NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
102
CITIC ENVIROTECH LTD.
Annual Report
2015
13 SUBSIDIARIES (cont’d)
*
Subsidiary is 60% held by Novo Envirotech (Guangzhou) Co. Ltd. and 40% held by the Company.
**
The Group has two of out of three board representation in the subsidiary which gives it the ability to direct relevant
activities based on simple majority votes.
#
Incorporated during the financial year.
@
Acquired during the financial year.
@@
The effective interest and voting power are 50% and 67% respectively.
Notes on auditors:
(a)
Audited by overseas practices of Deloitte Touche Tohmatsu Limited for Group’s consolidation purposes.
(b)
Audited by Deloitte & Touche LLP, Singapore.
(c)
Not material for Group’s consolidation purposes.
Information about the composition of the Group at the end of the financial year is as follows:
Principal activity
Place of incorporation
and operation
Number of wholly-owned
subsidiaries
December
March
31, 2015
31, 2015
Environmental engineering
PRC
3
3
Investment holding company
Malaysia
1
1
Investment holding company
Singapore
2
2
Investment holding company
Hong Kong
3
3
Manage and operate industrial waste water
treatment plant
PRC
2
1
Operation of water treatment plant
PRC
22
14
