Asia Media Annual Report 2018

93 | P a g e 5. DEVELOPMENT COSTS (CONTINUED) Based on the current Board of Directors’ assessment, development costs were no longer feasible to generate any economic benefits to the Group. Therefore, the Group has written off the development costs amounted to RM3/-. 6. INVESTMENT IN SUBSIDIARY COMPANIES All subsidiary companies are incorporated in Malaysia. Details of the subsidiary companies are as follows:- 2018 2017 RM RM Unquoted shares, at cost At 1 January 12,999,998 17,999,998 Less: Impairment loss during the financial year (12,999,998) (1,000,000) - 16,999,998 Reclassified to non-current assets held for sale - (4,000,000) At 31 December - 12,999,998 Company Name of subsidiaries 2018 2017 Principal activities % % Direct subsidiaries Asia Media Sdn. Bhd. # 100 100 Business of multimedia advertising services, media communications, commercialisation of narrowcasting network solutions, and dynamic, and automation contents, and provision of intergration, maintenance and support services relating to the above products. DPO Plantations Sdn. Bhd.* @ - 100 Cultivation of oil palm Indirect subsidiaries Held through Asia Media Sdn. Bhd. Asia Media Broadcasting Sdn. Bhd. *^ 70 70 Dormant Transnet Express Sdn. Bhd.* - 100 Dissolved on 11 January 2018 Held through DPO Plantations Sdn. Bhd. DPO Pelita Bintangor Sdn. Bhd.* @ - 60 Dormant Effective equity interest