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128
WCT Berhad (66538-K)
annual report 2011
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d
8. INVESTMENT IN ASSOCIATES cont’d
Details of the associates are as follows:
Name of associates
Country of
incorporation Principal activities
Proportion of
ownership
interest
Khalid Abdulrahim Group WCT W.L.L. Bahrain Construction work 50 50
Held by WCT (International) Private Limited:
Gamuda-WCT (Offshore) Private Limited and its
subsidiary
Republic of
Mauritius
- Mapex Infrastructure Private Limited India Highway
concessionaire
Suria Holding (Offshore) Private Limited and its
subsidiary
Republic of
Mauritius
- Emas Expressway Private Limited India Highway
concessionaire
Held by WCT (Offshore) Private Limited:
2011
(%)
2010
(%)
Investment holding 30 30
30 30
Investment holding 30 30
Gamuda-WCT (India) Private Limited India Engineering,
procurement and
construction works
Swarna Tollway Private Limited India Highway
concessionaire
Held by WCT Infrastructure (India) Private
Limited:
30 30
30 30
21.6 21.6
Perdana Highway Operations Private Limited India Investment holding 50 50
All the associated companies have financial year end of 31 March, other than those incorporated in Republic of
Mauritius, which have financial year end of 31 July and those incorporated in Bahrain, which have financial year end of
31 December. For the purpose of applying the equity method of accounting for associated companies with financial year
end of 31 March and 31 July, the last audited financial statements available and the management financial statements
to the end of the accounting period of the associated companies have been used.