Annual Report 2006 - Venture Corporation Limited

notes to financial statements
December 31, 2006
11 INVESTMENTS IN SUBSIDIARIES (Cont’d)
Name of
Subsidiaries
Country of
Incorporation
and Operation
Proportion of
Ownership
Cost of
Investment
Interest and
Voting Power Held Principal Activities
2006 2005 2006 2005
$’000 $’000 % %
GES Manufacturing
Services (M) Sdn Bhd
(wholly-owned subsidiary
of GES Investment Pte
Ltd) (1) Malaysia - - 100 - Provision of manufacturing
services to electronics
equipment manufacturers
Total 1,152,383 190,867
All the companies are audited by Deloitte & Touche, Singapore except for the subsidiaries that are indicated as
follows:
(1)
Audited by overseas practices of Deloitte Touche Tohmatsu.
(2)
Audited by another firm of auditors, Boon Suan Lee & Co.
(3)
Audited by another firm of auditors, Shanghai Shangshen Certified Public Accountants Co., Ltd.
(4)
Not required to be audited by law in its country of incorporation and individually not material to the results of the
group.
The net assets of the subsidiaries referred to in notes (2), (3) and (4) above are less than 20% of the net assets of the
group at the financial year end.
Amounts due to and from subsidiaries are unsecured, interest-free and payable within 12 months, other than advances
of $33,000,000 (2005: $33,000,000) which are extension of the company’s investment in the subsidiaries and hence
are capital in nature.
The trade receivables from subsidiaries of $46,544,000 (2005: $56,946,000) are stated at net of allowance for doubtful
trade receivables of $30,000,000 (2005: $25,000,000).
12 INVESTMENTS IN ASSOCIATES
The Company
The Group
2006 2005 2006 2005
$’000 $’000 $’000 $’000
Quoted equity shares, at cost 82,536 - 94,028 11,492
Unquoted equity shares, at cost - - 4,019 3,959
82,536 - 98,047 15,451
Share of post-acquisition profits,
net of dividend received - - 11,304 5,586
Currency realignment on
translation of foreign associates - - (81) 75
Net 82,536 - 109,270 21,112
Market value of quoted equity shares 53,200 - 66,283 19,363
annual report 2006
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