Yinson Annual Report 2020

318 Notes to the financial statements (cont’d) For the financial year ended 31 January 2020 Yinson Holdings Berhad SECTION 7 ACCOUNTABILITY 46. Summary of effects of acquisition and re-organisation of companies 2020 Internal re-organisation of companies During the financial year, the Group had completed the internal re-organisation for the following companies of which there were no consequential financial effects to the Group: (a) On 18 February 2019, Yinson Boronia Consortium Pte. Ltd., an indirect wholly owned subsidiary of the Group, completed the acquisition of 100% equity interest in Yinson Boronia Holdings (S) Pte. Ltd. (“YBHPL”) from Yinson Acacia Ltd, an indirect wholly owned subsidiary of the Group for a consideration of USD1. YBHPL remains as an indirect wholly owned subsidiary of the Group. (b) On 17 June 2019, Yinson Global Corporation (HK) Limited, an indirect wholly owned subsidiary of the Group, completed the acquisition of 100% equity interest in Yinson Eden Pte. Ltd. (formerly known as Yinson Boronia Production (S) Pte. Ltd.) (“YEPL”) from Yinson Boronia Holdings (S) Pte. Ltd., an indirect wholly owned subsidiary of the Group for a consideration of USD1. YEPL remains as an indirect wholly owned subsidiary of the Group. (c) On 1 July 2019, Yinson Global Corporation (HK) Limited, an indirect wholly owned subsidiary of the Group, completed the acquisition of 100% equity interest in Yinson Production Offshore Pte. Ltd. (“YPOPL”) from Yinson Production Limited, a direct wholly owned subsidiary of the Group for a consideration of USD1. YPOPL remains as an indirect wholly owned subsidiary of the Group. (d) On 2 October 2019, Yinson Production Offshore Pte. Ltd., a direct wholly owned subsidiary of the Group, completed the acquisition of 100% equity interest in Yinson International Pte. Ltd. (“YIPL”) from Yinson Production Limited, a direct wholly owned subsidiary of the Group for a consideration of USD1. YIPL remains as an indirect wholly owned subsidiary of the Group. (e) On 31 December 2019, Yinson Global Corporation (HK) Limited, an indirect wholly owned subsidiary of the Group, completed the acquisition of 100% equity interest in Yinson Juniper Ltd. (“YJL”) from the Company for a consideration of USD2. As a result, YJL became an indirect wholly owned subsidiary of the Group. (f) On 30 January 2020, Yinson Offshore Services Sdn. Bhd., a direct wholly owned subsidiary of the Group, completed the acquisition of 70% equity interest in Regulus Offshore Sdn. Bhd. (“RO”) from the Company for a consideration of RM6,650,062. As a result, RO became a 70% indirect owned subsidiary of the Group. 2019 (i) Reclassification of companies (a) On 30 March 2018, the Company entered into a supplemental shareholders’ agreement on Yinson Energy Sdn. Bhd. (“YESB”). Following MFRS 10 control assessment, it was determined that YESB ceased to be an associate of the Group and became a 30% direct owned subsidiary of the Group. (b) On 19 September 2018, Yinson Acacia Ltd entered into a supplemental shareholders’ agreement in relation to its investment in an associate, Yinson Operations & Production West Africa Limited (“YOPWAL”). Subsequent to the MFRS 10 control assessment, YOPWAL was determined as a 40% direct owned subsidiary of the Group.