Annual Report
2015
|
DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
101
7.
Investment in associates (cont’d)
Details of the associates are as follows:
Effective ownership
interest and voting interest
Principal
Country of
2015
2014
Name of Company
activities
incorporation
%
%
Alpha Dayang (B)
Dormant
Brunei
50
50
Sdn. Bhd.*
Perdana Petroleum
Investment
Malaysia
-
28.61
Berhad**
holding
*
The associate is presently dormant and has not made up its management accounts to date. A
company incorporated in Brunei need not submit audited financial statements during the period
of dormancy. As a consequence, the financial information on the associate is not presented. The
Company had applied voluntary winding up and is deemed dissolve on 29 February 2016.
** During the year, the Company has acquired additional 33,523,700 ordinary shares of RM0.50
in Perdana Petroleum Berhad (“PPB”) from open market. This action has subsequently triggers a
mandatory general offer as threshold of 33% has been reached. Pursuant to Section 218(2) of the
Capital Markets and Services Act, 2007 (“CMSA”) and Section 9(1)(a), Part III of the Malaysian Code
on Take-Overs and Mergers, 2010 (“Code”). See Note 6 for details.
The following table summarises carrying amount of the Group’s interest in the former associates.
Other
Perdana individually
Petroleum immaterial
Group
Berhad associate
Total
2015
RM
RM
RM
Reconciliation of net assets to carrying amount
Group’s share of net assets
-
2
2
Carrying amount in the statement
of financial position
-
2
2
Group’s share of results Year ended 24 July
Group’s share of loss for the year
(6,270,000)
-
(6,270,000)
Group’s share of other comprehensive income
16,290,000
-
16,290,000
Group’s share of total comprehensive income
10,020,000
-
10,020,000
Notes to the
Financial Statements
(cont’d)
