Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 118 7 INVESTMENT IN SUBSIDIARIES (CONTINUED) Advances to subsidiaries for long term working capital purposes represent an extension of capital to the subsidiaries and are such deemed to be net investment. Details of subsidiaries are as follows: Group’s effective interest 2017 % 2016 % Country of incorporation Principal activities Wasco Energy Ltd. 100 100 Bermuda Investment holding Wasco Management Services Sdn. Bhd. 100 100 Malaysia Provision of management support services * Wasco Capital Pte. Limited 100 100 Singapore Investment holding ~ Wasco (Australia) Pty. Ltd. 60 60 Australia Provision of construction services for the oil and gas industry # Wasco Coatings Limited 100 100 Hong Kong, SAR Investment holding * Wasco Coatings UK Ltd. 100 100 England and Wales Dormant * Wasco Management Services S.R.L. 100 100 Italy Dormant * Wasco Coatings Singapore Pte. Ltd. 100 100 Singapore Investment holding ~ Turn Key Pipeline Services B.V. 100 100 The Netherlands Provision of engineering design, construction, installation services and supply of equipment for pipe coating plant and facilities for the oil and gas industry Wasco Coatings Services Sdn. Bhd. 100 100 Malaysia Provision of pipe coating and related services to the oil and gas industry ~ Wasco Coatings Europe B.V. 100 100 The Netherlands Provision of pipe coating and related services to the oil and gas industry ~ Wasco-PAP Services Ghana Limited 70 70 The Republic of Ghana Provision of services for the oil and gas sectors