FGV Audited Financial Statements 2019

145 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 Felda Travel Sdn. Bhd. Plantation Resorts Sdn. Bhd. (Note 6) Malaysia Under liquidation - - 100.0 100.0 - - - - Subsidiary of FGV Research Sdn. Bhd. FGV Applied Technologies Sdn. Bhd. Malaysia Research and development of mechanisation, automation, milling, biomass, bio and oleochemicals and food technology - - 100.0 100.0 - - - - The proportion of voting rights in the subsidiary undertakings held directly by the parent company do not differ from the proportion of ordinary shares held. * Audited by firms other than member firms of PricewaterhouseCoopers International Limited # Audited by member firms of PricewaterhouseCoopers International Limited, which are separate and independent legal entities from PricewaterhouseCoopers, Malaysia @ 30% equity stake in Sabahanya Plantations Sdn. Bhd. is held in trust for the beneficial interest of the Group.