perspective perspective - ChartNexus

134
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
13 INVESTMENTS IN SUBSIDIARY COMPANIES
Company
2005 2004
RM’000 RM’000
Unquoted shares
- At cost 17,650 12,500
- At Directors’ valuation 584,541
–––––––––––––––––––
584,541
–––––––––––––––––––
602,191 597,041
================= =================
The Company’s investments in subsidiary companies are stated at valuation based on the net tangible assets value of the
subsidiary companies as at 31 December 2001.
Details of the subsidiary companies, all of which were incorporated in Malaysia, are as follows:
Group’s effective interest
Name of company Principal activities 2005 2004
% %
@ Seri Alam Properties Sdn Bhd Property development 100 100
* UM Leisure Sdn Bhd General trading 100 100
UM Land Assets Sdn Bhd Property investment 100 100
UM Land Bena Sdn Bhd Property development
and related activities
100 100
Country Equity Sdn Bhd Investment holding 100 100
* UM Development Sdn Bhd General trading 100 100
UM Residences Sdn Bhd Development of serviced
apartments
100 100
Suasana Sentral Two Sdn Bhd Property development
and related activities
70 70
Dynasty View Sdn Bhd Property development
and related activities
100 100
* Alpine Return Sdn Bhd Property development
and related activities
100 100
Subsidiary companies of Seri Alam Properties Sdn Bhd
* PMS Services Sdn Bhd Project management 100 100
* Seri Alam Hotel Resort Sdn Bhd General trading 100 100
Seri Alam Leisure Sdn Bhd Investment holding 100 100
Subsidiary company of Seri Alam Leisure Sdn Bhd
Seri Alam Golf & Equestrian Club Operation of a recreational 100 100
Sdn Bhd club and related activities
Subsidiary company of Country Equity Sdn Bhd
Bangi Heights Development Sdn Bhd Property development and
property investment
70 70
================= =================
@ Subsidiary company consolidated using the merger method of accounting.
* These subsidiary companies have not commenced operations.
for the financial year ended 31 December 2005