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 E&P Services Limited 100 100 Hong Kong, SAR Investment holding * WSN Investments Limited - -p Hong Kong, SAR Dormant (Dissolved) * Wasco China International Limited 100 100 Hong Kong, SAR Investment holding * Ashburn Offshore Oil & Gas Equipment & Engineering (Tianjin) Co. Ltd. 65 65 People’s Republic of China Design and manufacturing of products to the oil and gas industry * Ashburn International Trade (Tianjin) Co. Ltd. 65 65 People’s Republic of China International trade, processing and assembling, storage of bonded goods and development of high technological products and consultancy services Jutasama Sdn. Bhd. 100 100 Malaysia Contracting of industrial engineering projects Mackenzie Industries Sdn. Bhd. 60 60 Malaysia Undertaking of steam boilers and energy system projects in both local and overseas markets Jutasama Jaya Sdn. Bhd. 100 100 Malaysia Dormant PMT Industries Sdn. Bhd. 100 100 Malaysia Manufacturing and supplying of spare parts, equipment and provision of maintenance services for palm oil and other agricultural industries PMT Industries (Labuan) Ltd. 100 100 Federal Territory of Labuan, Malaysia Supply of equipment for palm oil and other agricultural industries PMT-Phoenix Industries Sdn. Bhd. -c -c Malaysia Dormant (In Member’s Voluntary Winding Up) PMT-Dong Yuan Industries Sdn. Bhd. 100 100 Malaysia Fabrication, assembly and supply of machinery and equipment to palm oil industry * PT. PMT Industri 100 100 Indonesia Supply of spare parts, equipment, provision of maintenance services and engineering consultation for palm oil and other agricultural industries Peakvest Sdn. Bhd. 100 100 Malaysia Letting of properties Annual Report 2022 Wah Seong Corporation Berhad 147
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