Ni Hsin Berhad Annual Report 2017

5. Investments in subsidiaries (continued) Details of the subsidiaries are as follows: (continued) Effective Country of ownership interest Name of subsidiary Principal activities incorporation 2017 2016 % % and its subsidiary: Pentoli S.R.L.* Retail sales of kitchenware, tableware and cookware, water filter and related products and accessories Italy 100 100 Inoco Resources Sdn. Bhd. (“Inoco”)@ General merchandiser and other commodities of all kinds and descriptions and retailer Malaysia 100 100 MyAngkasa Ni Hsin Sdn. Bhd. (“MNH”)@ Distribution and marketing of cookware, kitchenware, water filters and related products and accessories Malaysia 70 70 Pentoli Sdn. Bhd. (“PSB”)@ Distribution and marketing of cookware, kitchenware, water filters and related products and accessories Malaysia 100 100 * Subsidiaries incorporated in Italy have not been audited as they are exempted from statutory audit under Italian Company Laws. They are consolidated based on unaudited management accounts for the year ended 31 December 2017. # Audited by KPMG @ Not audited by KPMG 5.2 Non-controlling interests in subsidiary The Group’s subsidiary that have material non-controlling interests (“NCI”) is as follows: MyAngkasa Ni Hsin 2017 2016 RM’000 RM’000 NCI percentage of ownership interest and voting interest 30% 30% Carrying amount of NCI (93) (75) Profit allocated to NCI (18) (105) Summarised financial information before intragroup elimination As at 31 December Non-current assets 2 3 Current assets 3 16 Current liabilities (315) (268) Net assets (310) (249) Notes to the financial statements (continued) Annual Report 2017 66