347 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 45. Summary of effects of acquisition and re-organisation of companies (continued) 2021 (continued) During the financial year, the Group had completed the internal re-organisation for the following companies of which there were no consequential financial effects to the Group: (continued) (a) Internal re-organisation of companies (continued) (vi) On 17 September 2020, Yinson Offshore Services Sdn. Bhd. (“YOSSB”), a wholly owned subsidiary of the Company, increased its issued and paid-up capital from RM1 to RM6,656,550 by an allotment of 6,656,549 new ordinary shares at an issue price of RM1 each by way of capitalisation of amount owing by YOSSB to the Company of RM3,993,929 and amount owing by YOSSB to Yinson Global Corporation (HK) Limited (“YGC(HK)”), an indirect wholly owned subsidiary of the Group, of RM2,662,620. As a result, the Company and YGC(HK) own 60% and 40% equity interest in YOSSB respectively. (vii) On 6 October 2020, Yinson Global Corporation (HK) Limited, an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson TMC Sdn. Bhd. (“YTMC”) from the Company for a consideration of RM235,421,163. As a result, YTMC became an indirect wholly owned subsidiary of the Company. (viii) On 30 December 2020, Yinson Macacia Limited (“YML”), an indirect wholly owned subsidiary of the Company, increased the issued and paid-up capital from USD1 to USD201,300,000 by an allotment of 201,299,999 new ordinary shares at an issue price of USD1 each by way of capitalisation of amount owing by YML to the Company of USD120,779,999 and amount owing by YML to Yinson Production Capital Pte. Ltd. (formerly known as Yinson Malva Production Pte. Ltd.) (“YPCPL”), an indirect wholly owned subsidiary of the Company, of USD79,952,307 coupled with a cash injection of USD567,693. As a result, the Company and YPCPL own 60% and 40% equity interest in YML respectively. (ix) On 4 January 2021, Yinson Offshore Services Sdn. Bhd., an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson Offshore Services Limited (“YOSL”) from the Company for a consideration of USD1. As a result, YOSL became an indirect wholly owned subsidiary of the Company. (x) On 4 January 2021, Yinson Offshore Services Sdn. Bhd., an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson Offshore Marine Limited (“YOML”) from Yinson Offshore Services Limited (“YOSL”), an indirect wholly owned subsidiary of the Company for a consideration of USD1. YOML remains as an indirect wholly owned subsidiary of the Company. (xi) On 4 January 2021, Yinson Offshore Services Sdn. Bhd., an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson Camellia Limited (“YCL”) from Yinson Offshore Marine Limited, an indirect wholly owned subsidiary of the Company for a consideration of USD873,482. YCL remains as an indirect wholly owned subsidiary of the Company. (xii) On 4 January 2021, Yinson Offshore Services Sdn. Bhd., an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson Indah Limited (“YIL”) from the Company for a consideration of USD1. As a result, YIL became an indirect wholly owned subsidiary of the Company. (xiii) On 13 January 2021, Yinson Production Capital Pte. Ltd. (formerly known as Yinson Malva Production Pte. Ltd.), an indirect wholly owned subsidiary of the Company, completed the acquisition of 100% equity interest in Yinson Production Pte. Ltd. (“YPPL”) from Yinson Production Offshore Pte. Ltd., an indirect wholly owned subsidiary of the Company for a consideration of USD6,203,496. YPPL remains as an indirect wholly owned subsidiary of the Company. 46. Summary of effects of dilution and disposal of companies 2021 On 28 April 2020, a Share Subscription Agreement between the Company, Yinson Boronia Consortium Pte. Ltd. (“YBCPL”), Yinson Acacia Limited, both of which are indirect wholly owned subsidiaries of the Company, Sumitomo Corporation and Japan Offshore Facility Investment 1 Pte. Ltd. (“JOFI”) (“Share Subscription Agreement”) was entered into in respect of Project Marlim. The Share Subscription Agreement was completed on 11 May 2020.
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