My first Publication ocbc_ar17_fullreport_english | Page 216

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2017
34. SUBSIDIARIES (continued)
34.1 LIST OF PRINCIPAL SUBSIDIARIES
Principal subsidiaries of the Group are as follows:
Name of subsidiaries
Country of incorporation/
Principal place of business
Proportion of ownership interests
and voting rights held by
the Group (%) (3)
Proportion of ownership interests
and voting rights held by
non-controlling interests (%) (3)
2017 2016 2017 2016
Macau SAR
Singapore
Malaysia
Malaysia
People’s Republic of
China
Hong Kong SAR
Indonesia 100
100
100
100
100 100
100
100
100
100 –
–
–
–
– –
–
–
–
–
100
85 100
85 –
15 –
15
Singapore 88 88 12 12
Malaysia 88 88 12 12
Malaysia
Singapore 88
88 88
88 12
12 12
12
Asset management and investment holding
Lion Global Investors Limited (2)
Great Eastern Holdings Limited (2) Singapore
Singapore 92
88 91
88 8
12 9
12
Stockbroking
OCBC Securities Private Limited Singapore 100 100 – –
Banking
Banco OCBC Weng Hang, S.A.
Bank of Singapore Limited
OCBC Al-Amin Bank Berhad
OCBC Bank (Malaysia) Berhad
OCBC Wing Hang Bank (China) Limited
OCBC Wing Hang Bank Limited
PT Bank OCBC NISP Tbk (1)
Insurance
Great Eastern General Insurance Limited (formerly
The Overseas Assurance Corporation Limited) (2)
Great Eastern General Insurance (Malaysia) Berhad
(formerly Overseas Assurance Corporation
(Malaysia) Berhad) (2)
Great Eastern Life Assurance (Malaysia) Berhad (2)
The Great Eastern Life Assurance Company Limited (2)
Unless otherwise indicated, the principal subsidiaries listed above are audited by KPMG LLP Singapore and its associated firms.
(1)
Audited by PricewaterhouseCoopers.
(2)
Audited by Ernst & Young.
(3)
Rounded to the nearest percentage.
The Group’s subsidiaries do not have significant restrictions on its ability to access or use its assets and settle its liabilities other than
those resulting from their respective local statutory, regulatory, supervisory and banking requirements within which its subsidiaries
operate. These requirements require the Group’s subsidiaries to maintain minimum levels of regulatory capital, liquid assets, and
exposure limits. In addition, Great Eastern Holdings Limited and other insurance subsidiaries are subject to their respective local
insurance laws and regulations, while the Group’s banking subsidiaries are subject to prudential regulatory requirements imposed by
local regulators.
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OCBC ANNUAL REPORT 2017