111
/ MTQ CORPORATION LIMITED /
ANNUAL REPORT
2014/2015
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2015
(In Singapore dollars)
29. SUBSIDIARIES (CONT’D)
Name of company
(Country of incorporation)
Principal activities
(Place of business)
Effective interest
in equity held by
the Group
2015
%
2014
%
ii,v Neptune Subsea Services
Sdn Bhd
(Malaysia)
Providing a range of subsea inspection, repair and
maintenance works (Malaysia)
87.1 86.8
i,v Neptune ROV Services Pte Ltd
(Republic of Singapore)
Inactive (Republic of Singapore)
87.1 86.8
ii,v Submersible Technology
Services Sdn Bhd
(Malaysia)
Inactive (Malaysia)
87.1 86.8
ii,v Neptune Marine Subsea
Services Sdn Bhd
(Brunei)
Providing a range of underwater and subsea works
including diving, remotely operated vehicle services,
underwater inspection, maintenance and repair
services, and supply of subsea stabilisation products
and services to the offshore industry (Brunei)
87.1 86.8
v Binder Group Pty Ltd
(Australia)
Design and manufacturing of proprietary and
custom-built pipe support and pipe suspension
solutions (Australia)
100 100
iii
Binder Engineering (VIC)
Pty Ltd (Australia)
Inactive (Australia)
100 100
iii
Binder Engineering (QLD)
Pty Ltd (Australia)
Inactive (Australia)
100 100
iii
Binder Engineering (NSW)
Pty Ltd (Australia)
Inactive (Australia)
100 100
vi
Binder Asia Pte Ltd
(Singapore)
Trading of proprietary and custom-built pipe support
and pipe suspension solutions (Singapore)
100 100
iii
Binder Holdings Pte Ltd
(Singapore)
Inactive (Singapore)
100 100
i
Audited by Ernst & Young LLP, Singapore
ii
Audited by member firms of Ernst & Young Global in their respective countries
iii Not required to be audited under the law in its country of incorporation
iv Audited by Thong & Lim Consultants Pte Ltd
v Subsidiaries, which are part of Neptune Group, that have material non-controlling interest (“NCI”) as an aggregate. Total
profit or loss allocated to NCI of Neptune Group during the year was $453,000 (2014: $772,000). Accumulated NCI of
Neptune Group as at 31 March 2015 was $9,390,000 (2014: $9,655,000). No dividend has been paid to NCI during the
years ended 31 March 2015 and 2014
The cost of investments in each of these subsidiaries is less than $1,000
Unquoted equity shares held by the subsidiaries (Cont’d)
