100
100
SINGAPORE SHIPPING CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
13. ASSOCIATED COMPANY AND JOINT VENTURE
The Group
The Company
2016
US$’000
2015
US$’000
2016
US$’000
2015
US$’000
Investment in associated company
2,871
2,991
*
*
Investment in joint venture
1,129
1,119
1,208
1,208
4,000
4,110
1,208
1,208
* Less than US$1,000
Impairment assessment on associated company and joint venture
Investment in associated company and joint venture is tested for impairment when the associated
company and joint venture are in a net liabilities position or has suffered continual operating losses or
has any other known impairment indicators. This test requires significant judgement.
Based on the assessment, no impairment has been recognised on the Company’s investment in
associated company and joint venture as at 31 March 2016 and 31 March 2015.
Details of the associated company and joint venture are as follows:
Name of associated company and
joint venture
Country of
incorporation
Effective equity
held by
the Group
2016
%
2015
%
MOB Cougar Pte Ltd
(a)
Singapore
30
30
Hai Poh Terminals Pte Ltd
(b)
Singapore
50
50
(a)
Associated company, audited by KPMG LLP
(b)
Joint venture, audited by UHY Lee Seng Chan & Co.
