MISC Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 311 Financial Statements 41. 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 (%) 2017 2016 Malaysia Deepwater Production Contractors Sdn. Bhd. **** Malaysia Operating and maintaining FPSO terminal 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. (b) Joint operations Details of the Group's joint operations are as follows: Name % of Ownership interest held by the Group 2017 2016 Technip MMHE (Malikai) Joint Venture 50% 50% Technip MMHE (SK316) Joint Venture 50% 50% Technip MMHE (Malikai) Joint Venture and Technip MMHE (SK316) Joint Venture are unincorporated joint venture between the subsidiary, MMHE and Technip Geoproduction (M) Sdn. Bhd. to undertake specific engineering, procurement and construction, installation and commissioning projects.