NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 9 INVESTMENT IN SUBSIDIARIES (CONTINUED) Details of subsidiaries are as follows (continued): Group’s effective interest 2022 % 2021 % Country of incorporation Principal activities ~ Wasco Kanssen Limited 100 100 British Virgin Islands Investment holding and provision of pipe coating services * Jingzhou Wasco Kanssen Offshore Petroleum Engineering Co., Ltd. 100 100 People’s Republic of China Provision of pipe coating services and trading of goods * Kanssen (Yadong) Coating Services (Jingzhou) Company Limited 100 100 People’s Republic of China Provision of pipe coating services and trading of goods * PPSC China Limited 100 100 Hong Kong, SAR Investment holding Wasco Oil Technologies Sdn. Bhd. 100 100 Malaysia Investment holding and provision of management services Wasco Oilfield Services Sdn. Bhd. 49π 49π Malaysia Investment holding Wasco Corrosion Services Sdn. Bhd. 63 63 Malaysia Supply and installation of sacrificial anodes, provision of cathodic protection services and equipment, corrosion protection services, passive fire protection services, special paint coating services and provision of technical training services Wasco Lindung Sdn. Bhd. 48π 48π Malaysia Manufacture, supply and installation of sacrificial anodes, provision of cathodic protection services and equipment, corrosion protection services, passive fire protection services, special paint coating services and provision of technical training services Asiana Emas Sdn. Bhd. 100 100 Malaysia Investment holding Petro-Pipe (Sabah) Sdn. Bhd. 70 70 Malaysia Manufacturing and sales of spiral welded pipes for the oil and gas industry Wasco Engineering Group Limited 100 100 British Virgin Islands Investment holding Annual Report 2022 Wah Seong Corporation Berhad 145
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