Datasonic Group Berhad 134 Notes to the Financial Statements for the Financial Year Ended 31 March 2022 (Cont’d) 7. INVESTMENTS IN SUBSIDIARIES (CONT’D) Name of Subsidiary Principal Place of Business/ Country of Incorporation Percentage of Issued Share Capital Held by Parent Principal Activities 2022 2021 % % Datasonic Business Technology Philippines ("DBTP") @ $ Philippines 40 40 Dormant. Medicloud Malaysia Sdn. Bhd. ("MMSB") ^ Malaysia 100 100 Dormant. Datasonic Digent Sdn. Bhd. ("DSB") ^ Malaysia 60 60 Dormant. Held by DMSB Constant Ahead Sdn. Bhd. (“CASB”) ^ Malaysia 100 100 Dormant. Notes:- * - The subsidiary was granted Multimedia Super Corridor status which qualifies for Pioneer Status incentive under the Promotion of Investments Act, 1986 as disclosed in Note 38 to the financial statements. @ - These subsidiaries were audited by member firms of Crowe Global of which Crowe Malaysia PLT is a member. ^ - These subsidiaries were audited by other firms of chartered accountants. ~ - No audit requirement of this subsidiary under New Zealand Companies Act 1993 as the Company satisfied the exemption requirements. # - 1% held by a wholly-owned subsidiary, DTSB. + - 5% held by a wholly-owned subsidiary, DTSB. & - The subsidiary was liquidated on 29 March 2022. $ - Although the Company owns less than half of the voting power in DBTP, the Company has control over DBTP by virtue of an agreement with other investor of DBTP. Consequently, the Company consolidates its investment of this subsidiary.
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