24
MIGHT Directors’ Report And Audited Financial Statements 2020
5. INVESTMENTS IN SUBSIDIARIES (continued)
Investments in subsidiaries, which are eliminated on consolidation, are stated in the separate financial statements of the Company at cost less accumulated impairment losses.
(a)
All components of non-controlling interests shall be measured at their acquisition-date fair values, unless another measurement basis is required by MFRSs. Subsequent to initial recognition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity.
The recoverable amount of the investments in subsidiaries is assessed by reference to the higher of the fair values less cost to sell and value in use of the subsidiary.
Estimating a value in use requires management to make an estimate of the expected future cashflows to be derived from continuing use of the asset and form its ultimate disposal, expectations about possible variations in the amount, timing of those cash flows, the time value of money, price for inherent uncertainty risk and others relevant factors.
Details of the subsidiaries are as follows: (b)
INTEREST IN EQUITY HELD BY
NAME OF COMPANY
COUNTRY OF INCORPORATION
PRINCIPAL ACTIVITIES
COMPANY
SUBSIDIARY
2020
2019
2020
2019
To promote the creation, growth and expansion of technology-based companies that are globally competitive To invest and nurture start-up and growth stage companies in biotechnology and bio industry
MIGHT Technology Nurturing Sdn. Bhd.
Malaysia
100%
100%
-
-
VentureTECH Sdn. Bhd.
-
Malaysia
100%
100%
-
Subsidiaries of MIGHT Technology Nurturing Sdn. Bhd.
Providing training and education programmes on advanced manufacturing technology
MIGHT-Meteor Advanced Manufacturing Sdn. Bhd
Malaysia
-
-
100% 100%
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