NOTES
TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2016
(In Singapore dollars)
113
MTQ CORPORATION LIMITED
29. SUBSIDIARIES (CONT’D)
a) The subsidiaries as at 31 March are: (cont’d)
Name of company
(Country of incorporation)
Principal activities
(Place of business)
Effective interest
in equity held by
the Group
2016
%
2015
%
Unquoted equity shares held by the subsidiaries (cont’d)
iii
Binder Engineering (NSW)
Pty Ltd
(Australia)
Inactive (Australia)
100 100
i
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 Subsidiaries, which are part of Neptune Group, that have material non-controlling interest (“NCI”) as an aggregate. Total loss
allocated to NCI of Neptune Group during the year was $914,000 (2015: profit of $453,000). Accumulated NCI of Neptune
Group as at 31 March 2016 was $7,710,000 (2015: $9,390,000). During the year $653,000 (2015: $Nil) of dividends were paid
by Neptune to NCI.
The cost of investments in each of these subsidiaries is less than $1,000
