NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
47 SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES (CONT’D)
ØØØ
Subsidiaries entered into voluntary liquidation after financial year end and no audit is required for 2014.
+ These companies were incorporated in the last quarter of 2014 and hence the accounts were not audited.
++ The subsidiaries of the joint venture in Philippines have ceased the mining and processing operations due to
depletion of mineral resources.
+++ The company is currently dormant.
Note:
(a)
Malaysia Smelting Corporation Berhad (“MSC”) is listed on the Main Market of the Bursa Malaysia Securities Berhad
and is secondarily listed on the Singapore Exchange Securities Trading Limited. The Company’s combined interest
in MSC held jointly with other subsidiaries and an associate is 55% (2013: 55%) .
(b)
ARA Asset Management Limited (“ARA”) is incorporated as an exempted company with limited liability in Bermuda.
ARA is listed on the main board of the Singapore Exchange Securities Trading Limited.
(c)
These subsidiaries were reclassified as held for sale as at 31 December 2013 (note 24(c)).
(d)
The Group entered into a Share Transfer Agreement in relation to the disposal of all the shares of the entity. This
subsidiary was reclassified as held for sale as at 31 December 2014 (note 24(b)).
(e)
A Cayman Islands exempted limited partnership acting through its general partner. SRE Venture 1 Pte. Ltd. is currently
the sole investor of this fund. As of 31 December 2014, the fund is still evaluting various investment projects.
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THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
