245 / 284
FINANCIAL STATEMENTS
Axiata Group Berhad | Annual Report 2016
243
40. LIST OF SUBSIDIARIES (CONTINUED)
The Group had the following subsidiaries as at 31 December 2016: (continued)
Name of company
Ownership
interest
directly held
by the parent
Ownership
interest held
by the Group
Ownership
interest held
by NCI
Principal activities
Country
and place of
incorporation
(%)
(%)
(%)
Subsidiaries held through edotco
Investments (Labuan) Limited
edotco Towers (Bangladesh) Limited
-
100.00
-
Telecommunication
infrastructure and services
Bangladesh
edotco Services Lanka (Private)
Limited
2
-
100.00
-
Provision of end to end
Integrated Infrastructure
Services
Sri Lanka
edotco Investments Singapore Pte Ltd
(“edotco SG”) (formerly known as
Digicel Asian Holdings Pte Limited)
2
-
87.50
12.50
Investment holding
Singapore
Subsidiaries held through edotco
SG
Asian Towers Holdings Pte Limited
2
-
87.50
12.50
Investment holding
Singapore
edotco Myanmar Limited
2
-
87.50
12.50
Telecommunication
infrastructure and services
Myanmar
Subsidiary held through Axiata
Investments (UK) Limited
Reynolds Holdings Limited
-
100.00
-
Investment Holding
St Kitts and Nevis
Subsidiary held through Reynolds
Holdings Limited
Ncell Private Limited
3 and 9
-
80.00
20.00
Telecommunication services
Nepal
1
Audited by PricewaterhouseCoopers Malaysia.
2
Audited by member firms of PricewaterhouseCoopers International Limited which are a separate and independent legal entity from
PricewaterhouseCoopers Malaysia.
3
Audited by a firm other than a member firm of PricewaterhouseCoopers International Limited.
4
No audit is required as allowed by the laws of the perspective country in incorporation.
5
Inactive as at 31 December 2016.
6
In accordance with IC 112-Consolidation: “Special Purpose Vehicles”, AF is consolidated in the Group as the substance of the relationship
between the Company and the special purpose entity indicates that the entity is controlled by the Company.
7
AAP Hong Kong and MGMG Venture Co Ltd hold 255,200 ordinary shares and 382,800 preference shares respectively in the entity. One (1)
ordinary share is entitled to one (1) vote and one thousand (1,000) preference shares are entitled to one (1) vote. Accordingly AAP Hong Kong
maintains its control over the entity.
8
AAP Hong Kong is holding 3,125 ordinary shares in the entity and 9,375 ordinary shares via Trust Deed.
9
Ncell Private Limited has a financial year end in accordance with the calendar year of Nepal in every mid of July.