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31 Investment in subsidiary companies
The consolidated financial statements for GB Auto “S.A.E.”, include the financial statements of the following subsidiaries:
Percentage of ownership
Companies
31 December 2016
31 December 2015
RG Investment “S.A.E.”
100%
100%
International Trade Agencies andMarketing Co. (ITAMCO) “S.A.E.”
99.449%
99.449%
Egyptian VehiclesManufacturing Co. (Ghabbour Egypt) “S.A.E.”
99.528%
99.528%
Ghabbour Continental Trading Co. (GCT) –Alex “S.A.E.”
100%
100%
GB Polo BusesManufacturing “S.A.E.”
51%
51%
Almora Recourses Co. “B.V.I.”
100%
100%
HaramTransportation Co. “S.A.E.”
99%
99%
GB Company for financial lease “S.A.E.”
100%
100%
Haram for transpiration Tourism “S.A.E.”
100%
100%
GB Allab Company
66.20%
66.20%
Masters Automotive Company “S.A.E.”
75%
75%
Microfinance consultancy Services (Mashro›ey) “S.A.E.”
80%
80%
Almajmoa Alalamia; Litijaret Alsaiarat (GK)
50%
50%
GB Logistics “S.A.E.”
99.98%
99.98%
GB Capital holding for financial investments “S.A.E.”
99%
99%
Gulf Company
100%
100%
Drive Automotive “S.A.E.”
90%
90%
Drive Finance “S.A.E.”
76%
76%
Ghabbour Al Qalam
68%
68%
GB Global Company
100%
100%
GBR Company
54%
54%
GBR Services Company
48.80%
48.80%
Egypt AutoMall Company for used car “S.A.E.”
99%
99%
GB El Bostan
60%
60%
Ghabbour general trade
25%
25%
Egypt TiresMarket “S.A.E.”
90%
90%
Pan African Egypt Company for Oil “S.A.E.”
100%
100%
Tires &more Company for car services “S.A.E.”
100%
100%
Suez Canal logistic services Co. “S.A.E.”
100%
100%
GB AutomotiveManufacturing Co. “S.A.E.”
100%
100%
Ready Parts for automotive spare parts “S.A.E.”
100%
100%
GB Light transport manufacturing company (GB LTMC) “S.A.E.”
100%
100%
Tasaheel Microfinance company ((Tasaheel)) “S.A.E.”
90%
90%
GB for heavy truck and construction equipment trading “S.A.E”
100%
100%
GB for water and environment technology. “S.A.E.”
100%
-
32 Capital commitments
The capital contractual expenditure of the Group at the consolidated financial statements date reached EGP 251 480 (EGP 229
257 as at December 31, 2015) represented in the amount to be paid upon the completion of the new production lines under
construction and other branches across the country.
2016 ANNUAL REPORT
93
GB Auto (S.A.E.)
Notes to the consolidated financial statements for the financial year ended December 31, 2016
(In thenotes all amounts are shown inThousandEgyptianPounds unless otherwise stated)