N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
Year ended 31 March 2015
9 Interest in subsidiaries (continued)
In August 2014, the Trust acquired 100% equity interest in PLC8H and incorporated AJW. PLC8H owns all the paid in capital
of PLC8D and AJW owns all the paid in capital of AJFC.
In the previous financial year, the Trust acquired 100% equity interest in SHJQ. SHJQ owns all the paid in capital of ASRC,
which in turn, owns the investment property, Jinqiao.
The Group does not hold any ownership interests in Ruby Assets and Emerald Assets. However, based on the terms of the
agreements under which these entities were established, the Group has the ability to direct the activities of these entities
for the benefit of the Group. Accordingly, both entities were consolidated by the Group.
The loans to subsidiaries are interest-free and unsecured. The settlement of the amounts is neither planned nor likely to
occur in the foreseeable future. As the amounts are, in substance, a part of the Trust’s net investment in the subsidiaries,
they are stated at cost less accumulated impairment losses.
10 Other assets
As at 31 March 2015, other assets relate to the deposit paid by AJFC for land acquisition for the development of a logistics
facility in Jiashan, PRC.
In the previous financial year, refundable deposits amounting to $36,040,000 was offset against the total consideration
paid for the Trust’s acquisition of SHJQ in July 2013.
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
