Alec Limited (Ltd) owns 70% of the shareholdings of Byron Trading and 60% of the shareholdings of
Question:
Alec Limited (Ltd) owns 70% of the shareholdings of Byron Trading and 60% of the shareholdings of Carson Trading. Alec Ltd set up a joint venture company, Dylan Trading, together with Ellen Private Limited (Pte Ltd). Alec Ltd and Ellen Pte Ltd each hold 50% shareholdings in Dylan Trading. Alec Ltd owns 40% of the shareholdings in Hansel Trading and 30% of the shareholdings in Iota Enterprises. Byron Trading owns 30% of the shareholdings of Jonah Trading. Carson Trading holds 55% of the shareholdings of Kylie Ltd and 40% of the shareholdings of Landon Ltd. Other details related to Alec Ltd:"
· 45% of Alec Ltd’s shares are held by Mr Ang, while the other 55% of shares are held by other individual shareholders, each holding less than 1% of the shares.
· Mr Ang also owns 75% of the shareholdings of Falcon Trading.
· Mr Ang also owns 20% of the shareholdings of Gretel Pte Ltd.
· Ashton is an executive director of Alec Ltd.
· Ashton’s wife (Alanna) owns 60% of the shareholdings of Morries Pte Ltd.
· Ashton owns 30% of the shareholdings of Nora Pte Ltd.
· Octave Services provides key management personnel services to Alec Ltd.
Other details related to Carson Trading:
· Constance is the CEO of Carson Trading.
· Constance also serves as a non-executive board member of Philbius Ltd.
· Constance owns 80% of the shareholdings of Queenie Pte Ltd.
· Constance’s son (Conner) owns 40% of the shareholdings of Randolph Pte Ltd.
· 70% of Carson Trading’s inventory is supplied by Youda Trading, a supplier from China. Other details related to Hansel Trading:
· The remaining shares (60%) of Hansel Trading are owned by an individual, Helen. Helen also owns 100% of the shareholdings of Summer Pte Ltd.
· Helen also owns 30% of the shareholdings of Tori Trading.
· Helen is a non-executive director of Unicorn Ltd.
· Unicorn Limited owns 100% of the shareholdings of Violet Pte Ltd. Other details related to Kylie Ltd:
· Kerry is an executive director of Kylie Ltd.
· Kerry holds 60% of the shareholdings of Wanda Trading.
· Kerry also owns 25% of the shareholdings of Xeno Trading. Other details related to Landon Ltd:
· Lance is the CFO of Landon Ltd.
For the purposes of Question 1, assume that more-than-50% shareholding will give rise to control, and a 20%-to-50% shareholding will give rise to significant influence. To know the related parties of Alec Limited and why are they related parties according to Singapore Financial Reporting Standards (International) (SFRS(I)) 1- 24, Related Party Disclosures. To know the related parties of Carson Trading and why are they related parties according to Singapore Financial Reporting Standards (International) (SFRS(I)) 1- 24, Related Party Disclosures. To know the related parties of Hansel Trading and why are they related parties according to Singapore Financial Reporting Standards (International) (SFRS(I)) 1- 24, Related Party Disclosures.
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher