12.
INVESTMENT IN SUBSIDIARIES (CONTINUED)
(a)
Composition of the Group (continued)
Name of subsidiaries
Principal activities
Country of
incorporation/
business
Proportion of
ownership interest
2015
2014
% %
Held by HG Metal
Investments Pte Ltd
(continued)
HG Metal Pte Ltd
(1)
Investment holding
Singapore
100.00
100.00
HG Yangon Company
Limited
(3)(4)
Trading and
distribution of steel
products
Myanmar
100.00
–
Held by HG Metal
Manufacturing
Sdn Bhd
HG Metal Distribution
Sdn Bhd
(2)
Trading and
manufacturing of
steel products
Malaysia
100.00
100.00
(1)
Audited by Ernst & Young LLP, Singapore.
(2)
Audited by RSM Robert, Teo, Kuan & Co., Malaysia.
(3)
Not required to be audited under the laws of the country of incorporation.
(4)
Incorporated on 25 March 2015.
(b)
Interest in subsidiaries with material non-controlling interest (NCI)
Name of
subsidiaries
Principal
place of
business
Proportion
of ownership
interest held
by NCI
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
2015:
Niho (Singapore)
Pte Ltd
Singapore
0.00%
(22)
–
–
Jin Heng Li
Hardware Sdn
Bhd
Malaysia
20.62% (171)
234
–
31 December
2014:
Niho (Singapore)
Pte Ltd
Singapore
40.97% (382)
83
–
Jin Heng Li
Hardware Sdn
Bhd
Malaysia
20.62% (279)
452
–
87
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
