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154 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

8. INVESTMENTS IN JOINTLY CONTROLLED ENTITIES (CONT’D)

Proportion of ownership interest

Direct

Indirect

Country of

2014

2013

2014

2013 incorporation Principal activities

% % % %

^

Battersea Phase 7 Holding

Company Limited

-

-

40

40

Jersey

Property investment

holding

^

Battersea Project Phase 7 Company

Limited

-

-

40

40

Jersey

Property investment

holding

^

Battersea Project Phase 7

Development Company Limited

-

-

40

40

Jersey

Dormant

^

Battersea Project Phase 7

Residential Company Limited

-

-

40

40

Jersey

Dormant

^

Battersea Project Phase 7 Nominee

Company Limited

-

-

40

40

Jersey

Property development and

property investment

holding

^

Battersea Project Phase 7

Management Company Limited

-

-

40

40

Jersey

Dormant

^

Battersea Project Phase 7 GP

Limited

-

-

40

40

Jersey

Property development and

property investment

holding

^

Battersea Project Phase 7 LP

Limited

-

-

40

40

Jersey

Property development and

property investment

holding

^

Battersea Project Phase 7

Commercial Limited Partnership

-

-

40

40 United Kingdom Property development and

property investment

holding

^

Battersea Project Estate Company

Limited

-

-

40

40

Jersey

Dormant

^

Battersea Project Phase 2

Refurbishment Company Limited

-

-

40

40

Jersey

Property development

Battersea Power Station Estates

Limited

(formerly known as BPS

Sales and Lettings Limited)

-

-

40

40 United Kingdom Property management

services

# Audited by Mazars, Malaysia

+ Audited by member firms of Mazars in the respective countries

* The financial year of these jointly controlled entities ends on 31 December

^ Subsidiaries consolidated in Battersea Project Holding Company Limited Group

Notwithstanding that the Group is having ownership of more than half of the equity shareholding in certain companies, they are treated

as jointly controlled entities pursuant to the contractual rights and obligations of the respective joint venture agreements.

The Group’s jointly controlled entities are accounted for using the equity method in the financial statements.