FGV Audited Financial Statements 2019

125 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 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 % Indirect subsidiaries (continued) Subsidiaries of MSM Malaysia Holdings Berhad (continued) MSM Trading & Distribution Sdn. Bhd. Malaysia Buy and sell commodity products - - 51.0 51.0 49.0 49.0 - - MSM Sugar Refinery (Johor) Sdn. Bhd. Malaysia Carry on business in sugar product and by-product and to import raw sugar and others for milling and refining of sugar - - 51.0 51.0 49.0 49.0 - - MSM Trading International DMCC # United Arab Emirates Sugar trading - - 51.0 51.0 49.0 49.0 - - Subsidiary of MSM Prai Berhad MSM Logistics Sdn. Bhd. Malaysia Provision of transportation services - - 51.0 51.00 49.0 49.0 - -