Hock Lian Seng Holdings Limited - Annual Report 2015 - page 69

Notes to the Financial Statements
31 December 2015
12. Investment in a joint operation
The Group has 50% (2014: 50%) interest in an unincorporated joint arrangement, GS Engineering & Construction
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arrangement as a joint operation and recognises in relation to its interest in the joint operation, its share of assets
held jointly and liabilities incurred jointly. The details of the joint operation as at 31 December 2015 and 2014 are
as follows:
* Audited by Ernst & Young LLP, Singapore
13. Investment in joint ventures
The Group’s investment in joint ventures is summarised below:
The Group has 50% (2014: 50%) interest in the ownership and voting rights in the joint ventures. The Group jointly
controls the ventures with other partners under contractual agreements which require unanimous consent for
all major decisions over the relevant activities. The details of the joint ventures as at 31 December are as follows:
* Audited by Ernst & Young LLP, Singapore
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Group
2015 2014
S$’000 S$’000
Bukit Timah Green Development Pte Ltd 5,265 –
HLE Management Pte Ltd ȫ 30
5,265 30
Name of partnership
Country of
incorporation
and place of
business Principal activities
Proportion (%)
of ownership
interest
2015 2014
GS Engineering & Construction –
Hock Lian Seng Infrastructure
Joint Venture *
Singapore Provision of civil engineering
and infrastructure works
50 50
Name of partnership
Country of
incorporation
and place of
business Principal activities
Proportion (%)
of ownership
interest
2015 2014
Bukit Timah Green Development
Pte Ltd *
Singapore Property development and
property related activities
50 50
HLE Management Pte Ltd * Singapore Management and operation
of student hostel
– # 50.01
ANNUAL REPORT 2015 67