/ 1 3 0
NOTES TO THE FINANCIAL STATEMENTS
C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
5.
Investment in subsidiaries
Trust
2015
2014
$’000
$’000
Unquoted equity investment, at cost
25,206
–*
* Investment in subsidiary, Cambridge-MTN Pte. Ltd., being $1, established in February 2012.
Details of the subsidiaries are as follows:
Country of
Effective equity
interest held by
the Group
Name of subsidiary
Principal activities
incorporation
2015
2014
%
%
Cambridge-MTN Pte. Ltd.
Provision of financial
and treasury services
Singapore
100
100
Cambridge SPV1 LLP
Investment, management,
leasing and redevelopment of
properties
Singapore
100
–
+
Cambridge SPV2 Pte. Ltd.
Investment holding
Singapore
100
–
All the subsidiaries are audited by KPMG LLP in Singapore.
+
Cambridge SPV1 LLP was a jointly-controlled entity in FY2014, with the Trust holding an equity interest of 60%. See Note 6.
6.
Investment in jointly-controlled entity
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Unquoted equity investment
–
16,327
–
3,078
The jointly-controlled entity held a leasehold property at 3 Tuas South Avenue 4 which it acquired in March 2013.
This property, which is fully leased, is a 30-year leasehold interest commencing on 1 May 1999 with an option for
a 30-year extension.
The jointly-controlled entity became a wholly owned subsidiary upon the Trust’s acquisition of the remaining 40%
partnership interests in Cambridge SPV1 LLP in March 2015 (See Note 22 for more details).
