10. Investments in associates

Investments in associates as at 31 December 2013, 2012 and 2011 were as follows:


Associate Main activity Voting share capital, % 2013 Carrying amount 2012 Carrying amount 2011 Carrying amount
OJSC KGTS Communication services 37.29 383 234 206
CJSC Samara Telecom Communication services 27.78 163 159 147
OJSC WestBalt Telecom Communication services 38.00 131 131 127
CJSC IKC Express Communication services 37.90 83 81 78
OJSC Vostoktelecom Communication services 25.00 81 77 75
Other Various   77 93 140
Total investments in associates 918775773

Summarized financial information as at 31 December 2013, 2012 and 2013 and for the years then ended of the associates is presented below:


Aggregate amounts 2013 2012 2011
Assets 3,143 2,833 2,458
Liabilities 407 455 362
Revenue 1,968 1,758 1,556
Net income 195 184 191

In 2013 the Group received dividends from its investments in equity accounted investees in the amount of 8 (2012: 5, 2011: 4).

All associated companies are incorporated in Russia.

There are no contingent liabilities relating to the Group's interest in the associates.

Summarized financial information for substantial associates as at 31 December 2013, 2012 and 2013 and for the years then ended is presented below:


AssociateYear Non–current assets Current assets Non–current liabilities Current liabilities Revenue Net income/(loss)
OJSC KGTS2013 966 158 11 86 742 104
 2012 924 90 151 86 714 113
 2011 807 95 122 96 661 122
CJSC Samara Telecom2013 310 396 21 100 201 15
 2012 351 265 21 32 165 25
 2011 321 257 15 27 254 27
OJSC WestBalt Telecom2013 128 253 36 150 (1)
 2012 140 241 35 214 11
 2011 128 243 36 221 25
CJSC IKC Express2013 13 213 8 72 6
 2012 17 205 6 76 6
 2011 19 195 2 51 (7)
OJSC Vostoktelecom2013 102 287 5 59 595 31
 2012 357 15 5 53 587 32
 2011 324 16 4 55 365 27

Reconciliation of the summarised financial information presented to the carrying amount of the interest in associates:


Summarised financial information OJSC KGTS CJSC Samara Telecom OJSC WestBalt Telecom CJSC IKC Express OJSC Vostoktelecom
Net assets at December 31, 2013 1,027 585 345 218 325
Interest in associates, % 37,29 27,78 38 37,9 25
Carrying value at December 31, 2013 383 163 131 83 81