130 for the year ended 30 June 4. Investments in securities Available-for-sale investments Unlisted investments at fair value 537 368 at cost 817 Investments carried at fair value  (cost in 2001) Balance at beginning of year 368 817 265 Acquisition of businesses (refer note 46) 50 — 3 Investments purchased/(disposed) 161 (190) 546 Revaluation to fair value — (2) — Transfer to property, plant and equipment (refer note 1) — (182) — Transfer to investments in associates (18) (92) — Translation of foreign entities (refer note 38) (24) 1 7 Balance at end of year 537 368 817 Investments held-to-maturity 153 112 — Investments carried at amortised cost Balance at beginning of year 112 — — Investments purchased 41 112 — Balance at end of year 153 112 — Net investments in securities 690 480 817 As the group has more than five investments, a register is maintained in terms of paragraph 27 of Schedule 4 of the South African Companies Act. The register is available for inspection at the registered office of Sasol Limited. For further details of investments in securities, refer page 165. 5. Investments in associates Investment at cost 211 258 10 Loans to associates 2 — 1 Share of post-acquisition reserves 57 75 2 270 333 28 For further details of investments in associates, refer page 166. 6. Retirement benefit assets Retirement benefit assets 451 569 445 Short-term portion (refer note 12) — (72) — 451 497 445 2003 2002 2001 Restated Restated Rm Rm Rm For further details of retirement benefit assets, refer page 174. notes to the financial statements (continued) sasol limited group sasol limited group