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 139 9 INVESTMENT IN JOINT VENTURES (CONTINUED) Details of joint ventures are as follows (continued): Country of incorporation Group’s effective interest Principal activities 2017 % 2016 % Wasco Engineering & Technology (Nantong) Co., Ltd. People’s Republic of China - a 36 a Dormant (Dissolved) Welspun Wasco Coatings Private Limited India 49 49 Provision of pipe coating services Alam-PE Holdings (L) Inc. Federal Territory of Labuan, Malaysia 49 49 Investment holding b On 11 December 2017, Pesanan Dinamik Sdn. Bhd. (“PDSB”), an indirect joint-venture of the Company, had held its final meeting for the Member’s Voluntary Winding Up. PDSB would be 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 20 January 2017, Wasco Engineering & Technology (Nantong) Co., Ltd completed its Members’ Voluntary Winding Up via approval granted by the Industry and Commerce of Nantong, the People’s Republic of China.