. The situation is still very unclear, and it is too early to estimate any long-term consequences. Therefore no general write-down has been made on the investments as a consequence of this event. Norfund is monitoring the situation closely.<\/p>\n\n\n\n


    Global pandemic<\/h3>\n\n\n\n

    There is still great uncertainty associated with the effects of COVID-19. Write-downs were made on a number of investments as a consequence of the long-term effects of the pandemic, and the uncertainty is expected to continue having an impact through 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Sale of SN Power The sale of SN Power was published in October 2020. Owing to lack of approval from the Filipino competition authorities, the sale was first formally completed on 29 January 2021. The estimated gain on the sale amounts to approximately NOK 6 000 million, and will be recorded in 2021. Military coup […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":2101,"menu_order":15,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Notes","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nNote 16 - Events after balance-sheet date | Annual report 2020<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-16\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Note 16 - Events after balance-sheet date | Annual report 2020\" \/>\n<meta property=\"og:description\" content=\"Sale of SN Power The sale of SN Power was published in October 2020. 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