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Annual Report 2014 | S P SETIA BERHAD GROUP | 141

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

6. INVESTMENTS IN SUBSIDIARY COMPANIES

Group

2014

2013

RM’000

RM’000

Restated

Unquoted shares in Syarikat Kemajuan Jerai Sdn Bhd and Wawasan Indera Sdn Bhd, at cost

115,186

115,186

Unquoted shares in subsidiary companies, at cost

381,663

375,861

Capital contribution to subsidiary companies, at cost

1,409,829

1,302,669

LTIP granted to employees of subsidiary companies

45,511

17,953

Impairment loss

(61,008)

(61,206)

1,891,181

1,750,463

The capital contribution to subsidiary companies represents additional shareholders’ net investment. The capital contribution is

unsecured, interest free and the repayment of such balances are not expected in the foreseeable future until such time the subsidiary

companies are in the position to repay the amount without impairing its liquidity position.

The subsidiary companies are as follows:

Equity interest

Direct

Indirect

Country of

2014

2013

2014

2013 incorporation Principal activities

% % % %

Bandar Setia Alam Sdn Bhd

100

100

-

-

Malaysia

Property development

and property

investment holding

Setia Indah Sdn Bhd

100

100

-

-

Malaysia

Property development

and property

investment holding

Setia Duta One Sdn Bhd

100

100

-

-

Malaysia

Property development

*

Syarikat Kemajuan Jerai Sdn Bhd

100

100

-

-

Malaysia

Property development

and property

investment holding

*

S P Setia Project Management

Sdn Bhd

-

-

100

100

Malaysia

Property development

project management

*

Lagavest Sdn Bhd

-

-

100

100

Malaysia

Investment holding

*

Wawasan Indera Sdn Bhd

50

50

50

50

Malaysia

Property development

*

S P Setia Eco-Projects

Management Sdn Bhd

-

-

100

100

Malaysia

Property development

project management

*

Setia Recreation Sdn Bhd

-

-

100

100

Malaysia

Club operator

*

Ambleside Sdn Bhd

-

-

100

100

Malaysia

Property development

*

Bukit Indah (Johor) Sdn Bhd

100

100

-

-

Malaysia

Property development

and property

investment holding

Setia Bina Raya Sdn Bhd

100

100

-

-

Malaysia

Inactive