Excel Force MSC Berhad Annual Report 2015

NOTES TO THE FINANCIAL STATEMENTS 31 December 2015 (cont’d) E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 77 11. INVESTMENTS IN SUBSIDIARIES Company 2015 2014 RM RM Unquoted shares - At cost 556,000 556,000 Less: Accumulated impairment losses (120,000) (120,000) 436,000 436,000 (a) The details of the subsidiaries are as follows: Country of Effective interest in equity held by Company Name of Company incorporation 2015 2014 Principal activities Insage (MSC) Sdn. Bhd.* Malaysia 60% 60% Provision of software solutions. Capital Market Risk Advisor Sdn. Bhd.* Malaysia 52% 52% Development and provision of software application. Winvest Global Sdn. Bhd. * Malaysia 51% 51% Provision of share investment solutions. * Subsidiary audited by BDO (b) In the previous financial year, on 3 November 2014, the Company acquired fifty one percent (51%) equity interest comprising 306,000 ordinary shares of RM1.00 each of the issued and paid up ordinary share capital of Winvest Global Sdn. Bhd. (‘Winvest’) for a cash consideration of RM306,000. Winvest is a company incorporated in Malaysia which is engaged in research, development and commercialisation of share investment solution and provision of investment education and training services to investors. (c) The subsidiaries of the Group that have material non-controlling interests (‘NCI’) are as follows: Insage Capital Market Winvest (MSC) Sdn. Bhd. Risk Advisor Sdn. Bhd. Global Sdn. Bhd. Total 2015 NCI percentage of ownership interest and voting interest 40% 48% 49% Carrying amount of NCI (RM) (82,375) 340,780 247,942 506,347 Profit/(Loss) allocated to NCI (RM) 9,422 102,266 (95,987) 15,701 2014 NCI percentage of ownership interest and voting interest 40% 48% 49% Carrying amount of NCI (RM) (91,797) 238,514 343,929 490,646 Profit allocated to NCI (RM) 42,557 92,115 81,181 215,853