7. Investment in joint ventures and associates (cont’d)
Investment in associates
The Group’s material investments in associates are as follows:
Group
2015 2014
$’000 $’000
PT. Hafar Capitol Nusantara
10,315
6,008
PT. Capitol Nusantara Indonesia
4,932
6,936
Other associates
*
*
15,247 12,944
* Denotes amount less than $1,000.
Details of the associates are as follows:
Name of associates
Principal activities
Place of
incorporation
and business
Proportion (%)
of ownership
interest
2015
%
2014
%
Held by the Company
Fastcoat Industries
Pte. Ltd.
1, (a)
Investment holding
and metal galvanising,
coating and protecting
operations
Singapore
44.5
44.5
Held through an associate
PT. Fastcoat
Industries
2, (a)
Metal galvanising,
coating and protecting
operations
Indonesia
44.5
44.5
Held through a subsidiary
PT. Hafar Capitol
Nusantara
2
Chartering of vessels
Indonesia 36.75 36.75
PT. Capitol Nusantara
Indonesia
2
Chartering of vessels and
ship management
Indonesia
27
27
1
Audited by Ernst & Young LLP, Singapore
2
Audited by other firms of auditors
(a)
These associates are not significant as defined under Rule 718 of the Singapore
Exchange Listing Manual.
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
119
