WASCO BERHAD 222 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 8 INVESTMENT IN SUBSIDIARIES (CONTINUED) Details of subsidiaries are as follows (continued): * Audited by a firm other than member firms of PricewaterhouseCoopers International Limited and PricewaterhouseCoopers PLT. # Audited by a member firm of PricewaterhouseCoopers International Limited which is a separate and independent legal entity from PricewaterhouseCoopers PLT. ~ Companies not required by their local laws to appoint statutory auditors. q On 19 December 2024, Mackenzie Hydrocarbons (Australia) Pty. Ltd., an indirect wholly-owned subsidiary of the Company had filed for voluntary deregistration with the Australian Securities & Investments Commission. Subsequently on 24 February 2025, Mackenzie Hydrocarbons (Australia) Pty. Ltd. was deregistered under section 601AA(4) of the Corporations Act 2001. p On 19 December 2024, Wasco Engineering Australia Pty. Ltd., an indirect wholly-owned subsidiary of the Company had filed for voluntary deregistration with the Australian Securities & Investments Commission. Subsequently on 24 February 2025, Wasco Engineering Australia Pty. Ltd. was deregistered under section 601AA(4) of the Corporations Act 2001. o On 2 December 2024, Petro-Pipe Industries (M) Sdn. Bhd. (“PPIM”), an indirect wholly-owned subsidiary of the Company had at its Extraordinary General Meeting approved the special resolution to wind up PPIM by way of the Member’s Voluntary Winding Up by its shareholder. n On 29 November 2024, Maple Sunpark Sdn. Bhd. (“MSSB”), a direct wholly-owned subsidiary of the Company had at its Extraordinary General Meeting approved the special resolution to wind up MSSB by way of the Member’s Voluntary Winding Up by its shareholder. m On 29 November 2024, PPI Industries Sdn. Bhd. (“PPII”), an indirect wholly-owned subsidiary of the Company had at its Extraordinary General Meeting approved the special resolution to wind up PPII by way of the Member’s Voluntary Winding Up by its shareholder. l On 28 October 2024, Wasco Coatings Germany GmbH (“WCG”), an indirect wholly-owned dormant subsidiary of the Company had filed for insolvency with the court in Stralsund, Germany. k On 30 June 2024, Petro-Pipe Industrial Corporation Sdn. Bhd. (“PPIC”), a direct wholly-owned subsidiary of the Company, had entered into a Shares Purchase Agreement (“SPA”) for the disposal of 1,200,000 ordinary shares and 4,800,000 redeemable preference shares equivalent to 60% and 80% of the interests respectively in the total issued share capital of WDG Resources Sdn. Bhd. (“WDG”), for a total consideration of approximately RM731,000, based on the terms and conditions as stipulated in the SPA (“Disposal of WDG Shares”). The disposal was completed on 26 August 2024. WDG and its subsidiaries namely Syn Tai Hung Marketing Sdn. Bhd. and WDG Assembly Sdn. Bhd. (formerly known as STH Edaran Sdn. Bhd.) ceased to be indirect subsidiaries of PPIC and the Company accordingly. j On 31 May 2024, Stellar Marketing Sdn. Bhd. (“SMSB”), an indirect wholly-owned subsidiary of the Company, had at its Extraordinary General Meeting approved the special resolution to wind up SMSB by way of the Member’s Voluntary Winding Up by its shareholder.
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