NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 CONT’D 16. INVESTMENTS IN SUBSIDIARIES (Cont’d) (d) The details of the subsidiaries are as follows: (Cont’d) Name of company Country of incorporation/ Principal place of business Effective interest in equity Principal activities 2023 2022 % % Subsidiaries of GHL Asia Pacific Limited (Cont’d) GHL Systems Australia Pty. Ltd. Australia 100.00 100.00 Sales of hardware, software and professional services. GHL (Thailand) Co., Ltd. # Thailand 97.74 97.74 Sales, maintenance, installation and rental of card and non-card based payment processing systems and services, and relevant infrastructure including hardware and software for all kinds of payment solution systems. GHL Myanmar Limited Myanmar 100.00 100.00 Dormant. GHL Philippines Financing Services Inc. ^ Philippines 99.99 99.99 Engaged in providing financial product and services. Subsidiaries of GHL ePayments Sdn. Bhd. GHL ePayments Co., Ltd. # Thailand 99.99 99.99 Sales, maintenance, installation, and rental of card and non-card based payment processing systems including hardware and software for all kinds of payment solution systems. GHL Electronic Payments Inc. ^ Philippines 99.99 99.99 Provide world-class payment services and solutions to banks and merchants. GHL ePayments Pte. Ltd. ^ Singapore 100.00 100.00 Provide internet payment gateway services. Subsidiaries of e-pay (M) Sdn. Bhd. PT e-pay Indonesia * Indonesia 78.80 78.80 Dormant. 123 ANNUAL REPORT 2023
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