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 Mobiepay Sdn. Bhd. Pay Here Sdn. Bhd. # Malaysia 100.00 100.00 Dormant. PT Pembayaran Elektronik Indonesia Indonesia 100.00 100.00 Engaged in the business of IT consulting and management services. Digital Salute Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in the business of providing selfservice payment kiosk for reload and top up. Subsidiary of GHL (Thailand) Co., Ltd. Conscious Object Development Co. Ltd. Thailand 97.74 97.74 Dormant. Subsidiary of S Capital Sdn. Bhd. Paysys (M) Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in business as dealers in credit card transactions, terminals and solutions. Subsidiaries of Paysys (M) Sdn. Bhd. Paysys Communications Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in developing payment solution together with relevant hardware require for a complete solution. Paysys Technology Sdn. Bhd. # * Malaysia 100.00 100.00 Dormant. # Subsidiaries audited by BDO PLT Malaysia or BDO PLT member firms. ^ Subsidiaries not audited by BDO PLT Malaysia or BDO PLT member firms. * During the financial year, Paysys Technology Sdn. Bhd. has reduced its share capital from RM1,700,000 to RM2 via cash distribution of RM1,699,998 to its immediate holding company, Paysys (M) Sdn. Bhd.. The reduction in the share capital did not give rise to any changes in proportion of ownership interest and voting power held by the Group. 124 GHL SYSTEMS BERHAD 199401007361 (293040-D)
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