Megachem Limited Annual Report 2015 102 Notes to the Financial Statements 31 December 2015 12. Investments in subsidiaries (cont’d) Name of subsidiary, principal activities, country of incorporation and place of operations Equity holding 2015 2014 % % Held by subsidiaries Megachem International Trading (Shanghai) Co., Ltd (b) Trading in chemicals and chemical-related products People’s Republic of China 85 85 P.T. Mega Kemiraya (b) Trading in chemicals and chemical-related products Indonesia 74 74 MGI Chemicals Private Limited (b) Trading in chemicals and chemical-related products India 1 1 (a) Audited by RSM Chio Lim LLP. (b) Audited by member firms of RSM International of which RSM Chio Lim LLP in Singapore is a member. (c) Not audited as relieved from the requirement to prepare and lodge an audited financial report with the local authorities. There are no subsidiaries that have non-controlling interests that are considered material to the reporting entity. 13. Investments in associated companies Group Company 2015 2014 2015 2014 $ $ $ $ Carrying value: Unquoted equity shares at cost 99,949 99,949 Movements in carrying value during the year: Balance at beginning of year 6,762,102 6,239,604 Currency translation difference (164,590) 265,630 Share of profit for the year 897,508 1,011,364 Dividends received, net of tax (2,296,065) (754,496) Balance at end of year 5,198,955 6,762,102 Share of net book value of associated companies 5,198,955 6,762,102
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