110 / 152
Notes to the
financial statements
For the financial year ended 31 December 2018
108
B A K E R T E C H N O L O G Y
L I M I T E D
12.
Investment in subsidiaries
Company
31.12.2018
31.12.2017
1.1.2017
$’000
$’000 $’000
Shares, at cost
30,000
30,000 30,000
Impairment loss
(7,200)
(7,200)
(7,200)
22,800
22,800 22,800
(a)
Composition of the Group
The subsidiaries for the financial year ended 31 December are:-
Subsidiaries
(Country of incorporation)
Principal activities
(Place of business)
Percentage of equity
held by the Group
31.12.2018
31.12.2017 1.1.2017
%
% %
(1)
Sea Deep Shipyard Pte. Ltd.
(Singapore)
Manufacturer
and provider of
specialised marine
offshore equipment
and services for the
oil and gas industry
(Singapore)
100
100 100
(1)
Baker Engineering Pte. Ltd.
(Singapore)
Design and fabrication
of offshore and marine
equipment (Singapore)
100
100 100
(1)
BT Investment Pte. Ltd.
(Singapore)
Investment holding
(Singapore)
100
100 100
Held through Sea Deep Shipyard Pte. Ltd.:
(1)
Sea Hercules Cranes Pte. Ltd
(formerly known as Interseas
Shipping (Private) Limited)
(Singapore)
Manufacturer
and provider of
specialised marine
offshore equipment
and services for the
oil and gas industry
(Singapore)
100
100 100