FGV Audited Financial Statements 2019

122 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 24 INVESTMENT IN SUBSIDIARIES (CONTINUED) (a) Details of subsidiaries are as follows: Name of subsidiary Place of business/ country of incorporation Nature of business Proportion of ordinary shares directly held by FGVH Proportion of ordinary shares held by the Group Proportion of ordinary shares held by non-controlling interests Proportion of RCPS/RCCPS held by the Group 2019 % 2018 % 2019 % 2018 % 2019 % 2018 % 2019 % 2018 % Direct subsidiaries Felda Global Ventures Indonesia Sdn. Bhd. (Note 7) Malaysia Under liquidation 100.0 100.0 100.0 100.0 - - - - FGV Sugar Sdn. Bhd. Malaysia Investment holding 100.0 100.0 100.0 100.0 - - 100.0 100.0 Felda Global Ventures Perlis Sdn. Bhd. Malaysia Under liquidation 100.0 100.0 100.0 100.0 - - - - FGV Resources Sdn. Bhd. Malaysia Dormant 100.0 100.0 100.0 100.0 - - - - FGV USA Properties, Inc.* United States of America Operator of residential real estate in USA 100.0 100.0 100.0 100.0 - - - - MSM Malaysia Holdings Berhad Malaysia Investment holding 11.0 11.0 51.0 51.0 49.0 49.0 - - FGV Downstream Sdn. Bhd. Malaysia Investment 100.0 100.0 100.0 100.0 - - 100.0 100.0 FGV Plantations Sdn. Bhd. (Note 4) Malaysia Investment holding 100.0 100.0 100.0 100.0 - - 100.0 100.0