106
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
10. INVESTMENTS IN SUBSIDIARIES (continued)
(a) The details of the subsidiaries are as follows (continued):
Effective
Country of
interest in equity
Name of company
incorporation 2014 2013 Principal activities
% %
Subsidiaries of EPY Capital
Holdings Limited
e-pay (M) Sdn. Bhd.
Malaysia 100.00 -
Sales and solution provision of
vouchers bearing prepaid airtime
personal identification numbers
(PINS) and on-line top-ups for various
prepaid services in Malaysia and
investment holding.
PT e-pay Indonesia
Indonesia 100.00 -
Dormant.
e-pay Thailand Co. Limited Thailand 49.50
-
Dormant.
Subsidiaries of Mobiepay
Sdn. Bhd.
Pay Here Sdn. Bhd.
Malaysia 100.00 -
Engaged in the business of developing
and selling software.
PT Pembayaran Elektronik
Indonesia
Indonesia 100.00 -
Engaged in the business of developing
and selling software.
# Subsidiaries audited by BDO in Malaysia.
^ Effective interest of the Group in PT. Spotpay Indonesia (“Spotpay”) is 100% taking into account
99% interest in equity of Spotpay held by a wholly-owned subsidiary of the Company, GHL Asia
Pacific Limited.
@ The Group controls Pinoytek Solusyen, Inc. (“Pinoytek”) and e-pay Thailand Co. Limited (“e-pay
Thailand”) even though it owns less than fifty percent (50%) of the voting rights. These are because
the key management personnel of Pinoytek and e-pay Thailand, who have the ability to direct
the relevant activities, are current employees of the Group. Furthermore, significant portion of
Pinoytek’s and e-pay Thailand activities are conducted on behalf of the Group.
(b) During the financial year, the Company subscribed for additional 3,750,000 ordinary shares of RM1.00
each in GHL CardPay Sdn. Bhd. (“GHLCP”), a wholly-owned subsidiary of the Company, for total cash
consideration of RM3,750,000.
