99
11. ASSOCIATES (cont’d)
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
2013
2012
%
%
Associates of AlphaPlus Investments Pte Ltd
SMRT Alpha Pte. Ltd.
(8)
Singapore
30.0
-
Real estate management
(1)
Audited by Deloitte & Touche LLP, Singapore.
(2)
Audited by KPMG LLP, Singapore.
(3)
Audited by Pricewaterhousecoopers LLP, Singapore.
(4)
Audited by Ernst and Young LLP, Singapore.
(5)
Company is under members’ voluntary liquidation.
(6)
The Co-operative has a joint arrangement involving Singapore Press Holdings (“SPH”) and NTUC Income Insurance
Co-operative (“NTUC Income”) to fit-out and manage a mall being developed in Clementi Town Centre by the Housing
& Development Board. The Co-operative has 20% share in the project via an investment of $30 million in SG
Domain Pte Ltd.
The financial statements of SG Domain Pte Ltd are made up to August 31, each year. For the purpose of applying
the equity method of accounting, the management accounts of SG Domain Pte Ltd for the period ended
March 31, 2013 have been used with appropriate adjustments made by management after taking
into consideration the audit adjustments made for the financial year ended August 31, 2012 and significant
transactions between August 31, 2012 and March 31, 2013.
(7)
In 2012, the Co-operative has injected $18.3 million in Mercatus Co-operative Limited (“Mercatus”) representing
18,300,000 shares at an issue price of $1.00 per share in Mercatus (refer to Note 12).
(8)
During the financial year, AlphaPlus Investments Pte Ltd, a subsidiary of the Co-operative, has a joint arrangement
with SMRT Investments Pte Ltd for the tendering of bid to Singapore Sports Hub Pte Ltd for the development and
management of the commercial and retail area in the new Singapore Sports Hub. AlphaPlus Investments Pte Ltd
has 30% share in the project via an investment of $0.45 million in SMRT Alpha Pte. Ltd.
Country of
Proportion
incorporation
of ownership
and
interest and voting
Name of company
operation
power held
Principal activities
