87
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
12.
INVESTMENT IN SUBSIDIARIES (CONT’D)
(b)
Interest in subsidiaries with material non-controlling interest (NCI)
Name of subsidiary
Principal place
of business
Proportion
of ownership
interest
held by non-
controlling
interest
Profit/(loss)
allocated
to NCI
during the
reporting
period
Accumulated
NCI at the
end of
reporting
period
Dividends
paid to
NCI
$’000
$’000
$’000
31 December 2014:
Niho (Singapore) Pte Ltd Singapore
40.97%
(382)
83
–
Jin Heng Li Hardware
Sdn Bhd
Malaysia
20.62%
(279)
452
–
31 December 2013:
Niho (Singapore) Pte Ltd Singapore
40.97%
(60)
465
–
Jin Heng Li Hardware
Sdn Bhd
Malaysia
40.77%
(91)
1,180
12
(c)
Summarised financial information about subsidiaries with material NCI
Summarised financial information including goodwill on acquisition and consolidation
adjustments but before intercompany eliminations of subsidiaries with material non-controlling
interests are as follows:
Summarised balance sheets
Niho (Singapore)
Pte Ltd
Jin Heng Li
Hardware Sdn Bhd
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Current
Assets
872
2,553
2,752
3,941
Liabilities
(918)
(1,881)
(1,129)
(1,651)
Net current assets
(46)
672
1,623
2,290
Non-current
Assets
216
431
581
662
Liabilities
–
–
(15)
(48)
Net non-current
assets
216
431
566
614
Net assets
170
1,103
2,189
2,904
