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110
GHL Systems Berhad
(293040-D)
Annual report 2015
Notes to the Financial Statements
31 December 2015 (continued)
10. INVESTMENTS IN SUBSIDIARIES (continued)
(f) In the previous financial year, a wholly-owned subsidiary of the Company, GHL Asia Pacific Limited
(“GHL Asia Pacific”) subscribed an additional 72,237 ordinary shares or 5.46% equity interest of THB100
each and an additional 249,360 preference shares of THB100 each in GHL (Thailand) Co., Ltd. (“GHL
(Thailand)”), a subsidiary of the GHL Asia Pacific. Accordingly, the Group’s equity interest in GHL
Thailand increased from 89.99% to 95.45%. The total consideration for the subscription of THB32,159,700
was settled by offsetting the amount owing by GHL (Thailand) to GHL Asia Pacific. The Group had
recorded a debit difference of RM290,425 arising from this accretion of interest.
(g) In the previous financial year, the Company:
(i) acquired one hundred (100) ordinary shares of RM1.00 each in S Capital Sdn. Bhd. from e-pay Asia
Pty. Ltd., a wholly owned subsidiary of the Company, representing 100% of the issued and paid-up
share capital of S Capital Sdn. Bhd. for cash consideration of RM100;
(ii) acquired two (2) ordinary shares of RM1.00 each in Sentripay Sdn. Bhd. from e-pay Asia Pty. Ltd.,
a wholly owned subsidiary of the Company, representing 100% of the issued and paid-up share
capital of Sentripay Sdn. Bhd. for cash consideration of RM2;
(iii) acquired one (1) ordinary shares of USD1.00 each in EPY Capital Holdings Limited from e-pay Asia
Pty. Ltd., a wholly owned subsidiary of the Company, representing 100% of the issued and paid-up
share capital of EPY Capital Holdings Limited for cash consideration of RM1,080,012; and
(iv) acquired five hundred thousand (500,000) ordinary shares of RM1.00 each in Mobiepay Sdn. Bhd.
from e-pay Asia Pty. Ltd., a wholly owned subsidiary of the Company, representing 100% of the
issued and paid-up share capital of Mobiepay Sdn. Bhd. for cash consideration of RM500,000.
(h) The Group does not have any subsidiary that has non-controlling interests, which is individually material
to the Group for both financial years ended 31 December 2014 and 31 December 2015.
11. INVESTMENTS IN JOINT VENTURES
Group
2015
2014
RM
RM
Unquoted equity shares, at cost
2,017,542 1,973,442
Share of post-acquisition reserves
(1,074,191) (1,014,688)
Foreign exchange reserve
(46,900)
(46,900)
Accumulated impairment losses
(824,994)
(824,994)
71,457
86,860