| ANNUAL REPORT 2015
146
NOTES TO THE FINANCIAL STATEMENTS
30 June 2015 (cont’d)
11. INTERESTS IN ASSOCIATES (cont’d)
The details of the associates are as follows:
Interest in
equity held by
the Group
Country of
2015
2014 Financial
Name of company
incorporation
%
% year end
Principal activities
Makabumi Sdn. Bhd.
Malaysia
40
40
30 June
Dormant
Serene Glow Sdn. Bhd. (“SGSB”)
Malaysia
33
33
30 September
Property investment
and development
Paris RCG Sdn. Bhd.
Malaysia
30
30
30 June
Managing food and
beverage business
Braun Verwaltungs-GmbH
Germany
34
34
31 December
Marketing and
distribution of
fashionable leather
goods
Braun GmbH & Co. KG (“BBKG”)
Germany
34
34
31 December
Marketing and
distribution of
fashionable leather
goods
All the above associates are accounted for using the equity method in the consolidated financial statements.
The financial statements of the above associates are not coterminous with those of the Group, except for Makabumi Sdn. Bhd.
and PRCG. In applying the equity method of accounting, the management accounts of the associates for the financial year
ended 30 June 2015 have been used as the financial results of the associates are insignificant to the Group.
(a) In the previous financial year, BCB Properties Sdn. Bhd. (“BCBP”), a wholly owned subsidiary of the Company, further
subscribed 656,700 new ordinary shares of RM1.00 each at par in SGSB. BCBP’s shareholding in SGSB remains at 33% of
the enlarged issued and paid-up share capital of SGSB.
(b) The summarised financial information of the associates are as follows:
Braun
Verwaltungs
Other
-GmbH and
individually
Braun GmbH
immaterial
SGSB & Co. KG
PRCG associates
Total
2015
RM’000
RM’000
RM’000
RM’000
RM’000
Assets and liabilities
Current assets
2,577
13,564
1,191
1
17,333
Non-current assets
-
5,993
1,725
-
7,718
Total assets
2,577
19,557
2,916
1
25,051
