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GHL Systems Berhad
(293040-D)
Annual report 2015
Notes to the Financial Statements
31 December 2015 (continued)
11. INVESTMENTS IN JOINT VENTURES (continued)
(a) The details of the joint ventures are as follows:
Effective
Country of
interest in equity
Name of company
incorporation 2015 2014 Principal activities
% %
MRuncit Commerce Sdn. Bhd.
#
Malaysia
49
49 Engaged in the business of
developing and selling software
and e-commerce.
e-pay Pakistan (Private)
Limited
^
Pakistan
50
50 Dormant.
Electronic Payment Network
(Thailand) Co. Limited
^
Thailand
16
16 Dormant.
#
Joint venture audited by BDO in Malaysia.
^
The unaudited financial statements were used in the consolidation of the results of the joint
ventures.
(b) During the financial year, the Company acquired an additional of 44,100 ordinary shares in MRuncit
Commerce Sdn. Bhd., a joint velnture of Mobiepay Sdn. Bhd., a wholly owned subsidiary of the
Company by way of set-off of intercompany balances amounting to RM44,100.
(c) The Group does not have any joint venture, which is individually material to the Group for both financial
years ended 31 December 2014 and 31 December 2015.
12. AVAILABLE-FOR-SALE INVESTMENTS
Group
2015
2014
RM
RM
Available-for-sale financial assets
8,000,000 8,000,000
(a) As at theendof the reportingperiod, available-for-sale investments with carryingamount of RM8,000,000
have been pledged to a bank for credit facilities to the Group as disclosed in Note 22 to the financial
statements.
(b) Information on the fair value hierarchy is disclosed in Note 35(d) to the financial statements.