Change - S P Setia Berhad

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104 Annual report 2008 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 7. INVESTMENT IN SUBSIDIARY COMPANIES (cont’d) Equity interest Direct Indirect Country of 2008 2007 2008 2007 incorporation Principal activities % % % % * Indera Perasa Sdn Bhd 70 70 – – Malaysia Investment holding * Dian Mutiara Sdn Bhd – – 100 100 Malaysia Dormant * Kenari Kayangan Sdn Bhd 100 100 – – Malaysia Investment holding Bukit Indah (Selangor) Sdn Bhd 100 100 – – Malaysia Dormant S P Setia Property Holdings Sdn Bhd 100 100 – – Malaysia Property investment Setia Hicon Sdn Bhd 100 100 – – Malaysia Dormant S P Setia Technology Sdn Bhd 100 100 – – Malaysia Contractor for home automation and alarm systems Setia Alam Property Holdings 100 100 – – Malaysia Dormant Sdn Bhd Setia Promenade Sdn Bhd 100 100 – – Malaysia Property development and property investment holding * Bukit Indah Property 70 70 – – Malaysia Property development Management Sdn Bhd * Kewira Jaya Sdn Bhd 100 100 – – Malaysia Property development Aeropod Sdn Bhd 70 70 – – Malaysia Property development Setia International Limited 100 100 – – British Investment holding Virgin Islands Setia MyPhuoc Limited – – 100 100 British Investment holding Virgin Islands Setia D-Nine Limited – – 100 – British Investment holding (formerly known as Prime Virgin Islands Globe Holdings Limited) Setia Saigon East Limited – – 100 – British Investment holding (formerly known as Toptec Virgin Islands Holdings Limited) Setia Capital (Vietnam) Limited – – 100 – British Investment holding Virgin Islands Setia Land (Vietnam) Limited – – 100 – British Investment holding Virgin Islands Setia Eco Villa Sdn Bhd 100 100 – – Malaysia Dormant Sentosa Jitra Sdn Bhd 100 – – – Malaysia Dormant Kayan Setegas Sdn Bhd 100 – – – Malaysia Dormant * Not audited by Moores Rowland ** Became a jointly controlled entity during the financial year
105 S P Setia Berhad Group NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 8. INVESTMENT IN ASSOCIATED COMPANIES Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Ordinary shares quoted in Malaysia at cost – 56,438 – – Unquoted ordinary shares at cost 41,648 41,648 39,276 39,276 Accumulated impairment loss – – (27) (27) Group’s share of post-acquisition profits less losses and less unrealised profit 64,912 46,358 – – 106,560 144,444 39,249 39,249 Market value of shares quoted in Malaysia – 52,678 – – The summarised financial information of the associated companies are as follows: 2008 2007 RM’000 RM’000 Assets and liabilities Total assets 759,709 1,050,820 Total liabilities 495,609 637,897 Results Revenue 345,271 639,625 Profit for the year 21,565 55,958 The Group’s share of the current year’s losses and the accumulated losses of 3 associated companies amounting to RM4,000 and RM647,000 (2007 : RM1,000 and RM643,000), respectively, have not been recognised in the Group’s income statement as equity accounting has ceased when the Group’s share of losses of these associated companies exceeded the carrying amount of its investment in these associated companies.
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embracing Change Annual Report 2008
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1 S P Setia Berhad Group Table of c
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3 S P Setia Berhad Group CORPORATE
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7 S P Setia Berhad Group GROUP FINA
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9 S P Setia Berhad Group HALLMARKS
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13 S P Setia Berhad Group Corporate
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15 S P Setia Berhad Group CHAIRMAN
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17 S P Setia Berhad Group Group Man
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19 S P Setia Berhad Group GROUP MAN
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21 S P Setia Berhad Group Setia Ala
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23 S P Setia Berhad Group REVIEW OF
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25 S P Setia Berhad Group REVIEW OF
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29 S P Setia Berhad Group World Env
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39 S P Setia Berhad Group Executive
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41 S P Setia Berhad Group 50% Green
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43 S P Setia Berhad Group Profile o
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45 S P Setia Berhad Group PROFILE O
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47 S P Setia Berhad Group PROFILE O
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OneMind : SP SETIA 08AR: 4rd Draft
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S P SETIA BERHAD (19698-X) (Incorpo
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group directory HEAD OFFICE S P SET
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Change - S P Setia Berhad

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