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LAPORAN TAHUNAN 2005 ANNUAL REPORT

Name of

Country of

2005

2004

company

incorporation

%

%

Effective interest

5.

SUBSIDIARY COMPANIES (CONTD.)

Principal activities

Nanyang Gallery of Art Sdn. Bhd.

Malaysia

100

100

Non-operating

Nanyang.com Sdn. Bhd.

Malaysia

100

100

Non-operating

Capital Foremost Sdn. Bhd.

Malaysia

100

100

Non-operating

Redhot Media Sdn. Bhd.

Malaysia

-

100

Provision of internet related and electronic commerce services and advertising broker

Liquidation of a subsidiary On 29 November 2004, a subsidiary, The Voice Publication Sdn. Bhd. was liquidated. The effect of the liquidation on the financial results and financial position of the Group is immaterial.

Disposal of a subsidiary

RM’000

Proceeds in the form of investment in associates

2,000

Less: Net Assets Disposed Plant and equipment Inventories Trade receivables Other receivables Cash and bank balances Trade payables Other payables and accruals

189 3 722 7 83 ( 144 ) ( 1,242 )

( 382 )

Total gain on disposal Unrealised gain on disposal Gain on disposal

2,382 953 1,429

Disposal of a subsidiary, net of cash disposed Net cash outflow arising from disposal of a subsidiary

( 83 )

59

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