MISC Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 353 MISC BERHAD ANNUAL REPORT 2018 352 40. SUBSIDIARIES AND ACTIVITIES (CONT'D.) Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2018 2017 Paramount Tankers Corporation Republic of the Marshall Islands Shipowning and operations 100 100 Atenea Services S.A. British Virgin Islands Shipowning 100 100 Hendham Enterprises Ltd. British Virgin Islands Shipowning 100 100 Odley Worldwide Inc. British Virgin Islands Shipowning 100 100 Oldson Ventures Ltd. British Virgin Islands Shipowning 100 100 Twyford International Business Corp. British Virgin Islands Shipowning 100 100 Zangwill Business Corp. British Virgin Islands Shipowning 100 100 Portovenere and Lerici (Labuan) Pte. Ltd. Malaysia Investment holding 100 - Portovenere and Lerici (Singapore) Pte. Ltd. Singapore Shipping 100 - * Audited by firms of auditors other than Ernst & Young # Audited by affiliates of Ernst & Young Malaysia ^ Listed on the Main Board of Bursa Malaysia Securities Berhad 41. ASSOCIATES AND ACTIVITIES Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2018 2017 MISC Agencies Lanka Pte. Ltd. Sri Lanka In liquidation 40 40 Nikorma Transport Limited Nigeria LNG transportation 30 30 Eagle Star Management Corp. Philippines Recruitment and provision of manpower for maritime vessels 24 24 42. JOINT ARRANGEMENTS AND ACTIVITIES (a) Joint ventures and activities Name of company Country of incorporation Principal activities Ownership interest and voting interest (%) 2018 2017 Malaysia Vietnam Offshore Terminal (L) Ltd. **** Malaysia FSO owner 51 51 Vietnam Offshore Floating Terminal (Ruby) Ltd. *** Malaysia FPSO owner 40 40 MMHE-TPGM Sdn. Bhd. *** Malaysia Provision of engineering, procurement, construction installation, and commissioning services 40 40 MMHE-ATB Sdn. Bhd. *** Malaysia Dormant 27 27 Technip MHB Hull Engineering Sdn. Bhd. *** Malaysia Build and develop hull engineering and engineering project management capacities 33 33