. 113
ANNUAL
REPORT
20 1 7
THE BE ST
I N US
NOTESTOTHE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
12.
INVESTMENT INSUBSIDIARIES (CONT’D)
Subsidiaries
(Countryof incorporation)
Principal activities
(Placeof business)
Percentageof equity
heldby theGroup
2017
2016
%
%
Held throughBT Investment Pte. Ltd.:
(1)
BTTitaniumPte. Ltd.
(Singapore)
Provisionof offshoremarine logistics
support services (Singapore)
100
100
Held throughBTTitaniumPte. Ltd.
(2)
BTOffshore (Malaysia) Pte Ltd
(Malaysia)
Incorporatedon30 June2017
Provisionof offshoremarine logistic
support services (Malaysia)
100
–
(1)
Auditedby Ernst &Young LLP, Singapore
(2)
Not due for audit in the year of incorporation
13.
INVESTMENTSECURITIES
GroupandCompany
2017
2016
$’000
$’000
Non-current:
Available-for-sale financial assets
–Corporatebonds (quoted) at fair value
1,062
2,293
–Equity securities (unquoted) at cost
1,326
1,024
2,388
3,317
Current:
Available-for-sale financial assets
–Corporatebonds (quoted) at fair value
1,068
3,218
TheGroup andCompany’s investment inquoted corporatebonds aredenominated in SGD andUSD. They
bear interest at between 2.500% to 4.625% (2015: 2.500% to 4.625%) p.a. andwithmaturities ranging from
January 2017 toMarch2020.
The Group and Company’s unquoted equity securities relates to a minority stake in an investment fund
company, whichwas incorporated in Luxembourg. Fair value information has not been disclosed because
fair value cannot bemeasured reliably. These equity instruments are not quotedon anymarket anddonot
have any comparable industrypeer that is listed.
