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Frontken Corporation Berhad (651020-T)
ANNUAL REPORT
2016
11. INVESTMENTS IN SUBSIDIARIES (CONT’D)
Details of the subsidiaries are as follows: (Cont’d)
Name of Subsidiaries
Principal Place
of Business
Percentage of Issued
Share Capital Held
by Parent
Principal Activities
2016
2015
%
%
Subsidiaries of FSPL (cont’d)
Frontken Projects Pte. Ltd.
(“FPPL”)
1
Singapore
100
100 General contractors and process and individual
plant engineering services.
Frontken Philippines Inc
1
Philippines 99.99 99.99 Provision of surface metamorphosis technology
using thermal spray coating processes and a
series of complementary processes including
mechanical and chemical engineering works.
Subsidiary of FTC
Ares Green Technology
Corporation (“AGTC”)
1
Taiwan
-
23.11 Provision of surface treatment and advanced
precision cleaning for the TFT - LCD (Thin
Film Transistor - Liquid Crystal display) and
semi-conductor industries.
Subsidiary of AGTC
Ares Green International
Corporation (“AGIC”)
1
Samoa
100
100 Investment holding.
1
The financial statements of the subsidiaries are audited by auditors other than the auditors of the Company.
2
The financial statements of the subsidiaries are audited by Messrs. Crowe Horwath.
3
TTES is considered a subsidiary of the Group as the Group has control over the operating and management
policies of this subsidiary via the board of directors appointed by the Group.
The non-controlling interests at the end of the reporting period comprise the following:-
Effective Equity Interest
The Group
2016
2015
2016
2015
%
%
RM
RM
AGTC
26.78
35.62
31,438,211
33,395,587
TTES
55
55
4,298,315
3,641,135
Other individually immaterial subsidiaries
(1,937,387)
(2,352,866)
33,799,139
34,683,856
Notes To The Financial Statements
(cont’d)