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	Notes to the financial statements

	6 Investments 大象传媒 World Service holds the following interests in companies, at cost:

	Holding of issued ordinary shares %


	Subsidiaries
	大象传媒 East Asia Relay Company Limited (incorporated in Hong Kong)	100
	大象传媒 Radiocom (Bulgaria) OLLC (incorporated in Bulgaria)	100
	大象传媒 Radiocom (Hungary) Limited (incorporated in Hungary)	100
	大象传媒 Radiocom (Romania) SRL (incorporated in Romania)	100
	大象传媒 Radiocom (Slovakia) Limited (incorporated in the Slovak Republic)	100
	大象传媒 Radiocom (Praha) Sro (incorporated in the Czech Republic)	100
	大象传媒 Polska SP Zoo (incorporated in Poland)	100
	大象传媒 do Brazil Limitada (incorporated in Brazil)	100
	大象传媒 Radiocom Deutschland GmbH (incorporated in Germany)	100
	大象传媒 World Service Trust

	The 大象传媒 World Service Trust is a charitable company limited by guarantee, of which the 大象传媒 is the sole member.


	Associates
	Caribbean Relay Company Limited (incorporated in Antigua)	45
	Multimedia Ventures Limited (incorporated in Great Britain)	50
	Ascension Island Commercial Services Limited (incorporated in Great Britain)	33



	The above companies’ results and balances are not material to 大象传媒 World Service and therefore consolidated financial statements have not been prepared.


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