Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 119 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 13. INVESTMENTS IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows: (Cont’d) Principal Place Percentage of of Business/ Issued Share Country of Capital Held Name of Subsidiaries Incorporation by Parent Principal Activities 2023 2022 % % Subsidiaries of FMSB (Cont’d) Frontken (Johor) Malaysia 100 100 Provision of surface treatment Sdn. Bhd. 1 technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering services. Subsidiaries of FSPL Frontken Philippines Inc. 1 Philippines 99.99 99.99 Provision of surface treatment technology using thermal spray coating processes and a series of complementary processes including mechanical and chemical engineering works. 1 These subsidiaries were audited by other firms. 2 Not required to be audited under the laws of the country of incorporation. 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. The non-controlling interests at the end of the reporting period comprise the following: Effective Equity Interest The Group 2023 2022 2023 2022 % % RM RM AGTC 7.47 7.5 38,376,481 32,613,529 TTES 55 55 8,744,439 7,245,391 Other individually immaterial subsidiaries (385,452) (404,902) 46,735,468 39,454,018
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