NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
159
ANNUAL REPORT 2015
46.
SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES (CONT’D)
The subsidiaries are audited by Ernst & Young LLP, Singapore unless stated otherwise.
(1)
Audited by overseas affiliates of Ernst & Young LLP.
(2)
Audited by KPMG LLP, Singapore.
(3)
Audited by overseas affiliates of KPMG LLP.
(4)
Audited by PricewaterhouseCoopers LLP, Singapore.
(5)
Audited by overseas affiliates of PricewaterhouseCoopers LLP.
(6)
Audited by AT Konsortium.
(7)
Audited by Drs. R Sunaryono, MM CPA.
ß
Subsidiaries/Associates/Joint Ventures of a listed subsidiary.
Ø
These subsidiaries were voluntarily liquidated in 2015.
ØØ
Voluntary liquidation in progress and no audit is required for 2015.
+
The subsidiaries of the joint venture in the Philippines have ceased the mining and processing operations due to
depletion of mineral resources.
++
The company is currently dormant.
+++ These companies were incorporated in second half of 2015 and hence the accounts were not audited.
++++ Audit is not required for this dormant company.
Note:
(a)
This subsidiary was sold in 2015 (note 18).
(b)
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% (2014: 55%).
(c)
ARA Summit Development Fund I, L.P. targets investment opportunities primarily in Australia and South East Asia.
SRE Venture 1 Pte. Ltd. is currently the sole investor of this fund.
(d)
These are subsidiaries of ARA Summit Development Fund I, L.P..
(e)
The investment activities of SRE Asian Asset Income Fund is managed by SRE Capital Pte. Ltd..
(f)
This subsidiary was reclassified as held for sale as at 31 December 2014 (note 25(b)) and the sale was completed
in 2015.
(g)
ARA Asset Management Limited (“ARA”) is incorporated as an exempted company with limited liability in Bermuda.
The principal place of business is Singapore. ARA is listed on the main board of the Singapore Exchange Securities
Trading Limited.
(h)
ARA Harmony Fund III, L.P. holds a portfolio of income generating retail properties in Malaysia.
(i)
Greater Tokyo Office Fund (Jersey) L.P. focuses on acquiring office assets in the Greater Tokyo area, which may
include Tokyo, Kanagawa, Saitama and Chiba prefectures and selected regional cities outside of Greater Tokyo.