TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
78
Notes to the financial statements
For the financial year ended 31 March 2016
18.
Associates (cont’d)
Details of the associates of the Group are set out below:
Name of associate
Country of
incorporation/
operation
Principal activities
Proportion of equity
held by the Group
2016
2015
% %
Held by Tung Lok (China) Holdings Pte Ltd
Shanghai Jinjiang Tung Lok Catering
Management Inc
(1)
People’s Republic
of China
Restaurateur
49
49
Beijing Xihe Tung Lok Restaurant Company
Ltd
(1)
People’s Republic
of China
Restaurateur
40
40
Held by TLG Asia Pte Ltd
Singapore Seafood Republic Pte Ltd
(“SSRPL”)
(1)
Singapore
Restaurateur
25
25
Seafood Republic Pte Ltd (“SRPL”)
(1)
Singapore
Restaurateur
20
20
(1)
Not audited as these associates are not significant to the Group.
Aggregate information about the Group’s investments in associates that are not individually material are as follows:
Group
2016
2015
$
$
Profit after tax representing total comprehensive income
539,550
564,933
The audited financial statements of SSRPL and SRPL are made up to 30 September each year. For the purpose of
applying the equity method of accounting, the unaudited management accounts of SSRPL and SRPL for the years
ended 31 March 2016 and 2015 have been used.
19.
Available-for-sale investments
The available-for-sale investments consist of unquoted equity investments in Singapore Culinary Institute Pte. Ltd. and
Grand Pavilion Restaurant (2013) Pte. Ltd., incorporated in the Republic of Singapore; and PT Taipan Indonesia and PT
Ming Cipta Rasa, incorporated in Indonesia. These companies are engaged in restaurateur activities.
The unquoted equity shares are stated at cost less any impairment loss at the end of the reporting period as the fair
value of the unquoted equity shares cannot be reliably measured.
