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146 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

6. INVESTMENTS IN SUBSIDIARY COMPANIES (CONT’D)

Subsidiaries that have material non-controlling interests

Details of the Group’s subsidiaries that have material non-controlling interests at the end of the reporting period are as follows:

Proportion of

ownership

Place of

interests held by

incorporation

non-controlling

Profit allocated to

Carrying amount of

Name of

and

interests non-controlling interests* non-controlling interests

subsidiary

operation

2014

2013

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Bandar Eco-Setia

Sdn Bhd

Malaysia

50%

50%

52,047

34,209

254,185

202,137

Setia Eco Glades

Sdn Bhd

Malaysia

30%

30%

8,925

4,257

27,335

18,410

Kesas Kenangan

Sdn Bhd

Malaysia

30%

30%

18,682

25,729

29,621

35,239

Individually immaterial

subsidiaries with

non-controlling interests

(1,040)

(548)

310,101

255,238

* Amounts before intra-group elimination

Summarised financial information of the Group’s subsidiaries that have material non-controlling interests (amounts before intra-group

elimination) is as follows:

2014

2013

RM’000

RM’000

Bandar Eco-Setia Sdn Bhd

Non-current assets

401,181

421,411

Current assets

367,979

369,651

Non-current liabilities

(33,850)

(80,000)

Current liabilities

(226,941)

(306,787)

Net assets

508,369

404,275

Revenue

205,443

279,069

Profit for the year

104,094

68,418

Other comprehensive income for the year

-

-

Total comprehensive income for the year

104,094

68,418

Dividends paid to owners of non-controlling interests

-

-

Net cash generated from operating activities

97,540

145,791

Net cash used in investing activities

(4,204)

(1,084)

Net cash used in financing activities

(49,207)

(31,358)

Net increase in cash and cash equivalents

44,129

113,349