Page 138 - S P Setia Annual Report 2016
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136   S P Setia Berhad Group
                Annual Report 2016




          Notes To The Financial Statements

          For The Financial Year Ended 31 December 2016

          6.   INVESTMENTS IN ASSOCIATED COMPANIES (CONT’D.)
              The details of the individual Group’s associated companies are not disclosed as they are deemed to be immaterial to the Group. The
              summarised aggregate financial information of the Group’s share of individually non-material associated companies as at 31 December
              is set out below:

                                                                                                  2016          2015
                                                                                                RM’000        RM’000

               Profit for the year/period                                                         4,877         4,533
               Other comprehensive income for the year/period                                        -             -
               Total comprehensive income for the year/period                                     4,877         4,533

               Carrying amount of the Group’s interest in individually non-material associated companies  27,152  25,496
               Capital contribution to an associated company, at cost*                           94,721        94,721
                                                                                                121,873       120,217

              *    This amount relates to the capital contribution to Qinzhou Development (Malaysia) Consortium Sdn Bhd, an associated company which holds the investment
                   in China-Malaysia Qinzhou Industrial Park (Guangxi) Development Co. Ltd. in China.

              The capital contribution is unsecured, interest free and is not expected to be recalled within the next 12 months.

              The associated companies are as follows:

                                                               Equity interest
                                                           Direct        Indirect    Country of
                                                       2016    2015   2016    2015  incorporation  Principal activities
                                                         %      %      %       %
               PTB Property Developer Sdn Bhd            -      -      49      49     Malaysia   Property development
               Qinzhou Development (Malaysia) Consortium    45  45      -      -      Malaysia   Investment holding
                 Sdn Bhd
               *  Qinzhou Development (Hong Kong) Limited  -    -      45      45    Hong Kong   Investment holding
               *  China-Malaysia Qinzhou Industrial Park   -    -      22      22      China     Property development
                   (Guangxi) Development Co. Ltd

              *    Audited by member firms of Ernst & Young Global in the respective countries

              The financial year end of the associates are co-terminous with those of the Group.
              For the purpose of applying the equity method of accounting, the management accounts of these associates for the year ended
              31 December 2016 have been used.


          7.   INVESTMENTS IN JOINTLY CONTROLLED ENTITIES

                                                                        Group                      Company
                                                                      2016          2015          2016          2015
                                                                   RM’000         RM’000        RM’000        RM’000
               Unquoted ordinary shares, at cost                  1,828,946     1,132,380       33,250         33,250
               Premium on acquisition                                6,879         6,879             -             -
               Group’s share of post-acquisition profits less losses  (189,324)  (243,385)           -             -
               Group’s share of non-distributable reserves          31,147        189,916            -             -
               LTIP granted to employees of jointly controlled entities  75         1,045          125          1,742
                                                                  1,677,723     1,086,835        33,375        34,992
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