Middlesex University
Financial Statements 2015/16
28. Subsidiary undertakings The subsidiary companies, wholly-owned or effectively controlled by the University, are as follows: Principal trading subsidiary
Parent interest in ordinary shares voting rights
MU Ventures Limited
Middlesex Services Limited (Hong Kong)
Middlesex Uni (SEA) SDN BHD
Middlesex Educational Services (Mauritius) Limited
Middlesex International (Dubai) FZ-LLC
100% owned 100% owned 100% owned 100% owned 100% owned Principal activity Consultancy services
Student recruitment and marketing services
Student recruitment and marketing services
Student recruitment and marketing services
Training and development, academic staff provision.
Country of incorporation
England and Wales Hong Kong Malaysia Mauritius Dubai/UAE MU Ventures Limited owns 76% of Middlesex University (Malta) Limited with 24% owned by STC International Limited.
Middlesex Services Limited (Hong Kong) owns 70% of MDXU Limited with 30% owned by The Tiger Investment and Finance Company Limited.
Middlesex International (Dubai) FZ-LLC owns 51% of Middlesex International (Mauritius) Limited (previously Middlesex International JSS (Mauritius) Limited) with 49% owned by Medine Limited.
On the 30 September 2015 the University’s principal trading subsidiary, Middlesex International (Dubai) FZ-LLC acquired the 100% ownership of Middlesex International JSS (Mauritius) Limited after purchasing the 49% shareholding of JSS Academy Limited. On 18 February 2016 the 49% shareholding was purchased by Medine Limited.
The board believe that the carrying value of the investments disclosed at Note 15 is supported by the subsidiary company net assets and/or business plans.
MU UK Consultants Limited and Middlesex Education Private Limited do not have share capital disclosed above, but their results, assets and liabilities for the year ended 31 July 2016 are included in the group financial statements by virtue of the fact that the University has dominant influence over financial and operating policies. MU UK Consultants Limited is incorporated and registered in Dubai/UAE and Middlesex Education Private Limited incorporated and registered in India with both providing student recruitment and marketing services to the University within those regions overseas.
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