128
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
10. INVESTMENTS IN SUBSIDIARIES (continued)
(c)
In the previous financial year: (continued)
(iii) The dissolution of an indirect wholly-owned subsidiary of the Company, namely Guangzhou Bonia Fashions Co. Ltd. (“GBF’)
was completed. Prior to the dissolution, GBF was a wholly-owned subsidiary company of KSGL, which in turn was a direct
wholly-owned subsidiary of the Company.
(d)
There were no material financial effects to the Group and the Company arising from the incorporation and acquisitions of these
subsidiaries during the financial year ended 30 June 2016 and financial year ended 30 June 2015.
(e)
The subsidiaries of the Group that have material non-controlling interests (“NCI”) are as follows:
2016
Mcore
VRD NSSB AMSB Jeco Group
Other
individual
immaterial
subsidiaries
Total
NCI percentage of ownership interest and
voting interest
40% 25% 10% 40% 30% -
-
Carrying amount of NCI (RM’000)
(64)
1,725
53
(99)
19,075
11
20,701
(Loss)/Profit allocated to NCI (RM’000)
(26)
(568)
(35)
(3)
5,779
(1)
5,146
2015
NCI percentage of ownership interest and
voting interest
40% 25% 10% 40% 30% -
-
Carrying amount of NCI (RM’000)
(38)
2,293
208
(96)
14,422
-
16,789
(Loss)/Profit allocated to NCI (RM’000)
(33)
(35)
12
(3)
5,531
-
5,472
The NCI of all other subsidiaries that are not wholly owned by the Group are deemed to be immaterial.
(f)
The summarised financial information before intra-group elimination of the subsidiaries that have material NCI as at the end of each
reporting period are as follows:
2016
Mcore
RM’000
VRD
RM’000
NSSB
RM’000
AMSB
RM’000
Jeco Group
RM’000
Assets and liabilities
Non-current assets
-
1,557
-
-
78,097
Current assets
10
10,869
536
4
65,335
Non-current liabilities
-
(104)
-
-
(18,757)
Current liabilities
(879)
(5,394)
(5)
(1,291)
(61,350)
Net (liabilities)/assets
(869)
6,928
531
(1,287)
63,325
Results
Revenue
-
20,788
2,115
-
143,708
(Loss)/Profit for the financial year
(64)
(2,272)
(354)
(8)
19,002
Total comprehensive (loss)/income
(64)
(2,272)
(354)
(8)
21,291
Cash flows (used in)/from operating activities
(64)
(3,063)
1,603
(8)
31,453
Cash flows from/(used in) investing activities
60
1
(318)
10
(7,105)
Cash flows from/(used in) financing activities
-
1,810
(1,333)
-
(18,770)
Net (decrease)/increase in cash and cash
equivalents
(4)
(1,252)
(48)
2
5,578
Dividends paid to NCI
-
-
120
-
1,804
