KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
75
16.
Investments in associates
Group
Company
2014 2013
2014 2013
$’000 $’000
$’000 $’000
Unquoted equity shares, at cost
Balance at beginning of the year
5,803 5,680
5,803 5,680
Additions
40
703
40
703
Transfer from investments in subsidiaries
33
–
–
–
Transfer from other investments
542
–
542
–
Disposal
–
(580)
–
(580)
Transfer to investments in subsidiaries
(2,637)
–
(2,637)
–
Balance at end of the year
3,781 5,803
3,748 5,803
Unquoted preference shares, at cost
Balance at beginning and end of the year
264
264
264
264
Share of post acquisition reserves
Balance at beginning of the year
3,522 3,199
–
–
Share of profit for the year
1,021
820
–
–
Dividend income
(496)
(497)
–
–
Arising out of transfer to investments in subsidiaries
193
–
–
–
Balance at end of the year
4,240 3,522
–
–
Foreign exchange adjustments
(190)
(174)
–
–
Carrying amount of investments
8,095 9,415
4,012 6,067
No impairment loss (2013: $Nil) was recognised for the reporting year ended 31 December 2014 as the recoverable
amounts were in excess of the carrying amounts.
Name of associate
Country of incorporation and principal place of business
Principal activities
(Independent Auditor)
Percentage of
effective equity
interest held by
the Group
2014 2013
% %
Ascend Com Pte. Ltd.
40.00 40.00
Singapore
Renting and selling audio-visual, computer and peripheral equipment
(C Y Ng & Co)
Kingsmen Korea Limited
38.00 38.00
Korea
Design and production of architectural interiors, decorations and museums
(SEOU Accounting Corporation)
Kingsmen Nikko Limited
30.00 30.00
Japan
Advertising contractors and agents and design and production of exhibitions,
decorations and museums
(Not required to be audited by the law of its country of incorporation)
Notes to the Financial Statements
31 December 2014
