Frontken Berhad Annual Report 2017

89 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2017 11. INVESTMENTS IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows: (Cont’d) Name of Subsidiaries Principal Place of Business/ Country of Incorporation Percentage of Issued Share Capital Held by Parent 2017 % 2016 % Principal Activities Subsidiaries of FMSB Frontken (East Malaysia) Sdn. Bhd. 2 Malaysia 100 100 Provision of surface metamorphosis technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works. Frontken (Johor) Sdn. Bhd. 2 Malaysia 100 100 Provision of surface metamorphosis technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering services. Frontken Projects Sdn. Bhd. (“FPSB”) 2 Malaysia 100 100 Provision of surface metamorphosis technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering services. Subsidiaries of FSPL Frontship Pte. Ltd. 1 Singapore 100 100 Procurement of materials, equipment consumable parts and engineering services. Frontken Projects Pte. Ltd. (“FPPL”) 1 Singapore 100 100 General contractors and process and individual plant engineering services. Frontken Philippines Inc 1 Philippines 99.99 99.99 Provision of surface metamorphosis technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works. Subsidiary of AGTC Ares Green International Corporation (“AGIC”) 1 Samoa 100 100 Investment holding. 1 The financial statements of the subsidiaries are audited by auditors other than the auditors of the Company. 2 The financial statements of the subsidiaries are audited by Messrs. Crowe Horwath. 3 TTES is considered a subsidiary of the Group as the Group has control over the operating and management policies of this subsidiary via the board of directors appointed by the Group. Notes To The Financial Statements (cont’d)