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16. inveStmentS in ASSoCiAteS (Cont’D)
The Group’s interest in the associates is analysed as follows:
2010 2009
Rm’000 Rm’000
Share of net assets 1,878 5,797
Share of goodwill in associates 4,641 4,641
(i) Details of the associates are as follows:
6,519 10,438
name of Country of Proportion of
Company incorporation Principal Activities ownership interest
2010 2009
% %
* TL Oilserve Sdn. Bhd. Malaysia Provision of marine — 40
(formerly known vessel transportation
as Scomi Oilserve services
Sdn. Bhd.)
* Oilserve (L) Berhad Federal Territory Leasing of vessels/ — 40
of Labuan, barges
Malaysia
* Geowell Sdn. Bhd. Malaysia Provision for wireline, production 30 30
testing and associated services
for oil and gas companies
Subang Properties Malaysia Dormant 36.2 36.2
Sdn. Bhd.
* Audited by firms other than Ernst & Young
(ii) As disclosed in Note 37(d)(ii), TL Oilserve Sdn. Bhd. became a wholly owned subsidiary of TL Geotechnics Sdn. Bhd. during the
year.
(iii) The financial statements of the above associates are coterminous with those of the Group, except for Geowell Sdn. Bhd. and
Subang Properties Sdn. Bhd. which have financial year end of 31 December. For the purpose of applying the equity method of
accounting, the financial statements for the year ended 31 December 2009 have been used and appropriate adjustments have
been made for the effects of significant transactions between 31 December 2009 and 31 January 2010.
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SapuraCrest Petroleum Berhad
Annual Report 2010