Telstra 2016 Annual Report Download - page 142

140
Notes to the financial statements (continued)
Section 6. Our investments (continued)
140 | Telstra Corporation Limited and controlled entities
6.2 Investments in controlled entities (continued)
6.2.1 List of our investments in controlled entities (continued)
1 During the year we decreased our ownership of Autohome Group from 54.3 per cent to 53.9 per cent, due to employee share issues. On 23 June 2016, we sold 47.4 per cent of Autohome
Group. Refer to note 6.4 for disposal details. On completion, our 6.5 per cent retained interest was recorded as an investment in listed security as disclosed in note 4.4.5.
2 We have control over these companies through our decision making ability on the board.
3 These companies are not audited by Ernst & Young, our Australian statutory auditor.
4 Pacnet Global (Singapore) Pte Ltd, Pacnet Internet (S) Pte Ltd, Pacnet Services Global (S) Pte Ltd, Ooyala and its controlled entities have a 31 December reporting date. Telstra
Telecommunications Private Limited has a 31 March reporting date.
5 We increased our ownership interest in Ooyala Holdings Inc. and it controlled entities from 97.3 per cent to 97.6 per cent at 30 June 2016, via additional equity contributions.
6 The investment in these companies are held by various entities. The immediate percentage reflected represents the ultimate ownership by Telstra Corporation.
7 Refer to note 6.1.1 for details of business combinations for the financial year 2016.
6.2.2 Deed of cross guarantee The following entities are party to the Deed and part of the Closed
Group:
• Telstra Corporation Limited
• Bridge Point Communications Pty Ltd
• DCA Direct Health Pty Ltd
• DCA eHealth Solutions Pty Ltd
• Goodwin Enterprises (Vic) Pty Ltd
• Kelzone Pty Ltd
• Network Design and Construction Limited
• NSC Enterprises Solutions Pty Ltd
• NSC Group Pty Ltd
• O2 Networks Pty Ltd
• Prentice Management Consulting Pty Ltd
• Telstra Communications Limited
• Telstra Holdings Pty Ltd
• Telstra International (Aus) Limited
• Telstra iVision Pty Ltd
• Telstra Multimedia Pty Ltd
• Telstra Pay TV Pty Ltd
• Telstra Plus Pty Ltd
Table A (continued) % of equity held by
immediate parent
% of equity held by
ultimate parent
As at 30 June As at 30 June
2016 2015 2016 2015
Name of entity
Country of
incorporation % % % %
Telstra Holdings Pty Ltd Australia 100.0 100.0 100.0 100.0
Telstra Inc. United States 100.0 100.0 100.0 100.0
Telstra International (Aus) Limited Australia 100.0 100.0 100.0 100.0
Telstra International Limited Hong Kong 100.0 100.0 100.0 100.0
Telstra International Philippines Inc. Philippines 100.0 100.0 100.0 100.0
Telstra iVision Pty Ltd Australia 100.0 100.0 100.0 100.0
Telstra Japan K.K. Japan 100.0 100.0 100.0 100.0
Telstra Limited United Kingdom 100.0 100.0 100.0 100.0
Telstra Media Pty Ltd Australia 100.0 100.0 100.0 100.0
Telstra Multimedia Pty Ltd Australia 100.0 100.0 100.0 100.0
Telstra Pay TV Pty Ltd Australia 100.0 100.0 100.0 100.0
Telstra Readycare Pty Ltd Australia 87.5 87.5 87.5 87.5
Telstra Singapore Pte Ltd Singapore 100.0 100.0 100.0 100.0
Telstra SNP Monitoring Pty Ltd Australia 51.0 51.0 51.0 51.0
Telstra Telecommunications Private Limited 4 India 74.0 74.0 74.0 74.0
Telstra Web Holdings Inc. 6Philippines 64.0 64.0 64.0 64.0
Telstra Corporation Limited and each of the wholly-owned
subsidiaries set out below (together the “Closed Group”), have
entered into a deed of cross guarantee, as defined in ASIC Class
Order 98/1418 (Class Order) dated 17 May 2010 (Deed).
The effect of the Deed is that each entity in the Closed Group
guarantees the payment in full of all debts of the other entities
in the Closed Group in the event of their winding up.
Pursuant to the Class Order, the wholly-owned subsidiaries
within the Closed Group are relieved from the requirement to
prepare and lodge separate financial statements, directors’
reports and auditors’ reports.
The statement of comprehensive income and statement of
financial position disclosed in this section present consolidated
results of the Closed Group.