ACCOUNTABILITY | FINANCIAL STATEMENTS 337 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 47. LIST OF SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES (CONTINUED) Details of subsidiaries, joint ventures and associates are as follows: (continued) Name of company Countries of incorporation Place of business Group’s effective interest (%) Principal activities 2024 2023 Other Operations - Subsidiaries (continued) Yinson International Pte. Ltd.(i) Singapore Malaysia 100 100 Provision of treasury management services to companies within the Group Yinson Juniper Ltd. British Virgin Islands Malaysia 100 100 Provision of treasury management services to companies within the Group Yinson TMC Sdn. Bhd. Malaysia Malaysia 100 100 Provision of treasury management services to companies within the Group Other Operations - Joint Ventures PTSC Ca Rong Do Ltd(v) Republic of the Marshall Islands Vietnam 49 49 Dormant Yinson Gazania Operations Limited(i) Ghana Singapore 49 49 Provision of operations and maintenance of floating marine assets to the offshore oil and gas industry Notes: (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, in liquidation or dissolution. (vi) Auditor not appointed as at 31 January 2024. (vii) The acquisitions of these companies in the Group are 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 disposed, liquidated or struck off during the current financial year. (xi) The dilutions or disposals of these companies in the Group are as disclosed in Note 46. (xii) The Group has concluded that it controls Yinson Production West Africa Limited, even though it holds 49% equity interest in this subsidiary. Based on an agreement signed between the shareholders, a subsidiary of the Company has majority representation on the Board of Directors, which are responsible for directing the relevant activities. Matters presented to the Board shall be approved upon receiving affirmative vote of a simple majority of the Directors.
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