68
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
NOTES
TO THE FINANCIAL STATEMENTS
Year ended 30 June 2016
8 INVESTMENTS INASSOCIATES
Group
2016
2015
$
$
Investments in associates
167,279 167,279
Impairment loss
(167,279)
(53,625)
– 113,654
The Group’s investments in associates are as follows:
STS Seanly Marine Sdn
Bhd
(a)
ECG Affirm Holdings
Sdn. Bhd.
(a)
Nature of relationship with the
Group
Supply of marine and
engineering services
and trading in related
marine and engineering
hardware and
accessories
Provision of real estate
agency services
Principal place of business/
Country of incorporation
Malaysia
Malaysia
Ownership interest/Voting
rights held
49% (2015: 49%)
35% (2015: 35%)
(a)
Not audited as it is not material.
Immaterial associates
The following table summarises, in aggregate, the carrying amount and share of loss
and other comprehensive income of these associates that are accounted for using the
equity method.
8 INVESTMENTS INASSOCIATES (CONT’D)
Group
2016
2015
$
$
Carrying amount of interests in immaterial associates
– 113,654
Group’s share of:
- Loss from continuing operations
–
(51,212)
- Other comprehensive income
–
–
- Total comprehensive income
–
(51,212)
9 INVENTORIES
Group
2016
2015
$
$
Goods held for resale
- At cost
21,686,781 23,374,959
- At net realisable value
317,064 108,370
22,057,845 23,483,329
Inventories are stated after allowance for inventory obsolescence.
The change in allowance for inventory obsolescence during the year is as follows:
Group
2016
2015
$
$
At beginning of the year
362,205
189,617
Addition
202,183 172,588
At end of the year
564,388 362,205
