GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 119 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 CONT’D 16. INVESTMENTS IN SUBSIDIARIES (cont’d) (b) All components of non-controlling interests shall be measured at their acquisition-date fair values, unless another measurement basis is required by MFRSs. The choice of measurement basis is made on a combination-by-combination basis. Subsequent to initial recognition, the carrying amount of non- controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. (c) Advances to a subsidiary are unsecured, interest-free and settlement is neither planned nor likely to occur in the foreseeable future for the purposes of providing the subsidiary with a long term source of additional capital. (d) The details of the subsidiaries are as follows: Name of company Country of incorporation/ Principal place of business Effective interest in equity Principal activities 2019 2018 % % GHL Transact Sdn. Bhd. # Malaysia 100.00 100.00 Sales and rental of EDC equipment and its related software and services, inclusive of installation, training and maintenance. GHL EFTPOS Sdn. Bhd. # Malaysia 100.00 100.00 Sales and rental of EDC equipment and its related software and services, inclusive of installation, training and maintenance. GHL CardPay Sdn. Bhd. # Malaysia 100.00 100.00 Issue and/or acquire all credit card, debit card, prepaid card, loyalty card and electronic cash transactions carried out by the card holders at acquired merchants on behalf of the card issuer and for that purpose to provide the necessary facilities and infrastructure that facilitates the transactions electronically and sale and rental of hardware and its related services, inclusive of installations, training and maintenance. GHL Payments Sdn. Bhd. # Malaysia 100.00 100.00 Sales and rental of EDC equipment and its related software and services, inclusive of installation, training and maintenance and involved in business of money lending services.