Notes to the financial statements
Year ended 31 March 2016
7 InterestS in subsidiaries (continued)
Name of subsidiary
Principal activity
Principal of
business
Effective equity
held by the Trust
2016
2015
%
%
(ii)
Indirect subsidiaries (continued)
Ascendas Longbeach
Sub-Trust No.6
^
Investment holding
Australia
100
–
Ascendas Longbeach
Sub-Trust No.7
^
Investment holding
Australia
100
–
Ascendas Longbeach
Sub-Trust No.8
^
Investment holding
Australia
100
–
Ascendas Longbeach
Sub-Trust No.9
^
Investment holding
Australia
100
–
Ascendas Longbeach
Sub-Trust No.10
^
Investment holding
Australia
100
–
Ascendas Longbeach
Sub-Trust No.11
^
Investment holding
Australia
100
–
#
Audited by KPMG LLP, Singapore.
^ Audited by a member firm of KPMG International.
@
Dissolved on 13 February 2016
During the financial year ended 31 March 2016, the Trust incorporated ARA. ARA owns all the paid in capital of ALT which
in turn owns all the paid in capital of the Ascendas Longbeach Trusts No. 1 to 8 and Ascendas Longbeach Sub-Trusts No.
1 to 11. ARA also owns all the paid in capital of ALT2, which in turns owns all the paid in capital in Ascendas Longbeach
Trusts No. 9.
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.
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. Emerald Assets was
dissolved on 13 February 2016.
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.
.173
A-REIT ANNUAL REPORT
2015/2016
