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NOTES TO
FINANCIAL STATEMENTS (CONT’D)
31 March 2015
5 SUBSIDIARIES (cont’d)
Country of Ownership
Name of subsidiary incorporation interest Principal activities
2015 2014
% %
Held by Nanyang Venture Consulting
(Shanghai) Co., Ltd
* Nanyang Venture Consulting China 100 100 Consultant for enterprise
management, technology
(Beijing) Co., Ltd and education.
* Audited by overseas practices of Deloitte Touche Tohmatsu Limited.
@ Audited by Deloitte & Touche LLP, Singapore.
# Not required to be audited in the country of incorporation.
^ NTU Ventures Private Limited was renamed as Nanyang Technological University-NTUitive Pte Ltd with
effect from 23 April 2014.
6 JOINT VENTURE
In 2014, the Group established TechBridge Ventures Pte Ltd, a company incorporated in Singapore, and holds
50% share in the ownership of the company through its wholly-owned subsidiary, Nanyang Technological
University-NTUitive Pte Ltd (formerly known as NTU Ventures Private Limited). The principal activity of the joint
venture is to engage in technology development and commercialisation.
The following amounts are included in the Group’s financial statements as a result of the equity accounting of
TechBridge Ventures Pte Ltd:
Group
2015 2014
$’000 $’000
Cost of investment in joint venture 461 208
Share of post-acquisition loss
(121) (10)
340 198
60 NTU ANNUAL REPORT 2015
