76
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
16.
Investments in subsidiaries
Company
2014
2013
$’000
$’000
Equity investments at cost
Beginning of financial year
94,251
78,450
Additions
–
1,210
Acquisitions (Note 31)
–
14,591
End of financial year
94,251
94,251
Details of subsidiaries are as follows:
Name of companies
Principal activities
Country of
business/
incorporation
Effective
equity holding
2014
%
2013
%
Held by the company
Mencast Marine Pte Ltd
(“Marine”)
(a)
Manufacture, supply
and refurbishment and
reconditioning of sterngear
Singapore
100
100
Mencast Engineering Pte Ltd
(“MEPL”)
(a)
Supply of oil & gas equipment
and precision engineering
services
Singapore
100
100
Mencast Offshore & Marine
Pte Ltd (“Offshore”)
(a)
Provision of mechanical
engineering works, and repair
of ships, tankers and other
ocean-going vessels
Singapore
100
100
Mencast Energy Pte Ltd
(“Energy”)
(a)
Manufacture of marine parts
& equipment
Singapore
70
70
Mencast Centre of Excellence
Pte Ltd
(a)
Provision of training services
Singapore
100
100
Recon Propeller & Engineering
Pte Ltd (“Recon”)
(a)
Sterngear services
Singapore
100
100
Mencast Procurement
(Singapore) Pte Ltd
(a)
Trading of materials and
equipment for the marine
oil & gas
Singapore
100
100
Top Great Engineering &
Marine Pte Ltd (“Top Great”)
(a)
Provision of mechanical
engineering works, and repair
of ships, tankers and other
ocean going vessels
Singapore
100
100
Mencast Subsea Pte Ltd
(“Subsea”)
(a)
Provision of underwater
commercial diving and top
side (rope access) services
Singapore
100
100
