23 INVESTMENT IN SUBSIDIARIES (CONTINUED) (a) Details of subsidiaries are as follows: 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 2024 % 2023 % 2024 % 2023 % 2024 % 2023 % 2024 % 2023 % Direct subsidiaries FGV Sugar Sdn. Bhd. Malaysia Investment holding 100.0 100.0 100.0 100.0 – – 100.0 100.0 Felda Global Ventures Perlis Sdn. Bhd. Malaysia Dormant 100.0 100.0 100.0 100.0 – – – – FGV Resources Sdn. Bhd. (Note 1) Malaysia Dissolved – 100.0 – 100.0 – – – – FGV USA Properties, Inc.* United States of America Operator of residential real estate in USA 100.0 100.0 100.0 100.0 – – – – MSM Malaysia Holdings Berhad Malaysia Investment holding 11.0 11.0 51.0 51.0 49.0 49.0 – – FGV Downstream Sdn. Bhd. Malaysia Investment holding 100.0 100.0 100.0 100.0 – – 100.0 100.0 FGV Plantations Sdn. Bhd. Malaysia Investment holding 100.0 100.0 100.0 100.0 – – 100.0 100.0 FGV Shared Service Centre Sdn. Bhd. Malaysia Provide transactional processing activities for Finance and Human Resources functions of FGV Holdings Berhad Group of companies 100.0 100.0 100.0 100.0 – – – – FGV R&D Sdn. Bhd. Malaysia Research and development 100.0 100.0 100.0 100.0 – – – – FGV Capital Sdn. Bhd. Malaysia Undertake the business of all kinds of treasury services 100.0 100.0 100.0 100.0 – – – – FGV Investment (L) Pte. Ltd Malaysia Investment holding and investment management 100.0 100.0 100.0 100.0 – – – – 111 Notes to the Financial Statements For the financial year ended 31 December 2024
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