NOTES TO
THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2015
98
GKE CORPORATION LIMITED
ANNUAL REPORT 2015
14.
INVESTMENTS IN SUBSIDIARIES
Company
2015
2014
$’000
$’000
Shares, at cost
At 1 June
52,666
44,512
Increase in investment
–
8,154
At 31 May
52,666
52,666
Less: Impairment losses
(6,668)
(2,478)
45,998
50,188
Movement in allowance for impairment during the financial year is as follows:
At 1 June
2,478
1,603
Allowance for the year
4,190
875
At 31 May
6,668
2,478
Name of subsidiaries
(Country of incorporation and
principal place of business)
Principal activities
Effective percentage
of equity held
by Group
2015
2014
%
%
Held by the Company
GKE Private Limited
i
(Singapore)
Provision of warehousing
services and trading business
100
100
GKE Warehousing & Logistics Pte Ltd
i
(Singapore)
Provision of warehousing,
packing and transportation
services
100
100
GKE Express Logistics Pte Ltd
i
(Singapore)
Provision of freight forwarding,
transportation, warehousing
and logistics services
100
100
GKE Freight Pte Ltd
i
(Singapore)
Provision of freight forwarding
and transportation services
100
100
