notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
8 INVESTMENT IN SUBSIDIARIES (CONTINUED)
Details of subsidiaries are as follows (continued):
Group’s effective interest Country of
incorporation
2014
2013
Principal activities
%
%
Triple Cash Sdn. Bhd.
79
79 Malaysia
Investment and property holding
Sunrise Green Sdn. Bhd.
71
**
40 Malaysia
Investment and property holding
Peakvest Sdn. Bhd.
100
100 Malaysia
Letting of properties
#
WS Agro Industries Pte. Ltd.
100
100 Singapore
Investment holding
#
Atama Resources Inc.
51
51
ø
Republic of Mauritius Investment holding
#
Atama Plantation SARL
51
51
ø
Republic of Congo
Business of agricultural development, cultivation
of oil palm and other crops and its related activities
Signet Plus Sdn. Bhd.
51
51
ø
Malaysia
Provision of management services of its related
companies
#
Agro Commodities Inc.
51
51
ø
Republic of Mauritius Trading of commodities and provision of services
#
Atama Forest SARL
51
51
ø
Republic of Congo
Dormant
WSC Capital (Labuan) Limited
100
100
++
Federal Territory of
Labuan, Malaysia
Investment holding
*
Audited by a firm other than member firms of PricewaterhouseCoopers International Limited and PricewaterhouseCoopers Malaysia.
#
Audited by a member firm of PricewaterhouseCoopers International Limited which is a separate and independent legal entity from PricewaterhouseCoopers
Malaysia.
~
Companies not required by their local laws to appoint statutory auditors.
^^
On 29 December 2014, Shashi Kanssen (Yadong) Coating Services Company Limited, an indirect wholly-owned subsidiary of the Company, completed its
Member’s Voluntary Winding Up via approval granted by the Industry and Commerce of Jingzhou, the People’s Republic of China.
***
On 27 November 2014, Wasco Coatings UK Ltd., an indirect wholly-owned subsidiary of the Company, incorporated a wholly-owned subsidiary in Italy, namely
Wasco Management Services S.R.L (“WMS SRL”), with an initial issued and paid-up share capital of Euro Dollar (“Euro”) 25,000 (equivalent to approximately
RM104,303) divided into 25,000 ordinary shares of Euro1.00 each, representing 100% of the initial issued and paid up share capital of WMS SRL, representing
100% of the initial issued and paid up share capital of WMS SRL.
ª
On 30 September 2014, Gas Services International (M) Sdn. Bhd. (“GSIM”), an indirect 70% owned subsidiary of the Company had at its Extraordinary General
Meeting inter-alia, approved the special resolution to wind up GSIM by way of Members’ Voluntary Winding Up.
100
Wah Seong Corporation Berhad • Annual Report 2014
