Excel Force MSC Berhad Annual Report 2016

EXCEL FORCE MSC BERHAD ANNUAL REPORT 2016 78 Notes to the Financial Statements 31 December 2016 (cont’d) 10. OTHER INTANGIBLE ASSETS Group and Company 2016 2015 RM RM Cost 1,010,000 1,010,000 Accumulated amortisation At beginning of financial year (1,010,000) (1,010,000) Charge for the financial year - - At end of financial year (1,010,000) (1,010,000) Carrying amount - - Intangible assets consist of trademarks and copyrights which had been fully amortised in financial year 2013. 11. INVESTMENTS IN SUBSIDIARIES Company 2016 2015 RM RM Unquoted shares - At cost 120,000 556,000 Less: Accumulated impairment losses (120,000) (120,000) - 436,000 (a) The details of the subsidiaries are as follows: Country of Effective interest in equity held by Company Name of Company incorporation 2016 2015 Principal activities Insage (MSC) Sdn. Bhd.* Malaysia 60% 60% Provision of software solutions. Capital Market Risk Advisor Sdn. Bhd. (‘CMRA’) Malaysia - 52% Development and provision of software application. Winvest Global Sdn. Bhd. (‘Winvest’) Malaysia - 51% Provision of share investment solutions. * Subsidiary audited by BDO (b) Disposal of subsidiaries On 31 May 2016, the Group disposed the entire shareholdings of 130,000 ordinary shares of RM1.00 each in CMRA, a 52% owned subsidiary of the Company for a cash consideration of RM416,000. On 15 September 2016, the Group disposed the entire shareholding of 360,000 ordinary shares of RM1.00 each in Winvest, a 51% owned subsidiary of the Company for a cash consideration of RM66,738.