Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 9 INVESTMENT IN SUBSIDIARIES (CONTINUED) Details of subsidiaries are as follows (continued): Group’s effective interest Country of incorporation Principal activities 2023 % 2022 % Peakvest Sdn. Bhd. 100 100 Malaysia Letting of properties Jutasama Jaya Sdn. Bhd. -m 100 Malaysia Dormant (In Member’s Voluntary Winding Up) Wasco Greenergy Sdn. Bhd. 100n - Malaysia Investment and property holding Wasco Thermal Sdn. Bhd. (formerly known as Mackenzie Industries Sdn. Bhd.) 60 60 Malaysia Undertaking of steam boilers and energy system projects in both local and overseas markets Wasco AgroTech Sdn. Bhd. (formerly known as 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. - -a 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. Wasco AgroTech Indonesia (formerly known as 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 Wasco Saito Sdn. Bhd. (formerly known as PMT Saito Sdn. Bhd.) 51 51 Malaysia Manufacturing accessories and equipment under the brand of ‘Saito’, for disc bowl centrifuge for palm oil industry, manufacturing of decanters model SID550P and 580P for palm oil industry, and manufacturing and development of new products in any industry Petro-Pipe Industrial Corporation Sdn. Bhd. 100 100 Malaysia Investment holding Integrated Annual Report 2023 212
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