Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 393 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 47. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES (CONTD.) Name of Companies Country of incorporation Issued and paid-up share capital RM Effective proportion of ownership interest Principal activities 2023 % 2022 % Subsidiary of EAL: MEEM for Facilities Management Company (b) The Kingdom of Saudi Arabia SAR 16,753,120 60 - Real estate management, cleaning and maintenance service Subsidiary of EII: Edgenta Technical Service L.L.C United Arab Emirates AED 300,000 100 - Provision of technical services Edgenta Facilities Management L.L.C United Arab Emirates AED 300,000 100 - Facilities management services (a) Audited by member firms of Ernst & Young Global in respective countries (b) Audited by firms other than Ernst & Young PLT or any member firms of Ernst & Young Global (c) These subsidiaries are audited by firms other than Ernst & Young PLT or any member firms of Ernst & Young Global for financial year ended 31 December 2023. For financial year 2022, these subsidiaries were audited by member firms of Ernst & Young Global in respective countries. (d) Edgenta Mediserve Sdn. Bhd. is 43% owned by UEM Edgenta Berhad and 57% owned by Edgenta Healthcare Management Sdn. Bhd. (e) Opus Al-Dauliyyah L.L.C. is 95% owned by Opus International (M) Berhad and 5% owned by Opus Management Sdn. Bhd. (f) Classified as disposal group held for sale in the previous financial year (Note 28) (g) Notwithstanding Edgenta PROPEL Berhad’s (“EPB”) effective shareholding of less than 50% in Edgenta PROPEL (Sarawak) Sdn. Bhd. (“EPS”), the Group does have the substantive rights and power to direct the relevant activities of EPS and the ability to use the power to significantly affect its returns as stipulated in the shareholder’s agreement. Therefore, EPS is consolidated in the Group’s consolidated financial statements.
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