MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 20 INVESTMENTS IN SUBSIDIARIES (CONTINUED) Details of subsidiaries, are as follows: Place of business/ Proportion of Proportion of country of Nature of ordinary shares ordinary shares Name of subsidiaries incorporation business directly held by parent held by the Group 2019 2018 2019 2018 % % % % Direct subsidiaries (continued) MSM Sugar Refinery Malaysia Sugar refining, 100 100 100 100 (Johor) Sdn Bhd sales and marketing of refined sugar products MSMTrading United Arab Raw and refined 100 100 100 100 International DMCC* Emirates sugar trading Indirect subsidiary MSM Logistics Sdn Bhd Malaysia Provision of - - 100 100 transportation services * Not audited by PricewaterhouseCoopers, Malaysia or its affiliates. 21 LOANS DUE FROM SUBSIDIARIES Company 2019 2018 RM’000 RM’000 Revolving credit loans – MSM Perlis Sdn Bhd - 26,181 Term loan – MSM Perlis Sdn Bhd 37,030 45,765 Loss allowance (419) (369) Islamic term loan – MSM Sugar Refinery (Johor) Sdn Bhd 1,023,087 1,044,752 Loss allowance - (32,340) 1,059,698 1,083,989 Analysed as: Current 104,237 64,956 Non-current 955,461 1,019,033 Total loans to subsidiaries 1,059,698 1,083,989 The loss allowances have been recognised during the financial year subsequent to considering the repayment plan agreed by the Company with the subsidiaries. MSM Malaysia Holdings Berhad | Annual Report 2019 184