103 AUDITED FINANCIAL STATEMENTS 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 24 INVESTMENT IN SUBSIDIARIES (CONTINUED) (a) Details of subsidiaries are as follows: (continued) Place of business/ Proportion of Name of country of Nature of Proportion of ordinary shares Proportion of ordinary ordinary shares held by Proportion of RCPS/ subsidiary incorporation business directly held by FGVH shares held by the Group non-controlling interests RCCPS held by the Group 2021 2020 2021 2020 2021 2020 2021 2020 % % % % % % % % Direct subsidiaries (continued) Felda Holdings Bhd Malaysia Investment holding 100.0 100.0 100.0 100.0 – – – – FGV Research Sdn Bhd Malaysia Investment holding 100.0 100.0 100.0 100.0 – – – – FGV Integrated Farming Malaysia Investment 100.0 100.0 100.0 100.0 – – – – Holdings Sdn Bhd holding, wholesale of paddy, rice, flour, other grains, other general trading and services Indirect subsidiaries Subsidiaries of MSM Malaysia Holdings Berhad MSM Prai Berhad Malaysia Sugar refining, sales – – 51.0 51.0 49.0 49.0 – – and marketing of sugar products and investment holding MSM Trading & Malaysia Buy and sell – – 51.0 51.0 49.0 49.0 – – Distribution Sdn Bhd commodity products MSM Sugar Refinery Malaysia Carry on business in – – 51.0 51.0 49.0 49.0 – – (Johor) Sdn Bhd sugar product and by-product and to import raw sugar and others for milling and refining of sugar MSM Trading United Arab Under liquidation – – 51.0 51.0 49.0 49.0 – – International DMCC # Emirates Subsidiary of MSM Prai Berhad MSM Logistics Sdn Bhd Malaysia Provision of – – 51.0 51.00 49.0 49.0 – – transportation services
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