110
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
11. INVESTMENTS IN JOINT VENTURES
Group
2014
2013
RM
RM
Unquoted equity shares, at cost
1,973,442
-
Share of post-acquisition reserves
(1,014,688)
-
Foreign exchange reserve
(46,900)
-
Accumulated impairment losses
(824,994)
-
86,860
-
(a) The details of the joint venture are as follows:
Effective
Country of
interest in equity
Name of company
incorporation 2014 2013 Principal activities
% %
MRuncit Commerce
Sdn. Bhd.
Malaysia
49
-
Engaged in the business of
developing and selling software and
e-commerce.
e-pay Pakistan (Private)
Limited
^
Pakistan
50
-
Sales and solution provision of
vouchers bearing prepaid airtime
personal identification numbers (PINS)
and online top-ups for various prepaid
services in Pakistan.
Electronic Payment
Network (Thailand) Co.
Limited
^
Thailand
16
-
Sales and solution provision of
vouchers bearing prepaid airtime
personal identification numbers (PINS)
and online top-ups for various prepaid
services in Thailand.
^
The unaudited financial statements were used in the consolidation of the results of the joint
ventures.
(b) The Directors of the Company are of the view that the investments in joint ventures are insignificant to
the Group as at the end of the reporting period.
12. AVAILABLE-FOR-SALE INVESTMENTS
Group
2014
2013
RM
RM
Available-for-sale financial assets
8,000,000
-
