ESR AR 2019 EN

Notes to the Consolidated Financial Statements 31 December 2019 179 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ESR Annual Report 2019 15. INVESTMENTS IN JOINT VENTURES As at 31 December As at 31 December 2019 2018 USD’000 USD’000 Share of net assets 697,994 404,697 Goodwill on retaining interests in joint ventures 2 2 697,996 404,699 Particulars of the Group’s material joint ventures are as follows: Percentage of Name Registered share capital Place of registration and business Ownership interest Voting power Profit sharing Principal activities E-Shang Star Cayman Limited (“E-Shang Star”) USD5,038,674 Cayman Islands 25.62% 33.33% 25.62% Investment holding Sunwood Star Pte. Ltd. (“Sunwood Star”) USD787,191,715 Singapore 20.00% 33.33% 20.00% Investment holding Note: Unanimous agreements with the two joint venture investors are required for E-Shang Star and Sunwood Star, respectively.