Megachem Limited Annual Report 2015 103 Notes to the Financial Statements 31 December 2015 13. Investments in associated companies (cont’d) Details of the associated companies are as follows: Name of associated companies, principal activities, country of incorporation and place of operations Equity holding 2015 2014 % % Megachem (Thailand) Limited * Trading in chemicals and chemical-related products Thailand 48 48 Held by Megachem (Thailand) Limited Megalatexs Co., Limited # Manufacturing of bedding products Thailand – 48 Vertis Latex Co., Limited # Manufacturing of bedding products Thailand 14 – * For the reporting year ended 31 December 2015, audited by firms of accountants other than member firms of RSM International of which RSM Chio Lim LLP in Singapore is a member. # Megalatexs Co., Limited ceased operations during the reporting year ended 31 December 2015 and amalgamated to form Vertis Latex Co., Limited which is 30% owned by Megachem (Thailand) Limited. They are associates that are considered material to the reporting entity. The summarised financial information of the material associates and the amounts (and not the reporting entity’s share of those amounts) based on the financial statements of the associates are as follows. These are adjusted to reflect adjustments made by the reporting entity when using the equity method. 2015 2014 $ $ Dividends paid 4,822,590 1,557,840 Revenue 21,977,422 25,472,874 Prof it 1,880,387 2,168,238 Other comprehensive loss 957 (19,651) Total comprehensive income 1,881,344 2,148,587 Current assets 9,429,426 13,188,645 Non-current assets 4,846,738 4,807,954 Current liabilities (3,205,052) (3,756,919) Non-current liabilities (332,660) (284,604) Net assets of the associate 10,738,451 13,955,076
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