Malaysia legislation
Section 14
of Mengikut peraturan Bilangan 34 Peraturan-Peraturan Tanah Tahun 1966, adalah
Seksyen 14
INVESTMENTS IN SUBSIDIARY COMPANIES
The Company 2005 2004
Unquoted shares in subsidiary companies
– At cost 18,548,000 18,548,000
– At directors’ valuation in 1996 10,030,027 10,030,027 28,578,027 28,578,027
Less: Allowance for diminution in value
(1,500,000)
—
27,078,027 28,578,027
The subsidiary companies (all incorporated in Malaysia) are as follows:
Effective Equity
Interest
Name of Company 2005 2004
Principal Activities
Pembinaan Prefab Sdn.
100%
100%
Construction of houses
Bhd.
and manufacturer of ready mixed concrete*
Johor Land Manufacturing 75%
75%
Manufacturer of metal
Sdn. Bhd.
door frames and trading of building materials
Advance Development 100%
100%
Property developer
Sdn. Bhd.
1668
[22hb Jun 2006
* In 1998 and 1999, the subsidiary company ceased to be involved in the construction of houses and manufacturing and selling of ready mixed concrete respectively. In 2003, the company entered into a conditional agreement with a related company to develop houses for a total cash consideration of RM856,079. The subsidiary company has yet to com-mence the development activity during the financial year.