287 MISC BERHAD Annual Report 2015 39. Joint arrangements and activities (cont’d.) (a) Joint ventures and activities (cont’d.) Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2015 2014 Malaysia Deepwater Production Contractors Sdn. Bhd. **** Malaysia Operating and maintaining FPSO terminals 51 51 *** Even though the Group holds less than 50% equity interest in these companies, all material operational and financial matters require unanimous consent of the joint venture parties. **** Even though the Group holds more than 50% equity interest in these companies, all material operational and financial matters require unanimous consent of the joint venture parties. The financial statements of the above joint ventures are coterminous with those of the Group, except for these joint ventures: Financial year end Centralised Terminals Sdn. Bhd. 30 June Langsat Terminal (One) Sdn. Bhd. 30 June Langsat Terminal (Two) Sdn. Bhd. 30 June Langsat Terminal (Three) Sdn. Bhd. 30 June For the above entities, the audited financial statements up to the financial year ended 30 June 2015 and management accounts up to 31 December 2015 have been used to apply the equity method of accounting.
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