FGV Audited Financial Statements 2019

124 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: (continued) 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 (continued) Felda Global Ventures Rubber Sdn. Bhd. (Note 2) Malaysia Liquidated - 100.0 - 100.0 - - - - FGV Trading Sdn. Bhd. (Note 4) Malaysia Commodity trading - 100.0 100.0 100.0 - - - - FGV China Oils Ltd. # (Note 5) China Refining of palm oil - 100.0 - 100.0 - - - - FGV Leads Sdn. Bhd. Malaysia Dormant 100.0 100.0 100.0 100.0 - - - - Indirect subsidiaries Subsidiaries of MSM Malaysia Holdings Berhad MSM Prai Berhad Malaysia Sugar refining, sales and marketing of sugar product - - 51.0 51.0 49.0 49.0 - - MSM Perlis Sdn. Bhd. Malaysia Raw sugar refining, rubber and oil palm plantations - - 51.0 51.0 49.0 49.0 - -