continued - The Lion Group

18. INVESTMENT IN SUBSIDIARIES
74
Company
2010 2009
RM’000 RM’000
Unquoted Shares
At cost 40,718 41,758
Accumulated impairment losses (31,296) (32,336)
9,422 9,422
Additional cost of investment arising from share options 2,451 2,430
11,873 11,852
Certain investments in subsidiaries with carrying values totalling RM9.4 million (2009: RM9.4 million) have been
charged as security for the bonds and debts issued by the Company.
The subsidiaries are:
Country of Holding in Equity
Name of Company Incorporation 2010 2009 Principal Activities
% %
Kinabalu Motor Assembly Malaysia 50.01 50.01 Sale of commercial vehicles
Sendirian Berhad *
LCB Harta (M) Sdn Bhd Malaysia 100.00 100.00 Managing of debts novated
from LCB and certain of its
subsidiaries pursuant to a
debt restructuring exercise
undertaken by LCB and
certain of its subsidiaries
LCB Venture Pte Ltd * Republic of – 100.00 Ceased operations
(Dissolved on 7.8.2009) Singapore
Limpahjaya Sdn Bhd Malaysia 100.00 100.00 Investment holding
Lion Construction & Malaysia 100.00 100.00 Construction and civil
Engineering Sdn Bhd engineering work
Lion Excellent Sdn Bhd Malaysia – 100.00 Ceased operations
(Dissolved on 1.9.2009)
Lion General Trading & Republic of 100.00 100.00 General merchant
Marketing (S) Pte Ltd * Singapore
Lion Rubber Works Sdn Bhd Malaysia 100.00 100.00 Ceased operations
Lion Steelworks Sdn Bhd Malaysia 100.00 100.00 Manufacture and distribution
of office equipment, security
equipment and steel related
products