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48. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATED COMPANIES (cont'd)

     
 
 
Effective group
equity interest
 
Cost of Investment
Country of
incorporation/
Place of
operation
 
Associated Companies
2002
%
 
2001
%
 
2002
US$'000
 
2001
US$'000
Principal activities
 
Direct Interest :                  
                   
Adelaida Manor Realty Corporation 40   40   10   10 Philippines Property
investment
Bara International Shipping Lines
      Company Ltd
30   30   29   29 Thailand Shipowning
Bara Shipping Agencies Company Ltd 49   49   36   36 Thailand Shipping agency
Chao Phraya Port Services Co Ltd 30   30   299   299 Thailand Port services
Corporate Executive Orient Suites
      Corporation
40   40   6   6 Philippines Property
investment
ECICS Property Ltd 18.9   18.9   908   3,188 Singapore Property
investment
Guava Holdings Corporation 40   40   15   15 Philippines Property
investment
Lorenzo Shipping Corporation 31.6   46.85   6,593   8,390 Philippines Shipowning
MAR-NOL Realty Corporation 40   40   10   10 Philippines Property
investment
MLC-NOL Realty Corporation 40   40   10   10 Philippines Property
investment
Madrigal Holdings Corporation 40   40   15   15 Philippines Property
investment
NBC Container Depot Co Ltd 49   49   987   987 Thailand Container depot
NOL Madrigal Realty & Development
      Corporation
40   40   25   25 Philippines Property
investment
NOL Property (Taiwan) Ltd 50   50   20   20 Taiwan Under liquidation
NOL Properties Thailand Co Ltd 49   49   *   * Thailand Management
services
NOL Resources Corporation 40   40   18   18 Philippines Property
investment
NOL (Taiwan) Shipping Agencies Ltd   49     1,376 Taiwan Shipping agency
Neptune Phil Alpha Inc 30   30   37   37 Philippines Dormant
NewCo Holdings Incorporation 40   40   21   21 Philippines Property
investment
Phil Trident Land Inc 40   40   5   5 Philippines Property
investment
Thai International Shipbreakers Company Ltd 45.5   45.5   438   438 Thailand Ship breaking
Timor Marine Sdn Bhd 49   49   170   170 Malaysia Investment
holding
116 Kanlaon Realty & Holdings Incorporation 40   40   15   15 Philippines Property
investment
137 Lauan Realty & Holdings Incorporation 40   40   15   15 Philippines Property
investment
205 San Enrique Realty & Holdings
      Incorporation
40   40   15   15 Philippines Property
investment
206 Makiling Holdings Corporation 40   40   15   15 Philippines Property
investment
210 Makiling Holdings Corporation 40   40   15   15 Philippines Property
investment
226 Makiling Holdings Corporation 40   40   15   15 Philippines Property
investment
405 Ambuklao Holdings Corporation 40   40   15   15 Philippines Property
investment
                   
Total (Note 19)         9,757   15,210    
   
 


*     Denotes cost of investment of less than US$500.

 

 
   

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