23 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 2024 % 2023 % 2024 % 2023 % 2024 % 2023 % 2024 % 2023 % Indirect subsidiaries (continued) Subsidiaries of FGV Palm Industries Sdn. Bhd. FGV Refineries Sdn. Bhd. Malaysia Provision of crude palm oil and palm kernel processing service – – 48.0 48.0 52.0 52.0 – – FGV Kernel Products Sdn. Bhd. Malaysia Buying and processing oil palm kernels, refined palm oil products and selling its products – – 60.0 60.0 40.0 40.0 – – Delima Oil Products Sdn. Bhd. Malaysia Manufacture of other food products N.E.C, wholesale of paddy, rice, flour, other grains and sugar and export and import of other foodstuffs – – 72.0 72.0 28.0 28.0 – – FGV Marketing Services Sdn. Bhd. Malaysia Marketing of FGV Holdings Berhad group of companies’ commodity products – – 36.7 36.7 63.3 63.3 – – FNI Biofuel Sdn. Bhd.* Malaysia Manufacturing of biomass fuel from empty fruit bunch – – 72.0 72.0 28.0 28.0 – – Subsidiary of FGV Marketing Services Sdn. Bhd. PT. Cashgrow Ventures# Indonesia Commodity trading – – 34.9 34.9 65.1 65.1 – – FGV Holdings Berhad | Audited Financial Statements 2024 120 Notes to the Financial Statements For the financial year ended 31 December 2024
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