120 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 16. INVESTMENTS IN SUBSIDIARIES (Cont’d) (d) The details of the subsidiaries are as follows: (Cont’d) Name of company Country of incorporation/ Principal place of business Effective interest in equity Principal activities 2021 2020 % % Subsidiaries of e-pay (M) Sdn. Bhd. PT e-pay Indonesia * Indonesia 78.80 78.80 Dormant. Subsidiaries of Mobiepay Sdn. Bhd. Pay Here Sdn. Bhd. # Malaysia 100.00 100.00 Dormant. PT Pembayaran Elektronik Indonesia Indonesia 100.00 100.00 Engaged in the business of IT consulting and management services. Digital Salute Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in the business of providing self-service payment kiosk for reload and top up. Subsidiary of GHL (Thailand) Co., Ltd. Conscious Object Development Co. Ltd. Thailand 97.74 97.74 Dormant. Subsidiary of S Capital Sdn. Bhd. Paysys (M) Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in business as dealers in credit card transactions, terminals and solutions. Subsidiaries of Paysys (M) Sdn. Bhd Paysys Communications Sdn. Bhd. # Malaysia 100.00 100.00 Engaged in developing payment solution together with relevant hardware require for a complete solution. Paysys Technology Sdn. Bhd. # Malaysia 100.00 100.00 Dormant. # Subsidiaries audited by BDO PLT Malaysia or BDO PLT member firms. ^ Subsidiaries not audited by BDO PLT Malaysia or BDO PLT member firms. * Effective interest of the Group in PT e-pay Indonesia (“e-pay Indo”) is 100% taking into account 21.20% interest in equity of e-pay Indo held by a wholly-owned subsidiary of the Company, EPY Capital Holdings Limited and 78.80% interest in equity of e-pay Indo held by an indirect subsidiary of the Company, e-pay (M) Sdn. Bhd..
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