Wah Seong Corporation Berhad Annual Report 2021 144 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 9 INVESTMENT IN SUBSIDIARIES (CONTINUED) Details of subsidiaries are as follows (continued): Group’s effective interest 2021 % 2020 % Country of incorporation Principal activities Syn Tai Hung Marketing Sdn. Bhd. 60 60 Malaysia Trading, distribution and service of industry machinery, equipment and spare parts; trading and distribution of building materials; marketing, distribution, service, maintenance and assembly of industrial and agricultural equipment STH Edaran Sdn. Bhd. (formerly known as LT Steam Energy Sdn Bhd) 60 60l Malaysia Marketing, distribution, service, maintenance and assembly of industrial and agricultural equipment Syn Tai Hung Borneo Sdn. Bhd. 70 70 Malaysia Trading and distribution of building materials Spirolite (M) Sendirian Berhad - -o Malaysia Manufacturing and trading of spiral pipes, straight pipes, tubes, tanks and containers Spirolite Marketing Sdn. Bhd. - -o Malaysia Dormant (In Member’s Voluntary Winding Up) * Spirolite (Myanmar) Company Limited - -o The Republic of the Union of Myanmar Manufacturing and marketing of polyethylene pipes, fittings and tanks for related fluid conveyance products * Wah Seong International Pte Limited 100 100 Hong Kong, SAR Investment holding ~ WSIPL Australia Pty. Ltd. 100 100 Australia Dormant Wah Seong Industrial Holdings Sdn. Bhd. 100 100 Malaysia Investment and property holding and provision of management services Wah Seong Management Services Sdn. Bhd. 100 100 Malaysia Provision of management support services and business management consultancy services WSC Capital Sdn. Bhd. 100 100 Malaysia Treasury management centre providing services to its related companies within Malaysia and overseas which includes cash financing, debt management, investment services and financial risk management Maple Sunpark Sdn. Bhd. 100 100 Malaysia Letting of properties Triple Cash Sdn. Bhd. 79 79 Malaysia Investment and property holding Sunrise Green Sdn. Bhd. 65 65 Malaysia Investment and property holding
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