Singapore Airlines 2014 Annual Report Download - page 167

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165
ANNUAL REPORT FY2013/14
23 Subsidiary Companies (in $ million) (continued)
During the financial year:
1. SIAEC invested an additional of $0.5 million and $3.4 million in NexGen Network (1) Holding Pte Ltd (“NGN1”) and
NexGen Network (2) Holding Pte Ltd (“NGN2”) respectively, in accordance to the agreement.
2. The Company completed the liquidation of SIA Properties (Pte) Ltd (“SIAP”).
3. The Company extended two unsecured loans to a subsidiary company that are due for repayment one year from
the date of drawdown. Interest on these loans are computed using SGD Swap-offer rates plus an agreed margin. The
loans are denominated in SGD and interest rates ranged from 1.38% to 1.40% per annum. Net carrying amount of
the loans approximate the fair value as interest rates implicit in the loans approximate market interest rate.
(a) Composition of the Group
The subsidiary companies at 31 March are:
Percentage of
Country of equity held by
incorporation and the Group
Principal activities place of business 2014 2013
SIA Engineering Company Limited Engineering services Singapore 78.0 78.6
Aircraft Maintenance Services Provide aircraft maintenance services, Australia 78.0 78.6
Australia Pty Ltd(1)* including technical and non-technical
handling at the airport
NexGen Network (1) Holding Pte Ltd(1) Investment holding Singapore 78.0 78.6
NexGen Network (2) Holding Pte Ltd(1) Investment holding - do - 78.0 78.6
SIA Engineering (USA), Inc.@(1) Provide aircraft maintenance services, United States 78.0 78.6
including technical and non-technical of America
handling at the airport
SIAEC Global Pte Ltd(1) Investment holding Singapore 78.0 78.6
SIA Engineering (Philippines) Provide airframe maintenance and Philippines 50.7 51.1
Corporation(1)* component overhaul services
Singapore Jamco Pte Ltd (1) Manufacturing aircraft cabin Singapore 50.7 51.1
equipment and refurbishment
of aircraft galleys
Aerospace Component Engineering Repair and overhaul of hydro- - do - 39.8 40.1
Services Pte Limited (1) (2) mechanical equipment for Boeing
and Airbus aircraft
Aviation Partnership (Philippines) Provide aircraft maintenance services Philippines 39.8 40.1
Corporation*(1) (2) including technical and non-technical
handling at the airport
Singapore Airlines Cargo Pte Ltd Air cargo transportation Singapore 100.0 100.0
Cargo Community Network Pte Ltd(3) Providing and marketing of cargo - do - 51.0 51.0
community systems
Cargo Community (Shanghai) Co Ltd**+(3) Marketing and support of portal People’s Republic 51.0 51.0
services for the air cargo industry of China