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Notes to the Financial Statements (cont’d)<br />
For the financial year ended 31 December 2011<br />
18. Investment in subsidiaries (cont’d)<br />
Details of subsidiaries of the Company and the Group are as follows:<br />
Name of subsidiaries<br />
Country of<br />
incorporation Principal activities<br />
Proportion of<br />
ownership interest<br />
2011 2010<br />
Held by the Company: % %<br />
Malaysia Smelting Corporation<br />
(Warehousing) Sdn. Bhd.*<br />
Malaysia Tin warehousing 100 100<br />
Rahman Hydraulic Tin Sdn. Bhd. * Malaysia Tin mining 100 100<br />
MSC Properties Sdn. Bhd.* Malaysia Property holding and rental 100 100<br />
Bemban Corporation Ltd.* British Virgin<br />
Islands<br />
Investment holding 100 100<br />
PT MSC Indonesia** Indonesia Tin exploration and mining 100 100<br />
Australia Oriental Minerals NL<br />
(“AOM”)**+ (Note 18(a))<br />
Straits Resource Management Private<br />
Limited (“SRM”) *<br />
Held through subsidiaries:<br />
Australia Tin and base metals<br />
exploration<br />
– 77<br />
Singapore Investment holding 100 100<br />
Kajuara Mining Corporation Pty. Ltd. ** Australia Investment holding 100# 100#<br />
PT Koba Tin ** Indonesia Tin mining and smelting 75# 75#<br />
PT Bangka Resources*** Indonesia Dormant 100# 100#<br />
PT Asiatic Coal Nusantara Indonesia Coal mining – 53#<br />
(“PT ACN”) **+ (Note 18(a))<br />
PT SRM Indonesia (“PT SRM”)*** Indonesia Providing tin exploration,<br />
management and consulting<br />
services<br />
Held through the Company and a<br />
subsidiary:<br />
Asiatic Coal Private Limited (“ACPL”)**<br />
+ (Note 18(a))<br />
99# 99#<br />
Singapore Investment holding – 53#<br />
* Audited by Ernst & Young, Malaysia<br />
** Audited by member firm of Ernst & Young Global in the respective countries<br />
*** Audited by firms of auditors other than Ernst & Young<br />
# Indirect interest<br />
+ Classified as non-current assets classified as held for sale (Note 22)<br />
MALAYSIA SMELTING CORPORATION (43072-A) • ANNUAL REPORT 2011 121