87 / 136
86
FRONTKEN CORPORATION BERHAD
(651020-T)
ANNUAL REPORT
2015
11.
INVESTMENTS IN SUBSIDIARIES (CONT’D)
Details of the subsidiaries are as follows: (Cont’d)
Name of
Subsidiaries
Principal
Place of
Business
Effective
Equity
Interest
Principal Activities
2015
2014
%
%
Indirect Subsidiaries
Frontship Pte. Ltd.
1
Singapore
100
100 Procurement of materials, equipment
consumable parts and engineering services.
Ares Green
Technology
Corporation (“AGTC”)
1
Taiwan
64.38
57.92 Provision of surface treatment and advanced
precision cleaning for the TFT - LCD (Thin Film
Transistor - Liquid Crystal display) and semi-
conductor industries.
Ares Green International
Corporation (“AGIC”)
1
Samoa
64.38
57.92 Investment holding.
Frontken Projects Pte. Ltd.
(“FPPL”)
1
Singapore
100
51 General contractors and process and individual
plant engineering services.
1 The financial statements of the subsidiaries are audited by auditors other than the auditors of the Company.
2 The financial statements of the subsidiaries are audited by Messrs. Crowe Horwath.
3 FMIC and TTES are considered subsidiaries of the Group as the Group has control over the operating and
management policies of these subsidiaries via the board of directors appointed by the Group.
The non-controlling interests at the end of the reporting period comprise the following:
Effective Equity Interest
The Company
2015
2014
2015
2014
%
%
RM
RM
AGTC
35.62
42.08
33,395,587
29,115,223
TTES
55
55
3,641,135
3,278,556
FPPL
-
49
-
2,034,306
Other individually immaterial
subsidiaries
(2,352,866)
(1,515,017)
34,683,856
32,913,068
NOTES TO THE FINANCIAL STATEMENTS
(cont’d)