142 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
6
SUBSIDIARIES
(cont’d)
(b) The signimcant subsidiaries directly and indirectly held by the Company, which are incorporated and
conducting business in the Republic of Singapore, are as set out below
Effective interest
Name of Company
2014
%
2013
%
CapitaLand China Holdings Pte Ltd
1
100
100
CapitaLand Regional Investments Limited
100
100
CapitaLand Residential Limited
100
100
CapitaLand Singapore Limited
100
100
CapitaLand Treasury Limited
100
100
CapitaMalls Asia Limited
100
2
65.4
Sound Investment Holdings Pte Ltd
100
–
The Ascott Limited
100
100
All the above subsidiaries are audited by KPMG LLP Singapore.
1
Indirectly held through CapitaLand Residential Limited.
2
Includes 34.7% interest indirectly held through Sound Investment Holdings Pte Ltd.
(c) The following subsidiaries of the Group have material non-controlling interests (NCI)
Effective interest
held by NCI
Name of Company
Principal place of business
2014
%
2013
%
CapitaCommercial Trust
1
Singapore
68.3
67.9
Ascott Residence Trust
2
Asia Pacimc and Europe
54.2
54.7
CapitaMalls Asia Limited
Singapore and China
–
3
34.6
All the above subsidiaries are audited by KPMG LLP Singapore.
1
Indirectly held through CapitaLand Singapore Limited.
2
Indirectly held through The Ascott Limited.
3
CapitaMalls Asia Limited has become a 100% owned subsidiary during the year.
Although the Group owns less than half of the ownership interest and voting power of ART and CCT,
management has determined that the Group has control over these investees as the Group has ability to
direct the activities of these investees that signimcantly affect the Group’s overall exposure to variable return
in these investees (note 2.1(a)(i)).
