ANNUAL%20REPORT%202015%20eng

Notes to Consolidated Financial Statements
18 INTEREST IN ASSOCIATES
The following list contains only the particulars of material associates, all of which are unlisted corporate
entities whose quoted market price is not available:
Equity attributable
to the Company
Name of associate
Form of
business
structure
Place of
incorporation
and business
Particulars of
issued and paid
up capital
Group’s
effective
interest
Held by a
subsidiary
Principal activity
International Technical
College LLC
Incorporated Mongolia 913,500 shares of
MNT1,000 each
33.33% 33.33% T e c h n i c a l e d u c a t i o n
service (Note 1)
Gashuun Sukhait Road LLC Incorporated Mongolia 100,000 shares of
MNT1,000 each
40.00% 40.00% Paved road maintenance
service (Note 2)
Note 1: The investment in International Technical College LLC enables the Group to be equipped with the long-term
availability of skilled technical workforce.
Note 2: The principal activities of Gashuun Sukhait Road LLC are supplying safety, readiness, protection, repair and
maintenance service for paved road operations from Ukhaa Khudag to Gashuun Sukhait. The investment in
Gashuun Sukhait Road LLC enables the Group to monitor the usage situation of the aforementioned paved road.
All of the above associates are accounted for using the equity method in the consolidated financial
statements.
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Annual Report 2015