2012 Annual Report - Media Prima Berhad

Media Prima Berhad
Notes to
the Financial Statements
for the financial year ended 31 December 2012
26 SUBSIDIARIES (CONTINUED)
During previous financial year, the Group completed phase 1 of the restructuring exercise which resulted in the
following transfers:
– the disposal of the Company’s entire equity and non-equity interests in ntv7, TV9 and Merit Idea Sdn Bhd
(which wholly-owns 8TV), to STMB (a subsidiary of the Company) for a total consideration of RM376.7 million;
and
– the disposal of the Company’s entire equity and non-equity interests in Perintis Layar Sdn Bhd (which whollyowns
FlyFM), to Synchrosound Studio Sdn Bhd (a subsidiary of the Company) for a total consideration of RM18
million.
The above restructuring exercise has no impact to the Group’s and Company’s results or cash outflows (Note 40).
The details of the subsidiaries are as follows:
Country of
Name of company incorporation Principal activities Interest in equity
2012 2011 1.1.2011
% % %
Sistem Televisyen Malaysia Commercial television 100 100 100
Malaysia Berhad
broadcasting
(“STMB”)
Synchrosound Studio Malaysia Commercial radio 100 100 100
Sdn Bhd
broadcasting
Big Tree Outdoor Malaysia Provision of advertising 100 100 100
Sdn Bhd (“BTO”)
space and related
services, investment
holding and
management services
Primeworks Studios Malaysia Production of motion picture 100 100 100
Sdn Bhd
films, acquiring ready made
films from local producers
and production houses
and investment holding
Big Events Sdn Bhd Malaysia Events management 100 100 100
The Talent Unit Sdn Bhd Malaysia Talent management
of artistes 100 100 100
Alternate Records Malaysia Album production and 100 100 100
Sdn Bhd
recording studio
Amity Valley Sdn Bhd Malaysia Investment holding 100 100 100
212
annual
report
2012