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 134 8 INVESTMENT IN ASSOCIATES (CONTINUED) c On 12 September 2017, the Company together with Tengku Rozitatoria binti Tengku Rostam, had incorporated a company in Malaysia by the name of WS Integrasi Sdn. Bhd. (“WSI”). The total issued and paid-up share capital of WSI is RM1,000 comprising 1,000 ordinary shares which were held in the proportions of 51% and 49% by Tengku Rozitatoria binti Tengku Rostam and the Company, respectively. b On 2 May 2017, TOT Inspection Sdn. Bhd. (“TOTI”), an indirect associate company of the Company had held its final meeting for the Member’s Voluntary Winding Up. TOTI was fully dissolved after the expiration of three months from the date of lodgement of the Return by Liquidator relating to the Final Meeting with the Companies Commission of Malaysia and Official Receiver. a On 26 January 2017, Lesso Home Syn Tai Hung Sdn Bhd (“LHSTH”) was incorporated in Malaysia following the Joint Venture and Shareholders’ Agreement entered into between Lesso Home Service Holdings Limited (“LESSO”) and Syn Tai Hung Trading Sdn Bhd (“STHT”), an indirect wholly-owned subsidiary of the Company. The total issued and paid-up share capital of LHSTH is RM100 only divided into 100 ordinary shares and held in the proportion of 51% and 49% by LESSO and STHT respectively. As a result, LHSTH became the Company’s indirect associate held through STHT.