notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
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CWT Limited<br />
82<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
YEAR ENDED 31 DECEMBER 2011<br />
6 SUBSIDIARIES<br />
Company<br />
Note 2011 2010<br />
$’000 $’000<br />
Unquoted equity shares, at cost 132,487 109,282<br />
Quasi-equity loans (a) 192,175 93,307<br />
324,662 202,589<br />
Less: Accumulated impairment losses<br />
At 1 January / 31 December (13,772) (13,772)<br />
Carrying amount 310,890 188,817<br />
(a) Quasi-equity loans <strong>to</strong> subsidiaries are interest-free and form part of <strong>the</strong> Company’s net investments in subsidiaries.<br />
The loans are unsecured and settlement is nei<strong>the</strong>r planned nor likely <strong>to</strong> occur in <strong>the</strong> foreseeable future.<br />
(b) Details of <strong>the</strong> significant subsidiaries are as follows:<br />
Name of subsidiaries<br />
Country of<br />
incorporation/<br />
business<br />
Effective<br />
interest held<br />
by <strong>the</strong> Group<br />
2011 2010<br />
% %<br />
1 Jurong Districentre Pte Ltd Singapore 70.0 70.0<br />
1 CWT International Pte Ltd Singapore 100.0 100.0<br />
1 CWT Engineering Pte Ltd Singapore 100.0 100.0<br />
1 CWT Logistics Pte Ltd Singapore 100.0 100.0<br />
1 CWT Globelink Pte Ltd Singapore 100.0 100.0<br />
1 CWT Commodities Pte Ltd Singapore 100.0 100.0<br />
1 OCWS Logistics Pte Ltd Singapore 100.0 100.0<br />
1 CWT Logistics (S) Pte Ltd<br />
(Formerly known as Trident Districentre Pte Ltd)<br />
Singapore 100.0 100.0<br />
1 Indeco Engineers (Pte) Ltd Singapore 100.0 100.0<br />
1 CWT Commodities (Metals) Pte Ltd Singapore 100.0 100.0
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