114 FGV HOLDINGS BERHAD 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 % % % % % % % % Indirect subsidiaries (continued) Subsidiaries of FGV Integrated Farming Holdings Sdn Bhd (continued) FGV Agro Fresh Technology Sdn Bhd Malaysia Internet retail of – – 52.0 52.0 48.0 48.0 – – groceries, including fresh produce and and food items, and the trading, import, export, distribution and wholesaling of food products MSM Perlis Sdn Bhd Malaysia Rubber, mango, and – – 100.0 51.0 – 49.0 – – (Note 5) oil palm plantations Subsidiary of FGV Dairy Farm Sdn Bhd FGV Dairy Industries Malaysia Producing and – – 60.0 60.0 40.0 40.0 – – Sdn Bhd trading of dairy (formerly known as products Bright Cow Industries Sdn Bhd) Subsidiary of FGV Trading Sdn Bhd FGV-PU India Pte. Ltd. India Sale regional office – – 70.0 70.0 30.0 30.0 – – including market intelligence and business development work for India market 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.
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