Yinson Annual Report 2022

295 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 Name of subsidiaries Countries of incorporation Proportion (%) of ownership interest Principal activities 2022 2021 Held through Yinson Boronia Holding (S) Pte. Ltd. and Yinson Boronia Production B.V.: Yinson Boronia Servicos De Operacao LTDA (i) Brazil 100 100 Provision of operations and maintenance services of floating marine assets to the offshore oil and gas industry Held through Yinson Bouvardia Production B.V.: Yinson Bouvardia Servicos De Operacao LTDA (iii)(vi) Brazil 100 - Provision of operations and maintenance services of floating marine assets to the offshore oil and gas industry (i) Audited by member firms of PricewaterhouseCoopers International Limited, which are separate and independent legal entities from PricewaterhouseCoopers PLT. (ii) Audited by audit firms other than PricewaterhouseCoopers. (iii) Subsidiaries newly incorporated during the current financial year. (iv) Companies not required to be audited under the laws of the country of incorporation. (v) Company not required to be audited due to status being in member’s voluntary winding-up. (vi) Auditor not appointed as at 31 January 2022. (vii) The reclassification or reorganisation of these companies in the Group are as disclosed in Note 45. (viii) The Group has concluded that it controls Yinson Energy Sdn. Bhd., even though it holds 30% equity interest in this subsidiary. Based on an agreement signed between the shareholders, the Company has majority representation on the Board of Directors, which is responsible for directing the relevant activities. All decisions of the Board of Directors only require a simple majority vote to be passed. (ix) The Group has concluded that it controls Yinson Operations & Production West Africa Limited, even though it holds 40% equity interest in this subsidiary. Based on an agreement signed between the shareholders, the Company has majority representation on the Board of Directors, which is responsible for directing the relevant activities. All decisions of the Board of Directors only require a simple majority vote to be passed. (x) Companies liquidated during the current financial year. 19. Investment in subsidiaries (continued) (a) Details of subsidiaries are as follows: (continued)

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