Annual Report 2011 - Food Junction

Notes to the Financial Statements (cont’d)
31 December 2011
4. Investment in subsidiary companies
Loan to subsidiary companies (cont’d)
Name of subsidiary
company Principal activities
Held by Star Party Pte. Ltd.
(1) LP+Tetsu Pte. Ltd. Sale of food and
beverages
(1) Zutis Pte. Ltd. Sale of food and
beverages
Held by Lifestyle Dining Pte. Ltd.
(1) Eggs & Berries Pte. Ltd. Investment holding
company
(1) Medzs Pte. Ltd. Investment holding
company
Held by Eggs & Berries Pte. Ltd.
(1) Eggs & Berries
(Singapore) Pte. Ltd.
Held by Medzs Pte. Ltd.
(1) Medzs (Singapore) Pte.
Ltd.
Sale of food and
beverages
Sale of food and
beverages
Country of
incorporation
and place of
business
(1) Audited by Ernst & Young LLP Singapore
(2) Audited by Ernst & Young Malaysia
(3) Audited by Ernst & Young Indonesia
(4) Audited by Ernst & Young China
(5) Audited by Ernst & Young Hong Kong
(6) Audited by LegendHouse CPAs
(7) Not required to be audited by the law of the country of incorporation.
* Cost of investment is $1.
Percentage of
equity held by
the Group
Cost of
investment
by the Company
2011 2010 2011 2010
% % $’000 $’000
Singapore 100 – – –
Singapore 100 – – –
Singapore 100 – – –
Singapore 100 – – –
Singapore 100 – – –
Singapore 100 – – –
The subsidiaries not audited by Ernst & Young LLP Singapore are not significant subsidiary companies
as defined under Rule 718 of the Listing Manual of the Singapore Exchange Securities Trading Limited.
Impairment testing of investment in subsidiary companies
No impairment loss (2010: Nil) was recognised in the current year based on the impairment test
performed by management.
Annual Report 73