Singapore Airlines 2016 Annual Report Download - page 172
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Notes to the Financial Statements
31 March 2016
23 Subsidiary Companies (in $ million) (continued)
Principal activities
Country of
incorporation and
place of business
Percentage of equity
held by the Group
2016 2015
Tiger Airways Holdings Limited**** Investment holding Singapore 95.5 55.8
Tiger Airways Singapore Pte Ltd(6)**** Air transportation Singapore 95.5 55.8
Roar Aviation Pte Ltd(6)**** Investment holding Singapore 95.5 55.8
Roar Aviation II Pte Ltd(6)**** Investment holding Singapore 95.5 55.8
Roar Aviation III Pte Ltd(6)**** Investment holding Singapore 95.5 55.8
Simple Holidays Pte Ltd(6)**** Reservation service activities Singapore 95.5 –
SIA (Mauritius) Ltd@Inactive Mauritius 100.0 100.0
(1) Held by SIA Engineering Company
(2) The company is considered a subsidiary of the Group by virtue of the management control over financial and operating policies of the company
(3) Held by Singapore Airlines Cargo Pte Ltd
(4) Held by SilkAir (Singapore) Private Limited
(5) Held by the Company (56%) and SilkAir (Singapore) Private Limited (5%)
(6) Held by Tiger Airways Holdings Limited
* Audited by KPMG LLP, Singapore
** Audited by member firms of KPMG International in the respective countries
*** Audited by Shanghai HDDY Certified Public Accountants Co., Ltd
**** Audited by Ernst & Young LLP, Singapore
@ Not required to be audited under the law in country of incorporation
+ Financial year end 31 December
Special purpose entities
Details of the operating special purpose entities (“SPE”) controlled and consolidated by the Group at the end of financial year are as follows:
Name of entity Purpose of special purpose entity Country of incorporation
Winnie Aircraft Limited Financing of aircraft Mauritius
Falcon Aircraft Limited Financing of aircraft Mauritius
The SPEs are held by Tiger Airways Holdings Limited and are audited by Ernst & Young LLP, Mauritius
Although the Group does not hold shares in these companies, they are considered subsidiary companies as the activities of the SPEs are being
conducted on behalf of the Group according to its specific business needs and the Group retains the majority of the residual or ownership risks
related to the assets held by these SPEs. These SPEs were incorporated for the sole purpose of financing of the Group’s aircra (Note 19).
Singapore Airlines170
FINANCIAL