2015  2014  
      R000  R000  
          

4

INVESTMENTS

    
   Available-for-sale listed investments     
   Listed at market value     
   balance at beginning of year 377 988  178 430  
   purchases at cost –  161 926  
   impairment of carrying value below cost (114 258) (26 327)#
   fair value adjustment at year-end (29 758) 63 959#
   Balance at end of year (refer below) 233 972  377 988  
  

Made up as follows:

    
   Listed investments at cost 179 182  293 440  
   Cumulative fair value adjustment included in other reserves (refer note 13) 54 790  84 548  
   As above 233 972  377 988  
  
# Fair value adjustments have been restated to show impairment charges separately.