NOTES TO THE FINANCIAL STATEMENTS Cont’d 7. Investments in subsidiaries Company 2022 2021 Note RM’000 RM’000 Cost of investment 1,946,967 1,946,967 Less: Impairment loss 7.4 (749,733) (742,605) 1,197,234 1,204,362 Details of the subsidiaries are as follows: Name of entity Principal place of business/ Country of incorporation Principal activities Effective ownership interest and voting interest 2022 2021 % % Direct subsidiaries of the Company: Press Metal Bintulu Sdn. Bhd. (“PMBTU”) Malaysia Manufacturing and trading of aluminium products and marketing of share of alumina produced 80.0 80.0 Press Metal Sarawak Sdn. Bhd. Malaysia Manufacturing and trading of aluminium products 80.0 80.0 Press Metal (Labuan) Ltd. Malaysia Investment holding and to acquire or hold any securities 100.0 100.0 PMIM Extrusion Sdn. Bhd. (“PMIM”) Malaysia Investment holding 100.0 100.0 Angkasa Jasa Sdn. Bhd. Malaysia Contracting and fabrication of aluminium and stainless steel products 100.0 100.0 Press Metal (HK) Limited (“PMHK”) * Hong Kong Investment holding 100.0 100.0 Direct subsidiary of PMBTU: Press Metal Aluminium Rods Sdn. Bhd. Malaysia Manufacturing and trading of aluminium products 80.0 80.0 Direct subsidiary of PMIM: Press Metal Berhad (“PMB”) Malaysia Manufacturing and trading of aluminium products and investment holding 100.0 100.0 Direct subsidiary of PMHK: Press Metal International Limited (“PMI”) * China Manufacturing and trading of aluminium products and investment holding 92.4 92.4 PRESS METAL ALUMINIUM HOLDINGS BERHAD 243
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