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NOTES TO FINANCIAL STATEMENTS
(cont’d)
31 March 2016
6 SUBSIDIARIES (cont’d)
Country of Ownership
Name of subsidiary incorporation interest Principal activities
2016 2015
% %
Held by Nanyang Venture Consulting
(Shanghai) Co., Ltd
* Nanyang Venture Consulting China 100 100 Consultant for enterprise
(Beijing) Co., Ltd management, technology
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.
Institute of Environmental Science and Engineering Pte Ltd was renamed as TechXcel Pte Ltd with effect
from 9 April 2015.
7 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. 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
2016 2015
$’000 $’000
Cost of investment in joint venture 717 461
Share of post-acquisition loss (191) (121)
526 340
NANYANG TECHNOLOGICAL UNIVERSITY AND ITS SUBSIDIARIES 63
