Asia-Pacific Strategic Investments Limited - Annual Report 2021

Notes to the Financial Statements For the financial year ended 30 June 2021

18

Investments in subsidiary corporations (continued)

Effect of dilution in non-controlling interests

During the financial year ended 30 June 2021, the Company invested an additional RMB10.0 million (equivalent to approximately S$2,080,000) in the registered and issued share capital of the Grand Canal Group. Following the additional investment, the equity interests of the Company in Grand Canal Group has increased from 72.0% to 76.7% and the remaining equity interests are held by 中房联合置业集团有限公司 . The effect of changes in the shareholding of the Group in Grand Canal Group is summarised as follows: 2021 S$’000

Additional investment

2,080

485

Additional share capital shared by non-controlling interests at 23.3% Less: Carrying amount of non-controlling interests in relation to dilution of interest

(294)

191

Effect of dilution of interest in non-controlling interests

(13)

Currency translation differences (Note 26)

178

Excess of consideration paid recognised in parent’s equity

Expect for the above, there were no material transactions with non-controlling interests for the financial years ended 30 June 2021 and 2020.

19

Property, plant and equipment

Office equipment, furniture and fittings

Leasehold land and buildings Renovation

Vehicles and equipment

Total

S$’000

S$’000

S$’000

S$’000

S$’000

Group 2021 Cost Beginning of financial year

27,113

1,460

540

2,209

31,322

Additions

4

-

7

154 117

165

Currency translation differences

1,532

83

18

1,750

End of financial year

28,649

1,543

565

2,480

33,237

Accumulated depreciation Beginning of financial year Depreciation charge (Note 5) Currency translation differences

816

166 151

267

293 307

1,542 1,589

1,040

91

42

14

7

16

79

End of financial year

1,898

331

365

616

3,210

Net book value End of financial year

26,751

1,212

200

1,864

30,027

ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED

92