20 INVESTMENTS IN SUBSIDIARIES (CONTINUED)
The following are subsidiaries of the Company: (continued)
Name of company
Country of
incorporation
Group’s effective
interest
Principal activities
2015
%
2014
%
Subsidiaries of
Jeta Gardens (Qld) Pty Ltd
Jeta Gardens Aged Care
(Qld) Pty Ltd*
Australia
100 100 Operates and manages an aged care
facility
Jeta Gardens Management
(Qld) Pty Ltd*
Australia
100 100 Providing management to an aged care
facility
#
Direct equity holding by the Company is 84% (2014: 84%)
+
Direct equity holding by the Company is 14% (2014: 14%)
* Audited by firms other than PricewaterhouseCoopers, Malaysia
(a) On 22 December 2014, Kumpulan Perubatan (Johor) Sdn Bhd ("KPJSB"), a wholly-owned subsidiary of the Company,
acquired a 75% equity interest in Pride Outlet Sdn Bhd for a total cash consideration of RM74,998. The acquisition was
completed on 1 January 2015. The impact of the acquisition was immaterial.
(b) On 31 March 2015, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of the Company,
acquired 100% equity interest in Crossborder Hall (M) Sdn Bhd and Crossborder Aim (M) Sdn Bhd for a total cash
consideration of RM5.2 million. Both Crossborder Hall (M) Sdn Bhd and Crossborder Aim (M) Sdn Bhd owned 50% share
each of PT Al-‘Aqar PH and PT Al-‘Aqar BSD (collectively, “Crossborder Group”). The acquisition was completed on
16 December 2015.
(c) On 1 December 2015, Kumpulan Perubatan (Johor) Sdn Bhd ("KPJSB"), a wholly-owned subsidiary of the Company,
acquired the remaining non-controlling interest of Kuantan Specialist Hospital Sdn Bhd for a purchase consideration of
RM7.8 million.
The effect of the Crossborder Group acquisitions on the financial results of the Group was immaterial.
Had the acquisition took effect at the beginning of the financial year, the revenue and loss of the Group would have
increased by RM7.6 million and RM1.7 million respectively. These amounts have been calculated using Group’s accounting
policies and by adjusting the results of the subsidiaries to reflect the additional depreciation and amortisation that would
have been charged assuming the fair value adjustments to property, plant and equipment had applied from 1 January 2015,
together with the consequential tax effect.
The net assets recognised in the 31 December 2015 financial statements were based on provisional assessments of fair
value.
291
KPJ Healthcare Berhad
Annual Report
2015
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONTINUED)
