p 305 MISC BERHAD - Annual Report 2014 39. Joint arrangements and activities (cont’d.) (a) Joint ventures and activities (cont’d.) Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2014 2013 MISC Shipping Services (UAE) LLC*** United Arab Emirates Dormant 49 49 Western Pacific Shipping Ltd.**** Bermuda Providing shipping solutions to meet LNG Project requirements and also supports other general shipping requirements of Papua New Guinea 60 60 VTTI B.V. Netherlands Owning (in whole or in part), operating and managing a network of oil product storage terminals and refineries 50 50 ELS Lightering Services S.A Uruguay Lightering activity 50 50 Akudel S.A*** Uruguay Owning and operating workboats for lightering activity 49 49 Gumusut-Kakap Semi-Floating Production System (L) Limited Malaysia Asset ownership and leasing of semi-submersible floating production system 50 50 Malaysia Deepwater Floating Terminal (Kikeh) Ltd.**** Malaysia FPSO owner 51 51 Malaysia Deepwater Production Contractors Sdn. Bhd.**** Malaysia Operating and maintaining FPSO terminals 51 51 *** Even though the Group holds less than 50% equity interest in these companies, all material operational and financial matters require unanimous consent of the joint venture parties. **** Even though the Group holds more than 50% equity interest in these companies, all material operational and financial matters require unanimous consent of the joint venture parties.
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