Page 144 - S P Setia Annual Report 2016
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142   S P Setia Berhad Group
                Annual Report 2016




          Notes To The Financial Statements

          For The Financial Year Ended 31 December 2016

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

              The jointly controlled entities are as follows (cont’d.):

                                                        Proportion of ownership interest
                                                           Direct        Indirect    Country of
                                                       2016    2015   2016    2015  incorporation  Principal activities
                                                         %      %      %       %
               *  Battersea Power Station Estates Limited  -    -      40     40       United    Property management
                                                                                      Kingdom     services
               ~ * Battersea Power Station Estate Management    -  -   40      -       United    Estate management
                   Limited                                                            Kingdom     services
               ~ * Battersea Power Station Asset Management    -  -    40      -       United    Asset management
                   Limited                                                            Kingdom     services

               ~ * Battersea Power Station Management Services    -  -  40     -       United    Management services
                   Limited                                                            Kingdom
               ~ * Battersea Academy for Skills Excellence  -   -      40      -       United    Community interest
                                                                                      Kingdom

                   Audited by a firm other than Ernst & Young
              #
              *    The financial year of these jointly controlled entities ends on 30 June (2015: 31 October) and audited by a firm other than Ernst & Young
                   Subsidiaries consolidated in Battersea Project Holding Company Limited Group
              ^
                   Subsidiaries consolidated in Battersea Project Development 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.

              The Group’s share of capital commitments of the jointly controlled entities at the reporting date are as below:

                                                                                                  2016          2015
                                                                                                RM’000        RM’000

               Capital commitments:
               -  Commitments in relation to development work                                   499,673        55,773
               -  Purchase of development land                                                  116,736       135,093

              There is no share of contingent liability and operating lease commitment of the jointly controlled entities of the Group as at the
              reporting date.
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