GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 103 NOT ES TO THE F I NANC I A L STAT EMENTS 3 1 D e c e m b e r 2 0 1 8 C O N T ’ D 15. INVESTMENTS IN SUBSIDIARIES (cont’d) (e) The details of the subsidiaries are as follows (cont’d): Name of company Country of incorporation Effective interest in equity Principal activities 2018 2017 % % Subsidiaries of Mobiepay Sdn. Bhd. (cont’d) PT Pembayaran Elektronik Indonesia Indonesia 100.00 100.00 Engaged in the business of developing and selling software. Digital Salute Sdn. Bhd. # Malaysia 100.00 - Engaged in the business of providing self-service payment kiosk for reload and top up. Subsidiary of GHL Systems Philippines, Inc. Pinoytek Solusyon, Inc. @ Philippines 40.00 40.00 Dormant. Subsidiary of GHL (Thailand) Co., Ltd. Conscious Object Development Co. Ltd. Thailand 97.74 97.74 Dormant. Subsidiary of S Capital Sdn. Bhd. Paysys (M) Sdn. Bhd. # Malaysia 100 - Engaged in business as dealers in credit card transactions, terminals and solutions. Subsidiary of Paysys (M) Sdn. Bhd. Paysys Communications Sdn. Bhd. # Malaysia 100 - Engaged in developing payment solution together with relevant hardware require for a complete solution. Paysys Technology Sdn. Bhd. # Malaysia 100 - Engaged in developing payment solution together with relevant hardware require for a complete solution.