FINANCIAL STATEMENTS - Mewah Group

ANNUAL REPORT 2012NOTES TOTHE FINANCIAL STATEMENTSFor the financial year ended 31 December 201220. INVESTMENT IN ASSOCIATED COMPANY AND SUBSIDIARIES(a) Investment in associated companyEquity investment at costGroup2012 2011US$’000US$’000Beginning of financial year 204 86Share of profits 60 123Currency translation differences 7 (5)End of financial year 271 204The summarised financial information of associated company, not adjusted for the proportion ownership interest held by the Group, isas follows:Group2012 2011US$’000US$’000Assets 1,107 826Liabilities 553 416Revenue 2,834 2,744Net profit 122 251Details of the associated company are included in Note 38.(b) Investment in subsidiariesEquity investments at costCompany2012 2011US$’000US$’000Beginning of financial year 820 *-Additions - 820End of financial year 820 820* As at 31 December 2011, the nominal value of investment in subsidiaries held directly by the Company was US$104.In 2012, Semenyih Inc. and Mewah (HK) Limited were incorporated on 3 May 2012 and 21 May 2012 respectively. Both subsidiariesare wholly owned subsidiaries of the Company. The cost of investment in these newly incorporated subsidiaries is less than US$1,000.Details of the subsidiaries are included in Note 38.79