NOTES TO THE FINANCIAL STATEMENTS

Previous Page

Next Page

14 INVESTMENTS IN SUBSIDIARIES

Company

	2004 RM'000	2003 RM'000
Unquoted shares - at cost	94,844	94,844
Less: Allowances for impairment	(2,183)	(1,904)
	____________	____________
	92,661	92,940
	____________	____________

The subsidiaries, which are all incorporated in Malaysia (except where indicated), are as follows:

Effective equity interest

Direct subsidiaries	Principal activities	2004 %	2003 %
Bestcan Food Technological Industry Sdn Bhd	Production of instant noodles	99.42	99.42
Esin Canning Industry Sdn Bhd	Ceased operations	100	100
YHS Manufacturing Berhad	Orchard and fish farming	100	100
Yeo Hiap Seng (Sarawak) Sdn Bhd	Production of sauces and non-alcoholic beverages	100	100
Yeo Hiap Seng Trading Sdn Bhd	Distribution of food and beverages	100	100
Yeo Hiap Seng (Perak) Sdn Bhd	Investment	100	100
Yeo Hiap Seng (Middle East) Co. Ltd. E.C.* (Incorporated in Bahrain)	Marketing of Yeo's products	100	100
YHS Beverage (International) Pte. Ltd. (YHSBI)+ (Incorporated in Singapore)	Leasing of manufacturing equipment	100	100
Wahtai Realty Sdn Bhd	Dormant	100	100

* Not audited by PricewaterhouseCoopers Malaysia.

+ Audited by a firm affiliated to PricewaterhouseCoopers Malaysia.

15 INVESTMENTS IN ASSOCIATES/ AMOUNT DUE FROM ASSOCIATES

Group

Company

	2004 RM'000	2003 RM'000	2004 RM'000	2003 RM'000
Unquoted investment, at cost	1,787	1,787	1,787	1,787
Share of post acquisition profits	2,061	2,069	-	-
	____________	____________	____________	____________
	3,848	3,856	1,787	1,787
Less: Allowance for dimunition	-	-	(1,227)	(1,227)
	____________	____________	____________	____________
	3,848	3,856	560	560
	____________	____________	____________	____________
Share of net assets	3,848	3,856	560	560

The associates, which are all incorporated in Malaysia (except where indicated), are as follows:

Effective equity interest

	Principal activities	2004 %	2003 %
Senawang Edible Oil (Sdn) Bhd	Processing and trading of palm oil products	23.85	23.85
Yakin Aneka Sdn. Bhd.	Ceased operations	35	35
W.Y. Company Limited	Manufacture of non-carbonated drinks	49	49
(Incorporated in Thailand)

Group

Company

2004 RM'000

2003 RM'000

2004 RM'000

2003 RM'000

Amount due from associates	1,136	1,130	1,136	1,130
Less: Allowance for doubtful receivables	(857)	(846)	(857)	(846)
	____________	____________	____________	____________
Net	279	284	279	284
	____________	____________	____________	____________

The amount owing by associates mainly represents dividends receivable and expenses paid on behalf. The expenses paid on behalf have been fully provided for as at 31 December 2004. The Group's share of losses in two associates has been recognised to the extent of the carrying amount of the investments. The cumulative and current year's unrecognised share of losses in excess of carrying amount is RM2,610,000 (2003: RM2,402,000) and RM208,000 (2003: RM169,000) respectively.

16 OTHER INVESTMENTS

Other investments of the Group and the Company consist of the following:

Group

Company

2004 RM'000

2003 RM'000

2004 RM'000

2003 RM'000

Quoted shares in Malaysia:
At cost	129	129	129	129
Less: Allowance for diminution in value	(120)	(120)	(120)	(120)
	____________	____________	____________	____________
	9	9	9	9
Quoted Malaysian Government bonds - at cost	121	121	121	121
Quoted shares abroad - at cost	1,210	-	-	-
Unquoted shares - at cost	1	1	-	-
	____________	____________	____________	____________
Total	1,341	131	130	130
	____________	____________	____________	____________
Market value on:
Quoted shares in Malaysia	1	3	1	3
Quoted Malaysian Government bonds	114	112	114	112
	1,430	-	-	-
	____________	____________	____________	____________

The market values at the balance sheet date of the quoted investments approximated their fair values.

Previous Page

Next Page