ANNUAL REPORT 2014
75
NOTES TO THE
FINANCIAL STATEMENTS
8.
Investments in joint ventures (continued)
Details of joint ventures are as follows:
Effective
ownership interest
Name of joint ventures
Nature of the relationship
2014
2013
APM Tachi-S Seating Systems
Sdn. Bhd. (held via 100% owned
subsidiary, Auto Parts Holdings Sdn.
Bhd.)
Technical partner and tier-one
automotive seats manufacturer for
Original Equipment Market customers
of the Group.
51% 60%
P.T. APM Armada Autoparts (held
via 100% owned subsidiary, Auto
Parts Holdings Sdn. Bhd.)
Manufacture interior products and
is one of the strategic partnerships
to develop Indonesia’s automotive
market.
50% 50%
IAC APM Automotive Systems Ltd
(held via 100% owned subsidiary,
APM Automotive International Ltd.)
Manufacture interior plastic
components and is one of the strategic
partnerships to develop Thailand’s
automotive market.
40% 40%
Diversified Furniture Systems
Sdn. Bhd. (held via 100% owned
subsidiary, Auto Parts Holdings Sdn.
Bhd.)
Dormant
50% 50%
There is no individually material joint venture to the Group.
9.
Intangible assets
Group
Trademarks
and design
Development
expenditure Goodwill
Total
RM’000
RM’000
RM’000
RM’000
Cost
At 1 January 2013
-
2,236
-
2,236
Additions
712
99
-
811
At 31 December 2013/1 January 2014
712
2,335
-
3,047
Additions
-
101
-
101
Acquisition of business
4,313
-
6,696
11,009
At 31 December 2014
5,025
2,436
6,696
14,157
Accumulated amortisation
At 1 January 2013
-
1,762
-
1,762
Charge for the year
-
412
-
412
At 31 December 2013/1 January 2014
-
2,174
-
2,174
Charge for the year
208
143
-
351
At 31 December 2014
208
2,317
-
2,525
