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112
SapuraCrest Petroleum Berhad
Annual Report 2010
noteS to the FinAnCiAl StAtementS
31 January 2010
17. inveStmentS in Jointly ContRolleD entitieS (Cont’D)
Details of the jointly controlled entities are as follows:
name of Country of Proportion of
Company incorporation Principal Activities ownership interest
2010 2009
% %
BTL Sdn. Bhd. Malaysia Dormant 35 35
* Uzmal Oil Inc. Uzbekistan Oilfield production 50 50
SapuraAcergy Sdn. Bhd. Malaysia Managing and operating 50 50
of vessel and provision
of offshore related works
SapuraAcergy Assets Federal Territory of Leasing of vessel and 50 50
Pte. Ltd Labuan, Malaysia operational equipment
* Offshore International FZC United Arab Emirates Vessel owner 40 40
* Quippo Prakash Pte. Ltd. Singapore Vessel owner 26 —
* Audited by firms other than Ernst & Young
On 1 August 2008, the Company through its wholly owned subsidiary, Geomark Sdn. Bhd. (“Geomark”) entered into a shareholders’
agreement with AP Prakash Shipping Company Pte Ltd (“APPPL”) to participate in the construction and ownership of a new vessel by
Quippo Prakash Pte. Ltd. (“QPPL”) (“the JV Agreement”).
The joint venture became effective on 21 May 2009 with Geomark and APPPL holding 26% and 74% respectively.
18. DeFeRReD tAX
group Company
2010 2009 2010 2009
Rm’000 Rm’000 Rm’000 Rm’000
At 1 February (2,418) 8,010 568 —
Recognised in the income statement (Note 10) (3,555) (9,073) (2,386) 568
Acquisition of a subsidiary (Note 37) 30 — — —
Exchange differences 1,777 (1,355) — —
At 31 January (4,166) (2,418) (1,818) 568
Presented after appropriate offsetting as follows:
Deferred tax assets (14,675) (11,001) (1,818) —
Deferred tax liabilities 10,509 8,583 — 568
(4,166) (2,418) (1,818) 568